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On Semiconductor 8-K Report, Financial Results (May 4, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 4, 2026
Period End
May 4, 2026
Security
ON
In the record · 2016–202610-K1110-Q338-K162

ON filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 162 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Feb ’19Feb ’19
  2. Leadership change8-K · Mar ’21Mar ’21
  3. Material agreement8-K · Mar ’23Mar ’23
  4. Impairment8-K · Mar ’25Mar ’25

01—Abstract

Summary

Summary of the 8-K filed May 4, 2026. Cited figures are marked; the original filing is the authoritative source.

onsemi (Nasdaq: ON) filed an 8-K on May 4, 2026, furnishing a news release (Exhibit 99.1) announcing financial results for the first quarter ended April 3, 2026.

Revenue was $1,513.3 milliona, up from $1,445.7 million a year earlier and down from $1,530.1 million in the fourth quarter of 2025. GAAP results were weak: GAAP operating margin was (3.5)%, and GAAP diluted loss per share was ($0.08), driven by $329.3 million in restructuring, asset impairments and other charges. On a non-GAAP basis, gross margin was 38.5%, operating margin was 19.1%, and diluted EPS was $0.64.

Management said operating income rose 10% year over year, outpacing revenue growth by 2x, and described the company as having moved beyond the cyclical trough. Segment results showed Power Solutions Group (PSG) revenue of $736.6 millionb, up 14% year over year. Analog & Mixed-Signal Group (AMG) revenue was $540.4 million, down 5% year over year, and Intelligent Sensing Group (ISG) revenue was $236.3 million, up 1% year over year.

Management said AI data center revenue more than doubled year over year and grew more than 30% sequentially. Free cash flow was $217.2 millionc, and share repurchases totaled $346 million, or approximately 160% of free cash flow as stated in the release. For the second quarter of 2026, onsemi guided to revenue of $1,535 million to $1,635 million, a non-GAAP gross margin of 38.0% to 40.0%, and non-GAAP diluted EPS of $0.65 to $0.77.

GAAP diluted EPS guidance is $0.60 to $0.72d. The company also said it will hold a conference call at 5 p.m. ET on May 4, 2026.

02—Key points

Key Highlights

  1. Q1 2026 revenue was $1,513.3 million, above the midpoint of guidance and up 5% from Q1 2025 but down from $1,530.1 million in Q4 2025.
  2. GAAP diluted loss per share was ($0.08), versus ($1.15) a year earlier; non-GAAP diluted EPS was $0.64, versus $0.55 a year earlier.
  3. GAAP operating margin was (3.5)% and non-GAAP operating margin was 19.1%; GAAP operating loss reflected $329.3 million of restructuring, asset impairments and other charges.
  4. Non-GAAP gross margin was 38.5%, compared with 40.0% in Q1 2025 and 38.2% in Q4 2025.
  5. PSG revenue rose 14% year over year to $736.6 million, while AMG fell 5% to $540.4 million and ISG rose 1% to $236.3 million.
  6. AI data center revenue more than doubled year over year and grew more than 30% sequentially, according to management.
  7. Q2 2026 guidance calls for revenue of $1,535 million to $1,635 million and non-GAAP diluted EPS of $0.65 to $0.77.

03—Questions

Frequently Asked Questions

  1. How did onsemi perform in the first quarter of 2026?

    Revenue was $1,513.3 million, above the midpoint of guidance. GAAP diluted loss per share was ($0.08), while non-GAAP diluted EPS was $0.64. Net cash provided by operating activities was $239.1 million and free cash flow was $217.2 million.

  2. Why was GAAP profitability negative when non-GAAP results were positive?

    GAAP operating expenses included $329.3 million of restructuring, asset impairments and other charges, net, along with amortization of intangible assets and other special items. The company excludes these items from its non-GAAP measures.

  3. What is the outlook for the second quarter of 2026?

    onsemi expects revenue of $1,535 million to $1,635 million, a GAAP gross margin of 37.9% to 39.9%, and GAAP diluted EPS of $0.60 to $0.72. Non-GAAP diluted EPS is projected at $0.65 to $0.77.

  4. How did the business segments perform?

    PSG revenue was $736.6 million, up 14% year over year. AMG revenue was $540.4 million, down 5% year over year, and ISG revenue was $236.3 million, up 1% year over year. Total revenue was down 1% sequentially from Q4 2025.

  5. How much did onsemi return to shareholders?

    The company repurchased $346 million of shares in the quarter, which the release states was approximately 160% of free cash flow. The cash flow statement shows repurchases of common stock of $345.7 million.

04—Continue

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