Tower Semiconductor Reports Strong 2024 Financial Results

Tower Semiconductor ( (TSEM) ) has released its Q4 earnings. Here is a breakdown of the information Tower Semiconductor presented to its investors.

Tower Semiconductor, a leading foundry of high-value analog semiconductor solutions, delivers technology and process platforms for diverse markets including consumer, industrial, and automotive sectors, with a focus on sustainable innovation and partnerships. The company reported its financial results for the fourth quarter and full year of 2024, showing steady growth in revenues and maintaining profitability despite some declines in certain profit margins compared to the previous year.

For the fourth quarter of 2024, Tower Semiconductor achieved revenues of $387 million, marking a 5% increase from the previous quarter and a 10% rise year-over-year. The company reported a net profit of $55 million for the quarter, with earnings per share remaining stable at $0.49. For the full year, revenues reached $1.44 billion, a slight increase from 2023, and net profit was $208 million. The 2023 figures had been significantly bolstered by a merger termination fee from Intel, which impacted comparison.

A noteworthy strategic move was the consolidation of its 150mm production into the 200mm Fab2 facility, aimed at enhancing efficiency. Cash flow from operations for 2024 was robust at $449 million, with significant investments directed towards property and equipment, indicating ongoing expansion efforts.

Looking ahead, Tower Semiconductor forecasts a revenue growth of around 10% year-over-year for the first quarter of 2025, with continuous quarterly growth anticipated. The management remains optimistic about leveraging its strategic investments and customer partnerships to fuel further growth in the coming year.