ON Semiconductor Registers 26% Revenue Growth In Q3 Aided By EV, Industrial End Markets

  • ON Semiconductor Corp ON reported third-quarter FY22 revenue growth of 26% year-on-year to $2.19 billion, beating the consensus of $2.12 billion.
  • Revenue from Power Solutions Group (PSG) grew 25% Y/Y to $1.12 billion, Advanced Solutions Group (ASG) increased 20% Y/Y to $734.3 million, and Intelligent Sensing Group (ISG) rose 45% Y/Y to $342.2 million.
  • The non-GAAP gross margin expanded by 780 bps to 49.3%, and the non-GAAP operating margin expanded by 1,090 bps to 35.4%.
  • Non-GAAP EPS of $1.45 beat the consensus of $1.32.
  • ON Semiconductor generated $731 million in free cash flow and held $2.5 billion in cash and equivalents.
  • "onsemi has delivered another quarter of record results stemming from continued growth in our focus markets of automotive and industrial. We remain confident in our long-term outlook as we continue to win where semiconductor content growth is accelerating for vehicle electrification, energy infrastructure, advanced safety, and factory automation," said Hassane El-Khoury, president and CEO of onsemi.
  • Outlook: ON Semiconductor sees Q4 revenue of $2.01 billion - $2.14 billion, versus the consensus of $2.10 billion.
  • It sees non-GAAP EPS of $1.18 - $1.34 versus the consensus of $1.25.
  • Price Action: ON shares traded lower by 5.31% at $63.90 on the last check Monday.
  • Photo Via Company
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