ON Semiconductor (ON) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Aug 03, 2026

During Market Hours (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.58

Last Year’s EPS

0.43

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 24 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 04, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call highlights a clear inflection with accelerating AI data center revenue (>30% QoQ; expected to double YoY in 2026), a strong Treo ramp (2.5x sequential growth), continued gross margin expansion to 38.5%, solid liquidity and aggressive shareholder returns. Offsetting these positives are one-time and GAAP-level restructuring charges, planned non-core exits (~$300M annualized), mixed unit-level performance (AMG and ISG declines QoQ), elevated inventory days, and near-term input-cost pressure and lead-time dynamics. Overall, the company presented multiple secular growth drivers (AI, Treo, GaN/SiC, energy storage) and improving operating leverage that outweigh the listed near-term challenges.

Company Guidance

ON Semiconductor guided Q2 non‑GAAP revenue of $1.535–$1.635 billion (noting an incremental $30–$40M of non‑core exits; excluding those exits revenue would rise ~7% at the midpoint and be above seasonal), non‑GAAP gross margin of 38%–40% (includes $6M of share‑based comp), non‑GAAP operating expenses of $287–$302M (includes $28M SBC), non‑GAAP other income a net benefit of ~$6M (interest income > interest expense), a non‑GAAP tax rate of ~15%, non‑GAAP diluted share count ~194M, implying non‑GAAP EPS of $0.65–$0.77, and Q2 capex of $25–$35M; management also said Q1 utilization was 77% (Q2 flat to slightly up), expects sequential gross‑ and operating‑margin expansion throughout 2026, has line of sight to exiting roughly $300M of non‑core revenue in 2026 (including ~$50M in Q1 plus the Q2 exits), and reiterated that AI data‑center revenue should double year‑over‑year in 2026; balance‑sheet liquidity noted: cash & short‑term investments ≈$2.44B and total liquidity ≈$3.9B (≈$1.5B undrawn revolver).

Revenue and EPS Beat

Q1 revenue of $1.51 billion (above midpoint of guidance); non-GAAP diluted EPS of $0.64 (also above midpoint). Q1 revenue was down 1% QoQ but up 5% YoY.

Gross Margin Expansion and Operating Leverage

Non-GAAP gross margin expanded to 38.5% for the third consecutive quarter; non-GAAP operating margin 19.1%. Management expects sequential gross margin expansion throughout 2026.

AI Data Center Acceleration

AI data center revenue grew >30% quarter-over-quarter in Q1 and management now expects AI data center revenue to double year-over-year in 2026 (from roughly $250M in 2025 to ~2x in 2026).

Treo Platform Rapid Ramp

Treo platform revenue increased more than 2.5x sequentially in Q1 with broader adoption across automotive, industrial and AI applications; Treo gross margin asserted in 60–70% range (management commentary).

GaN and SiC Pipeline Strength

GaN solutions design funnel >$1.5 billion; 10 vertical GaN products already sampling and another ~20 products sampling in 2026 with revenue expected to begin in 2027. Silicon carbide content ~55% share of new EV models at the 2026 Beijing Auto Show.

Automotive Stabilization and Wins

Automotive revenue $797 million in Q1, roughly flat QoQ and up nearly 5% YoY — the first YoY growth after seven quarters of decline. New IGBT traction inverter program awarded with a North American OEM and production shipments began for Treo-based T1S Ethernet zonal solution.

Strong Cash Position and Shareholder Returns

Cash and short-term investments ~$2.44 billion; total liquidity ~$3.9 billion. Cash from operations $239 million; free cash flow $217 million. Returned $346 million to shareholders in Q1 via share repurchases (nearly 160% of free cash flow).

Power Solutions Group and Industrial Momentum

Power Solutions Group (PSG) revenue $737 million (up 2% QoQ and 14% YoY). Industrial adjacent markets (ESS and microgrid) expected to outpace power semiconductor growth with >40% revenue growth YoY and market share approaching ~60%.

Conservative Capital Intensity Guidance

Q1 capex $22 million (1.4% of revenue); Q2 capex guidance $25–35 million. Management expects mid-single-digit percentage of revenue capital intensity to continue and no near-term large capacity additions.

Q2 Guidance Above Seasonal

Q2 non-GAAP revenue guidance $1.535B–$1.635B (excluding $30–40M of non-core exits, midpoint implies ~7% sequential growth); non-GAAP gross margin guidance 38%–40%; non-GAAP EPS guidance $0.65–$0.77.

ON Semiconductor (CH:ON) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CH:ON Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 03, 2026	2026 (Q2)	0.58 / -	0.429	―	―	―
May 04, 2026	2026 (Q1)	0.50 / 0.52	0.445	16.36% (+0.07)
Feb 09, 2026	2025 (Q4)	0.50 / 0.52	0.768	-32.63% (-0.25)
Nov 03, 2025	2025 (Q3)	0.48 / 0.51	0.801	-36.36% (-0.29)
Aug 05, 2025	2025 (Q2)	0.43 / 0.43	0.776	-44.79% (-0.35)
May 05, 2025	2025 (Q1)	0.41 / 0.44	0.874	-49.07% (-0.43)
Feb 10, 2025	2024 (Q4)	0.79 / 0.77	1.011	-24.00% (-0.24)
Oct 28, 2024	2024 (Q3)	0.79 / 0.80	1.124	-28.78% (-0.32)
Jul 29, 2024	2024 (Q2)	0.74 / 0.78	1.076	-27.82% (-0.30)
Apr 29, 2024	2024 (Q1)	0.84 / 0.87	0.962	-9.24% (-0.09)