Investing.com — onsemi reported third-quarter earnings and income that surpassed analyst expectations however offered fourth-quarter income steerage under consensus estimates. The semiconductor firm’s inventory rose 1.7% following the announcement.
For the third quarter, onsemi posted adjusted earnings per share of $0.99, beating the analyst estimate of $0.97. Income got here in at $1.76 billion, barely above the consensus estimate of $1.75 billion however down 19% YoY.
The corporate’s gross margin improved to 45.5% on a non-GAAP foundation, up from 45.3% within the earlier quarter. Working margin additionally elevated to twenty-eight.2% from 27.5% sequentially.
Trying forward, onsemi forecasts fourth-quarter income between $1.71 billion and $1.81 billion, with the midpoint of $1.76 billion falling wanting the $1.78 billion analyst consensus. The corporate expects adjusted earnings per share between $0.92 and $1.04 for This autumn, in comparison with the $1.00 consensus estimate.
“With third-quarter outcomes above expectations, we stay centered on delivering constant leads to the present atmosphere by execution and prudent monetary administration,” stated Hassane El-Khoury, president and CEO of onsemi.
The corporate reported that it returned 75% of free money stream over the past 12 months to shareholders by inventory repurchases.
onsemi’s Energy Options Group (PSG) phase noticed a 23% YoY decline in income to $829.4 million, whereas the Superior Options Group (AMG) income fell 16% YoY to $653.7 million. The Clever Sensing Group (ISG) income decreased 15% YoY to $278.8 million.