ON Semiconductor Non-GAAP EPS of $1.09 beats by $0.15, revenue of $1.85B beats by $60M
ON Semiconductor press release (NASDAQ:ON): Q4 Non-GAAP EPS of $1.09 beats by $0.15.
Revenue of $1.85B (+27.6% Y/Y)  beats by $60M.
Shares +3.22% PM.

Guidance: For Q122 the company expects revenue in the range of $1.85B to $1.95B vs. consensus of $1.78B and EPS in the range of $0.98 to $1.10 vs. consensus of $0.82

âOur disciplined execution on transformation initiatives in 2021 resulted in record financial performance and achievement of our financial targets ahead of stated timeline. Revenue for 2021 grew 28.3%. Operating income and free cash flow increased 6 times faster than the revenue as we focus our portfolio on secular megatrends of electric vehicles, ADAS, alternative energy and industrial automation. We continue to expand gross margins as we shift our mix into these high-value strategic markets while ramping new products, rationalizing our manufacturing footprint, and improving our overall cost structure. Outlook for our business remains robust as evidenced by over 60% year-over-year growth in our design win funnel driven by our highly differentiated intelligent power and sensing portfolio,â said Hassane El-Khoury, president and CEO of onsemi.
Note: The revised post corrects Non-GAAP EPS.