ON Semiconductor(ON) - 2024 Q1 - Quarterly Results

Exhibit 99.1 onsemi First Quarter 2024 Results Exceed Expectations Increased free cash flow approximately 3x year-over-year SCOTTSDALE, Ariz, – Apr 29, 2024 – onsemi (the “Company”) (Nasdaq: ON) today announced results for the first quarter of 2024 with the following highlights: • Revenue of $1,862.7 million • GAAP gross margin and non-GAAP gross margin of 45.8 percent and 45.9 percent, respectively • GAAP operating margin and non-GAAP operating margin of 28.2 percent and 29.0 percent, respectively • GAAP d ...