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Apr 03, 2020
ON Semiconductor Q1 2020 Earnings Report
ON Semiconductor's Q1 2020 earnings were impacted by the global macroeconomic slowdown and COVID-19 disruptions, but the company remains optimistic about recovery in the second half of the year.
Key Takeaways
ON Semiconductor reported Q1 2020 revenue of $1,277.9 million, a decrease of 8% compared to Q1 2019. The company experienced a GAAP diluted loss per share of $0.03, while non-GAAP diluted earnings per share were $0.10. Revenue and margins were significantly impacted by the slowdown in global macroeconomic activity and supply constraints due to COVID-19 related lockdowns.
Q1 2020 revenue was $1,277.9 million, down 8% year-over-year.
GAAP diluted loss per share was $0.03, and non-GAAP diluted earnings per share was $0.10.
GAAP and non-GAAP gross margin were 31.5 percent.
Company anticipates Q2 2020 revenue to be approximately $1,100 million to $1,260 million.
Forward Guidance
Based on product booking trends, backlog levels, and estimated turns levels, the Company anticipates 2020 second quarter revenue to be approximately $1,100 million to $1,260 million. GAAP and Non GAAP gross margin for second quarter of 2020 is expected to be between 29 percent and 31 percent.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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