Onsemi — Oct 28, 2024 release

FOURTH QUARTER 2024 OUTLOOK The following table outlines onsemi’s projected fourth quarter of 2024 GAAP and non-GAAP outlook.        Total onsemi GAAP   Special Items **    Total onsemi Non-GAAP*** Revenue    $1,710 to $1,810 million   —     $1,710 to $1,810 million Gross Margin    43.9% to 45.9%   0.1%    44.0% to 46.0% Operating Expenses    $313 to $328 million   $13 million    $300 to $315 million Other Income and Expense (including interest), net    ($12 million)   —     ($12 million) Diluted Earnings Per Share    $0.88 to $1.00   $0.04    $0.92 to $1.04 Diluted Shares Outstanding *    431 million   4 million    427 million   * Diluted shares outstanding can vary as a result of, among other things, the vesting of restricted stock units, the incremental dilutive shares from the convertible notes, and the repurchase or the issuance of stock or convertible notes or the sale of treasury shares. In periods when the quarterly average stock price per share exceeds $52.97 for the 0% Notes, and $103.87 for the 0.50% Notes, the non-GAAP diluted share count and non-GAAP net income per share include the anti-dilutive impact of the hedge transactions entered concurrently with the 0% Notes, and the 0.50% Notes, respectively. At an average stock price per share between $52.97 and $74.34 for the 0% Notes, and $103.87 and $156.78 for the 0.50% Notes, the hedging activity offsets the potentially dilutive effect of the 0% Notes, and the 0.50% Notes, respectively. In periods when the quarterly average stock price exceeds $74.34 for the 0% Notes, and $156.78 for the 0.50% Notes, the dilutive impact of the warra