ON Semiconductor reports Q1 EPS $1.03, consensus $1.09

Reports Q1 revenue $1.96B, consensus $1.92B. "We continued our momentum with first quarter results exceeding expectations despite macroeconomic uncertainties. Our accelerating Silicon Carbide manufacturing output exceeded our internal plans and enabled us to nearly double our silicon carbide revenue quarter-over-quarter, and we grew both ADAS and energy infrastructure revenue by approximately 50% year-over-year. As secular tailwinds propel our business, we are prudently managing our operations to deliver consistent and predictable results in the current market environment," said Hassane El-Khoury, president and CEO of onsemi.