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Jul 03, 2020
ON Semiconductor Q2 2020 Earnings Report
Reported second quarter 2020 results with revenue of $1,213.5 million and non-GAAP EPS of $0.12.
Key Takeaways
ON Semiconductor reported second quarter 2020 revenue of $1,213.5 million, a decrease of approximately 10% compared to the second quarter of 2019. The company's GAAP diluted loss per share was $0.00, while non-GAAP diluted earnings per share was $0.12. Despite disruptions from the COVID-19 pandemic, ON Semiconductor is making progress towards its strategic initiatives, including manufacturing optimization and the ramp-up of 300mm manufacturing processes.
Revenue of $1,213.5 million
GAAP and non-GAAP gross margin of 30.8 percent
GAAP operating margin of 3.6 percent and non-GAAP operating margin of 7.4 percent
GAAP diluted loss per share of $0.00 and non-GAAP diluted earnings per share of $0.12
ON Semiconductor
ON Semiconductor
Forward Guidance
The Company anticipates 2020 third quarter revenue to be approximately $1,200 million to $1,330 million. GAAP and Non GAAP gross margin for third quarter of 2020 is expected to be between 32.0 percent and 34.0 percent.
Positive Outlook
- Revenue to be approximately $1,200 million to $1,330 million.
- Gross margin expected to be between 32.0% and 34.0%.
- Includes anticipated stock-based compensation expense of approximately $17 million to $19 million.
- Net cash paid for income taxes is expected to be $17 million to $22 million.
- Based on product booking trends, backlog levels, and estimated turns levels