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For fourth-quarter 2022, onsemi expects revenues between $2.01 billion and $2.14 billion. Earnings are expected to be $1.18-$1.34 per share.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.27 per share, up by a penny over the past 30 days, indicating growth of 16.51% from the figure reported in the year-ago quarter.
The consensus mark for revenues stands at $2.08 billion, suggesting an improvement of 12.66% from the year-ago quarter’s reported figure.
onsemi’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 12.30%.
ON Semiconductor Corporation Price and EPS Surprise
Let’s see how things have shaped up prior to this announcement.
Factors to Note
onsemi’s fourth-quarter performance is likely to have benefited from increased adoption of its products in end-markets like electric vehicles (EV), advanced driver assistance systems, and energy infrastructure and factory automation.
The company’s expanding portfolio of highly-differentiated intelligent power and sensing products has been attracting customers. Moreover, onsemi has been rapidly expanding its capacity across new sites like Hudson, NH. These factors are likely to have driven its fourth-quarter top-line growth.
Manufacturing efficiencies, the reallocation of capacity to strategic and high-margin products to drive favorable mix shift, and continued elimination of price-to-value discrepancies are likely to have driven higher margin performance in the to-be-reported quarter.
In this regard, divestments of fabs in Belgium, South Portland, Pocatello, and Niigata, Japan, facilities are expected to have benefited gross margin expansion, as well as reduced fixed costs.
However, onsemi’s fourth-quarter performance is expected to have been affected by global supply-chain constraints. Also, continued weakness in non-strategic end markets of computing and consumer is expected to have hurt top-line growth.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
onsemi has an Earnings ESP of +0.34% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are a few other companies worth considering, as our model shows that these too have the right combination of elements to beat on earnings in their upcoming releases:
Image: Shutterstock
onsemi (ON) to Report Q4 Earnings: What's in the Cards?
onsemi (ON - Free Report) is slated to release its fourth-quarter 2022 results on Feb 6.
For fourth-quarter 2022, onsemi expects revenues between $2.01 billion and $2.14 billion. Earnings are expected to be $1.18-$1.34 per share.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.27 per share, up by a penny over the past 30 days, indicating growth of 16.51% from the figure reported in the year-ago quarter.
The consensus mark for revenues stands at $2.08 billion, suggesting an improvement of 12.66% from the year-ago quarter’s reported figure.
onsemi’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 12.30%.
ON Semiconductor Corporation Price and EPS Surprise
ON Semiconductor Corporation price-eps-surprise | ON Semiconductor Corporation Quote
Let’s see how things have shaped up prior to this announcement.
Factors to Note
onsemi’s fourth-quarter performance is likely to have benefited from increased adoption of its products in end-markets like electric vehicles (EV), advanced driver assistance systems, and energy infrastructure and factory automation.
The company’s expanding portfolio of highly-differentiated intelligent power and sensing products has been attracting customers. Moreover, onsemi has been rapidly expanding its capacity across new sites like Hudson, NH. These factors are likely to have driven its fourth-quarter top-line growth.
Manufacturing efficiencies, the reallocation of capacity to strategic and high-margin products to drive favorable mix shift, and continued elimination of price-to-value discrepancies are likely to have driven higher margin performance in the to-be-reported quarter.
In this regard, divestments of fabs in Belgium, South Portland, Pocatello, and Niigata, Japan, facilities are expected to have benefited gross margin expansion, as well as reduced fixed costs.
However, onsemi’s fourth-quarter performance is expected to have been affected by global supply-chain constraints. Also, continued weakness in non-strategic end markets of computing and consumer is expected to have hurt top-line growth.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
onsemi has an Earnings ESP of +0.34% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are a few other companies worth considering, as our model shows that these too have the right combination of elements to beat on earnings in their upcoming releases:
Cambium Networks (CMBM - Free Report) has an Earnings ESP of +9.27% and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cambium shares have declined 9.9% in the past year. CMBM is set to report its fourth-quarter 2022 results on Feb 16.
Bruker (BRKR - Free Report) has an Earnings ESP of +3.88% and a Zacks Rank of 2 at present.
Bruker shares have gained 8.2% in the past year. BRKR is set to report its fourth-quarter 2022 results on Feb 9.
Perion Network (PERI - Free Report) currently has an Earnings ESP of +13.40% and a Zacks Rank #3.
Perion shares have gained 76.1% in the past year. PERI is set to report its fourth-quarter 2022 results on Feb 8.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.