ON Q1 2025 Earnings
Reported May 5, 2025 at 8:05 AM ET · SEC Source
Q1 25 EPS
$0.55
BEAT +9.58%
Est. $0.50
Q1 25 Revenue
$1.45B
BEAT +3.13%
Est. $1.40B
vs S&P Since Q1 25
+139.0%
BEATING MARKET
ON +168.0% vs S&P +29.0%
Market Reaction
Did ON Beat Earnings? Q1 2025 Results
ON Semiconductor navigated a bruising cyclical downturn with better-than-feared results in Q1 2025, posting non-GAAP EPS of $0.55 against a consensus estimate of $0.50, a beat of 9.58%, while revenue of $1.45 billion topped the $1.40 billion analyst … Read more ON Semiconductor navigated a bruising cyclical downturn with better-than-feared results in Q1 2025, posting non-GAAP EPS of $0.55 against a consensus estimate of $0.50, a beat of 9.58%, while revenue of $1.45 billion topped the $1.40 billion analyst forecast by 3.13%, even as sales fell 22.4% year-over-year. The headline numbers masked significant GAAP charges, with $539.30 million in restructuring and asset impairment costs helping push GAAP gross margin to just 20.3%, though non-GAAP gross margin held at 40.0%, reflecting the company's disciplined cost management through the downturn. A genuine standout was free cash flow of $454.70 million, representing 31% of revenue and rising 72% year-over-year, with the company returning $300.10 million to shareholders via buybacks. Despite the earnings beat, shares fell sharply in pre-market trading, underscoring investor unease over a 26% sequential drop in automotive revenue. Looking ahead, onsemi guided Q2 revenue of $1.40 billion to $1.50 billion, with non-GAAP EPS of $0.48 to $0.58, signaling relatively stable sequential performance.
Key Takeaways
- • Disciplined cost structure management through industry downturn
- • Manufacturing footprint right-sizing
- • Portfolio rationalization
- • Strong design win momentum across all end-markets
- • Free cash flow increased 72% year-over-year to 31% of revenue
ON YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
ON Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our results in the first quarter reflect the disciplined approach we have maintained through this downturn – managing our cost structure, right-sizing our manufacturing footprint, and rationalizing our portfolio – enabling us to generate increased free cash flow. We are committed to long-term value creation and we are accelerating our capital return to shareholders while investing in our future growth.”
— Hassane El-Khoury, Q1 2025 Earnings Press Release
ON Earnings Trends
ON vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ON EPS Trend
Earnings per share: estimate vs actual
ON Revenue Trend
Quarterly revenue: estimate vs actual
ON Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.62 | $0.64 | +2.63% | $1.53B | -0.45% |
| FY Full Year | $2.34 | $2.35 | +0.32% | $6.00B | -0.12% |
| Q3 25 BEAT | $0.59 | $0.63 | +6.64% | $1.55B | +2.23% |
| Q2 25 MISS | $0.53 | $0.53 | -0.39% | $1.47B | +1.21% |
| Q1 25 BEAT | $0.50 | $0.55 | +9.58% | $1.45B | +3.13% |