ON Semiconductor Guides Q2 Well Below Estimates - Update

(RTTNews) - While reporting financial results for the first quarter on Monday, ON Semiconductor Corp. (ON) provided earnings and revenue guidance for the second quarter of fiscal 2023.

For the second quarter, the company projects earnings in a range of $1.08 to $1.22 per share and adjusted earnings in a range of $1.14 to $1.28 per share on revenues between $1.975 billion and $2.075 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.06 per share on revenues of $1.93 billion for the quarter. Analysts' estimates typically exclude special items.

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