ON Semiconductor (onsemi) reported its fourth-quarter and full-year 2024 financial results, revealing a decline in performance compared to the previous year. The company posted Q4 revenue of $1.72 billion, down 15% year-over-year, and missed the estimated $1.76 billion. Adjusted earnings per share (EPS) for the quarter were $0.95, falling short of the $0.97 estimate and reflecting a 24% year-over-year decline. GAAP EPS for Q4 was $0.88. Gross margins for Q4 were reported at 45.2% (GAAP) and 45.3% (non-GAAP), with operating margins of 23.7% (GAAP) and 26.7% (non-GAAP). For Q1 2025, onsemi provided guidance of revenue between $1.35 billion and $1.45 billion, below the market's expectation of $1.69 billion. The company also anticipates non-GAAP gross margins of 39%-41%, utilization declining to the mid-50% range, and adjusted EPS between $0.45 and $0.55, significantly lower than the estimated $0.89. CEO Hassane El-Khoury emphasized the company's long-term strategy and financial discipline amid market challenges. Despite the downturn, onsemi returned 54% of its 2024 free cash flow, totaling $1.2 billion, to shareholders through share repurchases.