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Dec 31, 2022
ON Semiconductor Q4 2022 Earnings Report
ON Semiconductor reported record annual revenue, gross margin, and free cash flow, exceeding fourth quarter expectations.
Key Takeaways
ON Semiconductor announced its Q4 and fiscal year 2022 results, with Q4 revenue up 14% year-over-year and record automotive revenue growth of 54% year-over-year. The Board of Directors approved a new $3 billion share repurchase program.
Fourth quarter revenue increased by 14% year-over-year.
GAAP gross margin increased by 343 bps year-over-year.
Record automotive revenue grew 54% year-over-year.
GAAP and non-GAAP diluted earnings per share were $1.35 and $1.32, respectively.
ON Semiconductor
ON Semiconductor
Forward Guidance
onsemi projects first quarter 2023 revenue to be between $1.87 billion and $1.97 billion, with a GAAP gross margin between 45.6% and 47.6%.