Equity Profile

ON

ON Semiconductor Corporation

Information TechnologySemiconductors$35.2B

Aug3Mon

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

ON Semiconductor Corporation is a key player in the semiconductor industry, providing a range of products that power various technologies, including automotive, industrial, and consumer electronics. As demand for advanced technologies like AI and electric vehicles grows, ON's role in supplying essential components becomes increasingly important.

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

N/A

Revenue Growth

Revenue growth will reflect the company's ability to capitalize on market demand and expand its customer base.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

ON Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+2.95%

Avg Stock Reaction

-2.45%

Last Quarter Recap

In Q1 2026, ON Semiconductor reported an EPS of $0.64, beating expectations slightly. However, the stock experienced a minor decline the following day, indicating mixed investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about ON Semiconductor's upcoming earnings, given the company's recent performance and the broader demand for semiconductors.

Bull Case

If ON Semiconductor can deliver strong earnings and revenue growth, it may signal robust demand in key markets, leading to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could trigger a significant sell-off, especially given the stock's recent volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

EPS is a key indicator of profitability, and a strong figure could boost investor confidence.

How does ON Semiconductor plan to address supply chain challenges?

Supply chain issues have impacted many companies; effective management could enhance growth prospects.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate ON Semiconductor's ability to navigate supply chain challenges, leading to stronger-than-expected EPS growth.

Supporting Evidence

The company's recent EPS surprises indicate a trend of outperforming expectations.

Options pricing suggests a larger move than historical averages, indicating potential for volatility.

Recent demand for semiconductors in automotive and AI sectors could drive unexpected revenue growth.

Key Risk

If supply chain improvements lead to a significant increase in production capacity, it could challenge current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing ON's ability to maintain profitability against potential supply chain challenges.

Bull Confirmed If

An EPS of $0.70 or higher would confirm strong operational performance and investor confidence.

Bear Confirmed If

An EPS below $0.60 would signal potential issues in profitability and could lead to a sell-off.

Pre-Earnings Positioning

Options Market

Implied Move

±11.91%

Historical Avg

±5.9%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±11.9% while ON has averaged ±5.9% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

65.5%

Calls (295K)P/C Ratio: 0.29Puts (164K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ON Semiconductor beats expectations, history suggests a potential stock increase of around 0.7%, confirming strong demand.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may react neutrally, reflecting uncertainty.

Miss

A miss could lead to a decline of approximately 11.90%, as seen in past quarters when expectations were not met.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on supply chain management and its impact on production capacity.
2Details on revenue growth in key segments like automotive and industrial.
3Management's outlook on future demand trends in the semiconductor market.
4Insights into cost management strategies and their effect on profitability.
5Any commentary on competitive pressures and market positioning.

See the full picture

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

N/A

Revenue Growth

Revenue growth will reflect the company's ability to capitalize on market demand and expand its customer base.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

ON Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+2.95%

Avg Stock Reaction

-2.45%

Last Quarter Recap

In Q1 2026, ON Semiconductor reported an EPS of $0.64, beating expectations slightly. However, the stock experienced a minor decline the following day, indicating mixed investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about ON Semiconductor's upcoming earnings, given the company's recent performance and the broader demand for semiconductors.

Bull Case

If ON Semiconductor can deliver strong earnings and revenue growth, it may signal robust demand in key markets, leading to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could trigger a significant sell-off, especially given the stock's recent volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

EPS is a key indicator of profitability, and a strong figure could boost investor confidence.

How does ON Semiconductor plan to address supply chain challenges?

Supply chain issues have impacted many companies; effective management could enhance growth prospects.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate ON Semiconductor's ability to navigate supply chain challenges, leading to stronger-than-expected EPS growth.

Supporting Evidence

The company's recent EPS surprises indicate a trend of outperforming expectations.

Options pricing suggests a larger move than historical averages, indicating potential for volatility.

Recent demand for semiconductors in automotive and AI sectors could drive unexpected revenue growth.

Key Risk

If supply chain improvements lead to a significant increase in production capacity, it could challenge current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing ON's ability to maintain profitability against potential supply chain challenges.

Bull Confirmed If

An EPS of $0.70 or higher would confirm strong operational performance and investor confidence.

Bear Confirmed If

An EPS below $0.60 would signal potential issues in profitability and could lead to a sell-off.

Pre-Earnings Positioning

Options Market

Implied Move

±11.91%

Historical Avg

±5.9%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±11.9% while ON has averaged ±5.9% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

65.5%

Calls (295K)P/C Ratio: 0.29Puts (164K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ON Semiconductor beats expectations, history suggests a potential stock increase of around 0.7%, confirming strong demand.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may react neutrally, reflecting uncertainty.

Miss

A miss could lead to a decline of approximately 11.90%, as seen in past quarters when expectations were not met.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on supply chain management and its impact on production capacity.
2Details on revenue growth in key segments like automotive and industrial.
3Management's outlook on future demand trends in the semiconductor market.
4Insights into cost management strategies and their effect on profitability.
5Any commentary on competitive pressures and market positioning.