ON Semiconductor (ON) reported earnings on Mon 29 Oct 2018 (b/o)

** charts before earnings **

 

** charts after earnings **

 

ON Semiconductor beats by $0.06, beats on revs; guides Q4 revs above consensus

• Reports Q3 (Sep) earnings of $0.57 per share, excluding non-recurring items, $0.06 better thanthe S&P Capital IQ Consensus of $0.51; revenues rose 10.8% year/year to $1.54 bln vs the $1.51 bln S&P Capital IQ Consensus.
• Co issues upside guidance for Q4, sees Q4 revs of $1.48-1.53 bln vs. $1.47 bln S&P Capital IQ Consensus.
• Fourth quarter outlook includes contribution from ON Semiconductor Aizu Co., which is a manufacturing joint venture for an 8-inch wafer fab located in Aizu-Wakamatsu, Japan. With its recent purchase of additional 20 percent share in the joint venture, ON Semiconductor now owns 60 percent share in the joint venture, and consequently, the Company will report operational results of the joint venture in its consolidated financial statements starting with fourth quarter of 2018