On Semiconductor‘s fiscal 2024 first quarter results exceeded expectations
Time:2024-05-20
Views:136
Source: ON Mei Author: On Mei
April 30, 2024 - onsemi (NASDAQ: ON) announced its fiscal 2024 first quarter results, with the following highlights:
1, revenue for the first quarter was $1,862.7 million
2, the first quarter Generally accepted accounting principles (" GAAP ") and non-GAAP gross margin was 45.8% and 45.9%, respectively
3.GAAP operating margin and non-GAAP operating margin for the first quarter were 28.2% and 29.0%, respectively
4. GAAP diluted earnings per share for the first quarter were $1.04 and non-GAAP diluted earnings per share were $1.08
5.Over the past 12 months, the company has returned ~100% of its free cash flow to shareholders through share repurchases
Hassane El-Khoury, ON‘s President and Chief Executive Officer, said: "We have made structural changes to our business over the past three years, which have allowed us to maintain our gross margin in challenging market conditions. In the current environment, we remain focused on execution while investing in long-term growth. "Electricity continues to play a key role in the world‘s growing energy demand and energy efficiency is critical, and we are well positioned to continue to grow our market share with our industry-leading portfolio of power and sensing technologies and products."
The following table summarizes some of the financial results for the first quarter of 2024 compared to comparable periods (unaudited) :
Second quarter 2024 outlook
The following table summarizes ON‘s GAAP and non-GAAP outlook for the second quarter of 2024:
About onsemi
onsemi (NASDAQ: ON) is committed to driving disruptive innovation and building a better future. The company focuses on megatrends in the automotive and industrial end markets, accelerating innovation and innovation in segments such as electronic vehicle functionality and automotive safety, sustainable power grids, industrial automation, and 5G and cloud infrastructure. On offers a highly differentiated portfolio of innovative products and smart power and intelligent perception technologies to solve the world‘s most complex challenges and lead the way in creating a safer, cleaner and smarter world. On is a Fortune 500 company and is included in the NASDAQ 100 Index and the S&P 500 Index. For more information about On Beauty, please visit: http://www.onsemi.cn.
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