ON Semiconductor Corporation, known as onsemi, reported its financial results for the third quarter ended September 27, 2024, on October 28, 2024. The company announced a revenue of $1.76 billion, with GAAP and non-GAAP gross margins of 45.4% and 45.5% respectively. Operating margins were reported at 25.3% for GAAP and 28.2% for non-GAAP. Diluted earnings per share were $0.93 for GAAP and $0.99 for non-GAAP. The company also highlighted a 41% sequential increase in Free Cash Flow and the return of 75% of free cash flow to shareholders through stock repurchases over the last twelve months. President and CEO Hassane El-Khoury emphasized the company's focus on consistent results and prudent financial management, as well as investments to gain market share in automotive, industrial, and AI data centers. The...Show More

ON Semiconductor Corporation, known as onsemi, reported its financial results for the third quarter ended September 27, 2024, on October 28, 2024. The company announced a revenue of $1.76 billion, with GAAP and non-GAAP gross margins of 45.4% and 45.5% respectively. Operating margins were reported at 25.3% for GAAP and 28.2% for non-GAAP. Diluted earnings per share were $0.93 for GAAP and $0.99 for non-GAAP. The company also highlighted a 41% sequential increase in Free Cash Flow and the return of 75% of free cash flow to shareholders through stock repurchases over the last twelve months. President and CEO Hassane El-Khoury emphasized the company's focus on consistent results and prudent financial management, as well as investments to gain market share in automotive, industrial, and AI data centers. The report also provided an outlook for the fourth quarter of 2024, projecting revenues between $1.71 and $1.81 billion, with gross margins expected to be between 43.9% and 45.9%. Operating expenses are anticipated to be between $300 and $315 million on a non-GAAP basis. The company expects diluted earnings per share to be in the range of $0.88 to $1.00 for GAAP and $0.92 to $1.04 for non-GAAP. The financial results and outlook reflect onsemi's strategic focus on automotive and industrial markets, as well as its commitment to innovation and shareholder returns.