The earnings call depicted a strong financial performance with record revenues driven by high-speed data center offerings and substantial growth in the RF infrastructure and silicon photonics markets. Despite some challenges in the imaging business and fab utilization, the company's strategic investments and strong financial position indicate a positive outlook.

Company Guidance

During the third quarter of 2024, Tower Semiconductor delivered a robust financial performance, reaching a revenue of $371 million, which marked a 6% increase quarter-over-quarter and a 3.5% rise year-over-year. The company's net profit stood at approximately $55 million, resulting in a net margin of about 15%. Notably, their high-speed data center offerings achieved record revenue levels, driven by heightened demand fulfilling AI requirements. For the fourth quarter, Tower Semiconductor provided a mid-range revenue guidance of $387 million, with a range of plus/minus 5%, indicating a projected year-over-year growth of about 10% and 18% growth within the year. The RF infrastructure business, a significant contributor to their corporate revenues, showed impressive growth, nearly doubling in revenue compared to the same quarter in the previous year. Additionally, the company's silicon photonics segment is expected to generate approximately $100 million in revenue for 2024, with projections of over $150 million annualized run rate as of Q4 2024.

Record Revenue in Data Center Offerings

High-speed data center offerings reached record revenue, driven by unique offerings fulfilling AI requirements.

Quarterly Revenue Growth

Revenue reached $371 million, marking a 6% quarter-over-quarter and 3.5% year-over-year growth.

RF Infrastructure Growth

RF infrastructure business represented 18% of corporate revenues in Q3 and nearly doubled year-over-year.

Silicon Photonics Market Expansion

Silicon photonics expected to generate approximately $100 million in revenue for 2024, with a forecasted Q4 run rate of over $150 million.

Strong Financial Position

As of September 2024, assets totaled $3.1 billion, and shareholders' equity reached $2.6 billion.

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Tower (IL:TSEM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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IL:TSEM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 26, 2018	2018 (Q2)	- / 1.49	1.923	-22.64% (-0.44)	―	―
Oct 29, 2018	2018 (Q3)	- / 1.34	2.141	-37.29% (-0.80)	―	―
Feb 19, 2019	2018 (Q4)	- / 1.49	2.104	-29.31% (-0.62)	―	―
May 15, 2019	2019 (Q1)	- / 1.05	1.125	-6.45% (-0.07)	―	―
Jul 29, 2019	2019 (Q2)	- / 0.87	1.487	-41.46% (-0.62)	―	―
Nov 13, 2019	2019 (Q3)	- / 0.91	1.342	-32.43% (-0.44)	―	―
Feb 18, 2020	2019 (Q4)	- / 0.80	1.487	-46.34% (-0.69)	―	―
May 13, 2020	2020 (Q1)	- / 0.73	1.052	-31.03% (-0.33)	―	―
Jul 29, 2020	2020 (Q2)	- / 0.80	0.871	-8.33% (-0.07)	―	―
Nov 12, 2020	2020 (Q3)	- / 0.65	0.907	-28.00% (-0.25)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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IL:TSEM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 13, 2024	₪171.30	₪182.80	+6.71%
Jul 24, 2024	₪149.30	₪146.10	-2.14%
May 09, 2024	₪128.70	₪134.70	+4.66%
Feb 14, 2024	₪106.00	₪113.10	+6.70%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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