ON Semiconductor Reports 2023 Financial Results and Q1 2024 Outlook

Details

The company reported Q4 revenue of $2,018.1 million and full-year 2023 revenue of $8,253.0 million, with GAAP and non-GAAP diluted EPS of $1.28 and $1.25, respectively. Full-year 2023 net income was $2,183.7 million. The company also provided its outlook for Q1 2024, projecting revenue between $1,800 and $1,900 million and GAAP diluted EPS between $0.94 and $1.06.

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About On Semiconductor Corporation

On Semiconductor Corporation, commonly known as onsemi, is a leading semiconductor supplier focused on complete intelligent sensing and energy-efficient solutions. The company provides innovative and reliable products that improve energy efficiency and enable the latest green technologies. onsemi's portfolio includes power management, analog, sensors, connectivity, custom, and system-on-chip (SoC) solutions. It serves a variety of markets, such as automotive, industrial, communications, and consumer electronics. The primary function of onsemi is to enhance the performance and efficiency of electronic products used in everyday life and in critical applications ranging from smart grids to advanced driver-assistance systems (ADAS). With a strong emphasis on research and development, onsemi is dedicated to driving advancements in technology that facilitate cleaner energy consumption and smarter electronic systems. Within the financial markets, onsemi plays a significant role given its strategic position in key growth sectors like electric vehicles and smart infrastructure. By leveraging cutting-edge technologies, the corporation continually contributes to the advancement of semiconductor technologies, reinforcing its relevance as a pivotal entity in the evolving landscape of global electronics and electrification initiatives.