ON Semiconductor Corp Expects Q1 Revenue of $1.8B-$1.9B Vs $1.92B Est, Adj EPS of $0.98-$1.10 Vs $1.10 Est
Portfolio Pulse from Benzinga Newsdesk
ON Semiconductor Corp (ON) projects Q1 2024 revenue to be between $1.8B-$1.9B, below the estimated $1.92B, and adjusted EPS to range from $0.98-$1.10, potentially missing the $1.10 estimate. The forecast includes a GAAP gross margin of 44.4%-46.4%, operating expenses between $320M-$335M, and diluted EPS of $0.94-$1.06.
February 05, 2024 | 1:05 pm
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ON Semiconductor Corp expects Q1 2024 revenue and adjusted EPS to potentially fall short of estimates, with revenue projected between $1.8B-$1.9B vs. $1.92B estimate and adjusted EPS between $0.98-$1.10 vs. $1.10 estimate.
The projected shortfall in both revenue and adjusted EPS compared to analyst estimates could lead to negative investor sentiment in the short term, potentially impacting ON's stock price negatively.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100