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Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reported revenue of $327 million for Q1 2024, a decline from $352 million in Q4 2023. Gross profit was $73 million, down from $84 million. Operating profit was $34 million, compared to $45 million. Net profit was $45 million, with basic EPS of $0.40. The company guides revenue for Q2 2024 at $350 million. Standard & Poor’s Maalot reaffirmed Tower Semiconductor’s corporate credit rating as “ilAA“/ stable. Cash flow from operating activities was $110 million.
Tower Semiconductor, a leading foundry of analog semiconductor solutions, will attend the 52nd Annual TD Cowen Technology, Media & Telecom Conference in New York. President Dr. Marco Racanelli will be present, offering investors a chance for one-on-one meetings with management.
Tower Semiconductor (TSEM) will participate in the 52nd Annual JP Morgan Global Technology, Media, and Communications Conference. CEO Russell Ellwanger will engage in a fireside chat on May 20th. Investors can access the webcast on Tower Semiconductor's website.