ON Semiconductor Guides Q3 Well Above Estimates - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Monday, ON Semiconductor Corp. (ON) provided earnings and revenue guidance for the third quarter, well above analysts' expectations.

For the third quarter, the company projects earnings in a range of $0.53 to $ 0.63 per share and adjusted earnings in a range of $0.68 to $0.80 per share on revenues between $1.66 billion and $1.76 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.51 per share on revenues of $1.61 billion for the quarter. Analysts' estimates typically exclude special items.

"As we continue to drive operational efficiencies in our manufacturing sites, we expect to see incremental supply and revenue growth in the second half of 2021," said Hassane El-Khoury, president and CEO.