ON Semiconductor Q3 2023 Earnings Report
Key Takeaways
ON Semiconductor (onsemi) reported strong Q3 2023 results, exceeding expectations with a revenue of $2,180.8 million. The company achieved record revenue in the automotive and industrial end markets. GAAP EPS was $1.29, and non-GAAP EPS was $1.39. The business demonstrated resilience amid market softness through disciplined execution and structural improvements.
Revenue reached $2,180.8 million.
GAAP and non-GAAP gross margin were 47.3 percent.
GAAP and non-GAAP operating margins were 31.5 percent and 32.6 percent, respectively.
GAAP and non-GAAP diluted earnings per share were $1.29 and $1.39, respectively.
ON Semiconductor
ON Semiconductor
Forward Guidance
ON Semiconductor projects revenue between $1,950 million and $2,050 million, and diluted earnings per share between $1.10 and $1.24 for the fourth quarter of 2023.
Positive Outlook
- Revenue between $1,950 to $2,050 million
- Gross Margin 45.4% to 47.4%
- Operating Expenses $314 to $329 million
- Other Income and Expense (including interest), net ($4 million)
- Diluted Earnings Per Share $1.10 to $1.24