ON Semiconductor (ON) Tops Q4 EPS by 5c; Guides Q1 Revs Modestly Below the Street
After the close Friday, ON Semiconductor (NASDAQ: ON) reported Q4 EPS of $0.53, $0.05 better than the analyst estimate of $0.48. Revenue for the quarter came in at $1.5 billion versus the consensus estimate of $1.5 billion.
"We once again delivered strong performance in the fourth quarter despite slowdown in macroeconomic conditions. Key secular trends driving growth in our content in automotive, industrial, and cloud-power end-markets remain intact, and we remain upbeat about our medium to long term outlook. Our design-win pipeline in our strategic markets is growing at a strong pace, our customer engagements are strengthening, and our competitive position is improving significantly," said Keith Jackson, president and CEO of ON Semiconductor. "Despite confidence in our medium to long term outlook, we remain cognizant of slowing macroeconomic conditions, and we are managing our business prudently to adjust to changing demand environment."
"Along with strong revenue performance, we intend to continue to deliver solid margin and free cash flow performance through strong execution on operational front."
GUIDANCE:
ON Semiconductor sees Q1 2019 revenue of $1.365-1.415 billion, versus the consensus of $1.46 billion.
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