ON Semiconductor reported Q3 2024 revenue of $1.76 billion, up 1.5% QoQ, with GAAP gross margin reaching 45.4%. The company achieved GAAP operating margin of 25.3% and diluted EPS of $0.93, exceeding market expectations. Free cash flow increased 41% sequentially to $293.6 million.By segment, Power Solutions Group generated $829.4 million in revenue, Advanced Solutions Group contributed $653.7 million, and Intelligent Sensing Group added $278.8 million. The company maintained strong operational efficiency with non-GAAP operating margin of 28.2% and returned 75% of free cash flow to shareholders through stock repurchases over the last twelve months.Looking ahead to Q4 2024, ON Semiconductor projects revenue between $1.71-1.81 billion and expects gross margin of 43.9-45.9%. The company anticipates diluted EPS of $0.88-1.00, demonstrating continued focus on operational execution and financial management in the current market environment.

ON Semiconductor reported Q3 2024 revenue of $1.76 billion, up 1.5% QoQ, with GAAP gross margin reaching 45.4%. The company achieved GAAP operating margin of 25.3% and diluted EPS of $0.93, exceeding market expectations. Free cash flow increased 41% sequentially to $293.6 million.By segment, Power Solutions Group generated $829.4 million in revenue, Advanced Solutions Group contributed $653.7 million, and Intelligent Sensing Group added $278.8 million. The company maintained strong operational efficiency with non-GAAP operating margin of 28.2% and returned 75% of free cash flow to shareholders through stock repurchases over the last twelve months.Looking ahead to Q4 2024, ON Semiconductor projects revenue between $1.71-1.81 billion and expects gross margin of 43.9-45.9%. The company anticipates diluted EPS of $0.88-1.00, demonstrating continued focus on operational execution and financial management in the current market environment.