”
Free cash flow increased approximately 3x year-over-year
onsemi (NASDAQ: ON) announced its fiscal 2024 first-quarter results, highlights:
• First-quarter revenue of $1,862.7 million
• GAAP and non-GAAP gross margin were 45.8% and 45.9%, respectively for the first quarter
• First-quarter GAAP operating margin and non-GAAP operating margin of 28.2% and 29.0%, respectively
• GAAP earnings per diluted share were $1.04 and non-GAAP earnings per diluted share were $1.08 in the first quarter
• Returned ~100% of free cash flow to shareholders through share buybacks over the last 12 months
Hassane El-Khoury, President and Chief Executive Officer of onsemi, said, "We have made structural adjustments to our business over the past three years, which has enabled us to maintain gross margins in challenging market conditions. In the current environment, we remain focused on execution while investing in long-term growth. "As electricity continues to play a key role in the world's growing energy demand, energy efficiency is critical, and we are poised to continue to expand our market share with our industry-leading power and sensing technologies and product portfolio." ”
The following table summarizes selected financial results (unaudited) for the first quarter of 2024 and for comparable periods:
(1) In the first quarter of 2024, onsemi restructured certain segments. As a result of the restructuring of PSG and AMG, prior-period amounts have been reclassified to conform to the presentation of the current period.
Outlook for the second quarter of 2024
The following table outlines onsemi's expected GAAP and non-GAAP outlook for the second quarter of 2024:
teleconference
onsemi has held a financial community conference call at 9 a.m. Eastern Standard Time (ET) on April 29, 2024 to discuss the release and onsemi's first-quarter and full-year 2024 results. The English conference call was broadcast live on the "Investor Relations" page http://www.onsemi.cn on the Company's website. The live webcast was replayed on the website approximately 1 hour later and lasted for 30 days.
关于安森美（onsemi）
onsemi (NASDAQ: ON) is committed to driving disruptive innovation for a better future. Focusing on megatrends in the automotive and industrial end markets, the company is accelerating transformative innovation in segments such as automotive electronics and safety, sustainable power grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated portfolio of innovative products and intelligent power and intelligent sensing technologies to solve the world's most complex challenges and lead the way in creating a safer, cleaner and smarter world. onsemi is ranked on the Fortune 500 U.S. and is included in the NASDAQ 100 and S&P 500 indices. To learn more about onsemi, please visit: http://www.onsemi.cn.