- ON Semiconductor Corp (NASDAQ:ON) reported fourth-quarter FY21 revenue growth of 28% year-on-year to $1.85 billion, beating the consensus of $1.79 billion.
- Revenue from Power Solutions Group (PSG) grew 33% Y/Y to $953.4 million, Advanced Solutions Group (ASG) increased 24% Y/Y to $647.3 million, and Intelligent Sensing Group (ISG) rose 18% Y/Y to $245.4 million.
- The non-GAAP gross margin expanded 1,080 bps to 45.2%, and the non-GAAP operating margin expanded by 1,440 bps to 28.6%.
- Non-GAAP EPS of $1.09 beat the consensus of $0.94.
- ON Semiconductor generated $626.6 million in operating cash flow during the quarter. It held $1.35 billion in cash and equivalents at quarter-end.
- Outlook: ON Semiconductor sees Q1 FY22 revenue of $1.85 billion - $1.95 billion, above the consensus of $1.78 billion.
- It sees non-GAAP EPS of $0.98 - $1.10, above the consensus of $0.81.
- "Outlook for our business remains robust as evidenced by over 60% year-over-year growth in our design win funnel driven by our highly differentiated intelligent power and sensing portfolio," said CEO Hassane El-Khoury.
- Price Action: ON shares traded higher by 7.30% at $61.61 on the last check Monday.
