Source: ON Mei Author: On Mei
    February 11, 2025 - onsemi (NASDAQ: ON) announced its fourth quarter and full year 2024 results, with the following highlights:
    Fourth quarter revenue was $1,722.5 million;
    Generally Accepted accounting principles (" GAAP ") and non-GAAP gross margin for the fourth quarter were 45.2% and 45.3%, respectively;
    GAAP operating margin and non-GAAP operating margin for the fourth quarter were 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;
    Free cash flow for the full year 2024 was $1.2 billion, a threefold increase from the previous year.
    "As we continue to deal with the market downturn, the initiatives of the past four years have proven that ON's continuously optimized strategic structure is strong enough to deal with long-term volatility," said Hassane El-Khoury, President and CEO of ON, "Despite the uncertainties of 2025, ON will remain committed to its long-term strategy and maintain financial discipline. Streamlining operations and continuing to deliver high-value, differentiated smart power and smart perception solutions position the company to be more competitive in the market."
    The following table summarizes some of the financial results for the fourth quarter of 2024 and comparable periods (unaudited) :

    Outlook for the first quarter 2025
    The following table summarizes ON's GAAP and non-GAAP outlook for the first quarter of 2025: