onsemi Reports 4Q, Full Year 2024 Results

onsemi announced its fourth quarter and fiscal year 2024 results with the following highlights:
• Fourth quarter revenue of $1,722.5 million
• Fourth quarter GAAP gross margin and non-GAAP gross margin of 45.2% and 45.3%, respectively
• Fourth quarter GAAP operating margin and non-GAAP operating margin of 23.7% and 26.7%, respectively
• Fourth quarter GAAP diluted earnings per share of $0.88 and non-GAAP diluted earnings per share of $0.95, respectively
• Full year 2024 free cash flow of $1.2 billion, a 3X increase year-over-year

“As we continue to navigate this market downturn, our actions over the last four years have proven we are a structurally different company that is well-equipped to navigate prolonged volatility,” said Hassane El-Khoury, president and CEO, onsemi. “While 2025 remains uncertain, we remain committed to our long-term strategy. We will maintain our financial discipline, streamline our operations and continue to deliver high value, differentiated intelligent power and sensing solutions that position onsemi to emerge even stronger.”