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onsemi 1Q 2024 Results Exceed Expectations

Increased free cash flow approximately 3x year-over-year

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

onsemi announced results for the first quarter of 2024. The company reported revenue of $1,862.7 million, and GAAP gross margin and non-GAAP gross margin of 45.8% and 45.9%, respectively. GAAP operating margin and non-GAAP operating margin were 28.2% and 29.0%, respectively

“The structural changes we have made to the business over the last three years have enabled us to sustain our gross margin despite challenging market conditions,” said Hassane El-Khoury, president and CEO of onsemi. “In the current environment, we remain focused on execution while investing for our long-term growth.”

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