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Sep 27, 2024
ON Semiconductor Q3 2024 Earnings Report
ON Semiconductor's Q3 2024 results surpassed expectations, with revenue, earnings, and free cash flow all exceeding projections.
Key Takeaways
ON Semiconductor reported strong Q3 2024 results, exceeding expectations for revenue and earnings. The company's free cash flow increased 41% sequentially, driven by focus on delivering consistent results through execution and prudent financial management.
Revenue reached $1,761.9 million.
GAAP gross margin was 45.4 percent, while non-GAAP gross margin was 45.5 percent.
GAAP diluted earnings per share was $0.93, and non-GAAP diluted earnings per share was $0.99.
Company returned 75 percent of free cash flow over last twelve months to shareholders through stock repurchases.
Revenue by Segment
Forward Guidance
ON Semiconductor projects revenue between $1,710 million and $1,810 million, with a GAAP gross margin of 43.9% to 45.9% for the fourth quarter of 2024.
Positive Outlook
- Revenue between $1,710 to $1,810 million
- Gross Margin 43.9% to 45.9%
- Operating Expenses $313 to $328 million
- Other Income and Expense (including interest), net ($12 million)
- Diluted Earnings Per Share $0.88 to $1.00
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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