ON Semiconductor Corporation (ON) Citi's 2024 Global TMT Conference (Transcript)

ON Semiconductor Corporation (NASDAQ:ON) Citi's 2024 Global TMT Conference Call September 4, 2024 3:00 PM ET

Company Participants

Hassane El-Khoury - Chief Executive Officer
Thad Trent - Chief Financial Officer

Conference Call Participants

Chris Danely - Citi

Chris Danely

Thanks for coming, everyone. Thanks for being here on this afternoon of the Annual Citi TMT Conference. I'm Chris Danely, your friendly neighborhood semiconductor analyst. It's our pleasure next to have ON Semi, the dream team. We have Hassane El-Khoury, the CEO and resident gearhead at ON Semi, and then Thad Trent, CFO and resident Math wizard at ON Semi. So, it really is my pleasure to have both of you guys up here. Thanks again for coming. You've supported the conference every year.

Question-and-Answer Session

Q - Chris Danely

So, we had a couple of your competitors this morning talking about what's going on, both reiterated guidance. But I'd ask you guys, it seems like we've had, I think, five or six of your peers here today in the analog space and asked them about the various end markets. So, let's start with auto. I would say it's, I guess, slightly mixed. Some companies are saying that auto is a little better. Some companies are saying, we don't know. Talking about the quarter will depend on September. Visibility is a little bit murky. Any of your expertise on what are -- I guess, start with the underlying demand trends in the automotive market, and then we'll move on from there, because it seems like that's like the most controversial area of semis right now.

Hassane El-Khoury

Yeah. Look, I think we'll -- I'll start at high level what we talked about last earnings call. We saw stabilization overall. I don't think you can call recovery yet or anything beyond what I talked about L-shape, which means first