ON Semiconductor expects lower revenue and earnings in the fourth quarter than it netted a year ago.
The maker of intelligent sensing and power services on Monday guided for earnings of $1.10 to $1.24 a share for the fourth quarter, below the year-ago quarter’s $1.35 a share and analyst projections for $1.29 a share this year, according to FactSet.
Adjusted earnings, which strip out one-time items, are expected to be $1.13 to $1.27 a share. Analysts surveyed by FactSet had been expecting $1.36 a share.
Quarterly revenue is projected to come in at $1.95 billion to $2.05 billion for the quarter, a drop from $2.1 billion last year and below the $2.18 billion consensus estimate of analysts polled by FactSet.