Quarterly ResultMay 4, 2026, 04:08 PM
onsemi Q1 Revenue $1.51B, Non-GAAP EPS $0.64; Operating Income +10% YoY
AI Summary
onsemi announced strong first quarter 2026 results, exceeding its revenue guidance with $1.513 billion and reporting non-GAAP diluted EPS of $0.64. The company achieved a 10% year-over-year increase in operating income, double the rate of revenue growth, demonstrating significant operating leverage. Strategic business highlights included a more than doubling of AI data center revenue and leadership in 900V EV architectures. For the second quarter of 2026, onsemi projects revenue between $1.535 billion and $1.635 billion.
Key Highlights
- Q1 2026 Revenue reached $1,513 million, exceeding the midpoint of guidance.
- Non-GAAP diluted earnings per share for Q1 2026 was $0.64.
- Non-GAAP gross margin stood at 38.5% and non-GAAP operating margin at 19.1%.
- Operating income grew 10% year-over-year, outpacing revenue growth by 2x.
- AI data center revenue more than doubled year-over-year.
- The company repurchased $346 million in shares, representing 160% of free cash flow.
- Power Solutions Group (PSG) revenue increased 14% year-over-year to $736.6 million.
- Q2 2026 revenue is projected to be between $1,535 million and $1,635 million.