onsemi Reports Record Second Quarter 2022 Results – Quarterly Revenue Exceeds $2B for the First Time

PHOENIX — (BUSINESS WIRE) — August 1, 2022 — onsemi (the “Company”) (Nasdaq: ON) today announced results for the second quarter of 2022 with the following highlights:

  • Record revenue of $2,085.0 million, an increase of 25% year-over-year
  • Record GAAP and non-GAAP gross margin of 49.7%
  • GAAP operating margin of 28.0% increased 1,110 basis points year-over-year
  • Record non-GAAP operating margin of 34.5% increased 1,490 basis points year-over-year
  • GAAP diluted earnings per share of $1.02 as compared to $0.42 in the quarter a year ago
  • Non-GAAP diluted earnings per share more than doubled year-over-year to $1.34 from $0.63 on 25% increase in revenue
  • LTM free cash flow margin of 17%

“Our ability to execute on our business transformation continues to deliver record revenue performance with 25% year-over-year growth and non-GAAP gross margin expansion of 1,130 basis points to 49.7% in the second quarter. These financial results validate our momentum in the market and the differentiation of our intelligent power and sensing solutions. Our leadership in the accelerating megatrends of vehicle electrification, ADAS, energy infrastructure and factory automation have enabled us to extend long term supply agreements and increase demand visibility. While we are optimistic about our outlook, we remain sensitive to dynamic market conditions. The structural changes we implemented over the past 18 months have reduced the volatility in our financials, and we have positioned the company to be more resilient in all business environments,” said Hassane El-Khoury, president and CEO of onsemi.

Selected financial results for the quarter are shown below with comparable periods (unaudited):

 

GAAP

 

Non-GAAP

(in millions, except per share data)

Q2 2022

Q1 2022

Q2 2021

 

Q2 2022

Q1 2022

Q2 2021

Revenue

$2,085.0

$1,945.0

$1,669.9

 

$2,085.0

$1,945.0

$1,669.9

Gross Margin

49.7 %

49.4 %

38.3 %

 

49.7 %

49.4 %

38.4 %

Operating Margin

28.0 %

33.3 %

16.9 %

 

34.5 %

33.9 %

19.6 %

Net Income attributable to onsemi

$455.8

$530.2

$184.1

 

$589.3

$538.5

$275.8

Diluted Earnings Per Share

$1.02

$1.18

$0.42

 

$1.34

$1.22

$0.63

Revenue Summary

(in millions)

(Unaudited)

 

 

Three Months Ended

 

 

 

Business Segment

Q2 2022

Q1 2022

Q2 2021

 

Sequential
Change

Year over
Year Change

PSG

$

1,057.0

$

986.7

$

846.6

 

7 %

25 %

ASG

 

716.7

 

689.3

 

607.6

 

4 %

18 %

ISG

 

311.3

 

269.0

 

215.7

 

16 %

44 %

Total

$

2,085.0

$

1,945.0

$

1,669.9

 

7 %

25 %


1 | 2 | 3 | 4 | 5  Next Page »
Featured Video
Editorial
Jobs
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
Equipment Engineer, Raxium for Google at Fremont, California
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Mechanical Engineer 3 for Lam Research at Fremont, California
Upcoming Events
Celebrate Manufacturing Excellence at Anaheim Convention Center Anaheim CA - Feb 4 - 6, 2025
3DEXPERIENCE World 2025 at George R. Brown Convention Center Houston TX - Feb 23 - 26, 2025
TIMTOS 2025 at Nangang Exhibition Center Hall 1 & 2 (TaiNEX 1 & 2) TWTC Hall Taipei Taiwan - Mar 3 - 8, 2025
Additive Manufacturing Forum 2025 at Estrel Convention Cente Berlin Germany - Mar 17 - 18, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise