ON Semiconductor Corp

Latest Results (17.12.2024):

Revenue Performance

ON Semiconductor Corp reported fourth quarter 2023 revenue of $2,018.1 million, reflecting a decrease from the previous quarter's $2,180.8 million and a slight decline compared to the $2,103.6 million in the fourth quarter of 2022. For the full year 2023, the company achieved total revenue of $8,253.0 million, which is a slight decrease from $8,326.2 million in 2022.

Profit Margins

In the fourth quarter of 2023, ON Semiconductor Corp achieved a GAAP gross margin of 46.7% and a non-GAAP gross margin of 46.7%. The GAAP operating margin was 30.3%, while the non-GAAP operating margin was slightly higher at 31.6%. These figures indicate a slight decrease in margins compared to the previous quarters.

Earnings Per Share

ON Semiconductor Corp reported a GAAP diluted earnings per share of $1.28 and a non-GAAP diluted earnings per share of $1.25 for the fourth quarter of 2023. This represents a slight decrease from the previous quarter's GAAP diluted earnings per share of $1.29 and non-GAAP diluted earnings per share of $1.39.

Automotive Revenue Growth

For the full year 2023, ON Semiconductor Corp achieved record automotive revenue of $4.3 billion, marking a significant 29% increase year-over-year. This growth highlights the company's strong performance in the automotive sector, driven by increased demand for its products in this market.

Share Repurchases

ON Semiconductor Corp repurchased $564 million worth of shares in 2023, representing 140% of its free cash flow. This strategic move underscores the company's commitment to returning value to shareholders and reflects confidence in its long-term growth prospects.