ON Semiconductor Corporation: Beat — EPS $0.90, Revenue $1.72B
Earnings BeatQ3 2026 · After-market
Did ON Semiconductor Corporation (ON) beat earnings today?
Yes, ON Semiconductor Corporation (ON) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+2.27% surprise
$0.90Actual
Expected: $0.88
vs. year ago +42.9%
Total Revenue+0.72% surprise
$1.72BActual
Expected: $1.71B
vs. year ago +11.0%
Released Nov 02 · 4:11 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $1.72B | $1.55B | +11.0 |
| Revenue detail — reported lines | |||
| └─PSG | $889.90M | $737.60M | +21.0 |
| └─AMG | $597.30M | $583.30M | +2.0 |
| └─ISG | $235.10M | $230.00M | +2.0 |
| Net Income | $313.90M | $255.00M | +23.1 |
| Non-GAAP Net Income | $354.00M | $256.30M | +38.1 |
| GAAP Basic EPS | $0.81 | $0.63 | +28.6 |
| GAAP Diluted EPS | $0.79 | $0.63 | +25.4 |
| Non-GAAP Diluted EPS | $0.90 | $0.63 | +42.9 |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook | Expected | Full Year Outlook |
|---|---|---|---|
| Revenue | $1,715 to $1,815 million | $1.74BBeat +1.44% | — |
| Gross Margin | 41.4% to 43.4% | — | — |
| Non-GAAP Gross Margin | 41.5% to 43.5% | — | — |
| Operating Expenses | $331 to $346 million | — | — |
| Non-GAAP Operating Expenses | $303 to $318 million | — | — |
| Other Income and Expense (including interest), net | ($27 million) | — | — |
| Diluted Earnings Per Share | $0.88 to $1.00 | $0.96Missed -2.08% | — |
| Non-GAAP Diluted Earnings Per Share | $0.95 to $1.07 | — | — |
| Diluted Shares Outstanding | 397 million | — | — |
| Non-GAAP Diluted Shares Outstanding | 392 million | — | — |
Business Highlights
- ➤Announced agreement to acquire Ferric for next-generation AI processor power delivery.
- ➤Raised AI data center 2030 revenue target by $500 million to greater than $3 billion.
- ➤Revised planned Synaptics acquisition terms to approximately $5.7 billion in cash.
- ➤Entered strategic technology engagement with Subaru for early access to Embedded Power Platform.
- ➤Sungrow adopted latest EliteSiC silicon carbide hybrid power module technology.
Management Commentary
Hassane El-Khoury, President and CEO of onsemi
“Increasing power requirements are driving accelerated demand in our AI data center and industrial end markets, as customers adopt and ramp our differentiated products. Our third quarter revenue, gross margin and earnings per share exceeded the midpoint of our guidance, while AI data center revenue grew 39% sequentially and 175% year-over-year.”
Thad Trent, EVP and CFO of onsemi
“Gross margin expanded for the fifth consecutive quarter, increasing 190 basis points sequentially. Our results continue to demonstrate the operating leverage in our model, with earnings per share growing more than 40% year-over-year on 11% revenue growth. As we execute our ongoing fab right initiatives and ramp new differentiated products, we are driving further margin and earnings expansion, positioning onsemi for durable, profitable growth.”