ON Semiconductor (ON)
NASDAQ:ON
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Earnings Data
Report Date
Aug 03, 2026During Market Hours (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.68Last Year’s EPS
0.53Same Quarter Last Year
Moderate Buy
Based on 26 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights a clear inflection with accelerating AI data center revenue (>30% QoQ; expected to double YoY in 2026), a strong Treo ramp (2.5x sequential growth), continued gross margin expansion to 38.5%, solid liquidity and aggressive shareholder returns. Offsetting these positives are one-time and GAAP-level restructuring charges, planned non-core exits (~$300M annualized), mixed unit-level performance (AMG and ISG declines QoQ), elevated inventory days, and near-term input-cost pressure and lead-time dynamics. Overall, the company presented multiple secular growth drivers (AI, Treo, GaN/SiC, energy storage) and improving operating leverage that outweigh the listed near-term challenges.Company Guidance
Revenue and EPS Beat
Q1 revenue of $1.51 billion (above midpoint of guidance); non-GAAP diluted EPS of $0.64 (also above midpoint). Q1 revenue was down 1% QoQ but up 5% YoY.
Gross Margin Expansion and Operating Leverage
Non-GAAP gross margin expanded to 38.5% for the third consecutive quarter; non-GAAP operating margin 19.1%. Management expects sequential gross margin expansion throughout 2026.
AI Data Center Acceleration
AI data center revenue grew >30% quarter-over-quarter in Q1 and management now expects AI data center revenue to double year-over-year in 2026 (from roughly $250M in 2025 to ~2x in 2026).
Treo Platform Rapid Ramp
Treo platform revenue increased more than 2.5x sequentially in Q1 with broader adoption across automotive, industrial and AI applications; Treo gross margin asserted in 60–70% range (management commentary).
GaN and SiC Pipeline Strength
GaN solutions design funnel >$1.5 billion; 10 vertical GaN products already sampling and another ~20 products sampling in 2026 with revenue expected to begin in 2027. Silicon carbide content ~55% share of new EV models at the 2026 Beijing Auto Show.
Automotive Stabilization and Wins
Automotive revenue $797 million in Q1, roughly flat QoQ and up nearly 5% YoY — the first YoY growth after seven quarters of decline. New IGBT traction inverter program awarded with a North American OEM and production shipments began for Treo-based T1S Ethernet zonal solution.
Strong Cash Position and Shareholder Returns
Cash and short-term investments ~$2.44 billion; total liquidity ~$3.9 billion. Cash from operations $239 million; free cash flow $217 million. Returned $346 million to shareholders in Q1 via share repurchases (nearly 160% of free cash flow).
Power Solutions Group and Industrial Momentum
Power Solutions Group (PSG) revenue $737 million (up 2% QoQ and 14% YoY). Industrial adjacent markets (ESS and microgrid) expected to outpace power semiconductor growth with >40% revenue growth YoY and market share approaching ~60%.
Conservative Capital Intensity Guidance
Q1 capex $22 million (1.4% of revenue); Q2 capex guidance $25–35 million. Management expects mid-single-digit percentage of revenue capital intensity to continue and no near-term large capacity additions.
Q2 Guidance Above Seasonal
Q2 non-GAAP revenue guidance $1.535B–$1.635B (excluding $30–40M of non-core exits, midpoint implies ~7% sequential growth); non-GAAP gross margin guidance 38%–40%; non-GAAP EPS guidance $0.65–$0.77.
ON Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ON Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 04, 2026 | $102.04 | ― | ― |
Feb 09, 2026 | $65.10 | $67.38 | +3.50% |
Nov 03, 2025 | $50.08 | $50.46 | +0.76% |
Aug 05, 2025 | $47.97 | $47.24 | -1.52% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does ON Semiconductor (ON) report earnings?
ON Semiconductor (ON) is schdueled to report earning on Aug 03, 2026, During Market Hours (Confirmed).
What is ON Semiconductor (ON) earnings time?
ON Semiconductor (ON) earnings time is at Aug 03, 2026, During Market Hours (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ON EPS forecast?
ON EPS forecast for the fiscal quarter 2026 (Q2) is 0.68.
