Tower Semiconductor Announces Record Results for Revenue and Profitability for the Second Quarter 2026 with Third Quarter 2026 Record Revenue Guidance

About this update from Tower Semiconductor Ltd.

$460 million second quarter revenue, 24% year-over-year growth; Guiding third quarter revenue of $520 million, 31% year-over-year growth MIGDAL HAEMEK, Israel, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ/TASE: TSEM) reports today its results for the second quarter ended June 30, 2026. Second Quarter of 2026 Results OverviewRevenue for the second quarter of 2026 was a record of $460 million, representing revenue growth of 24% year over year. Gross profit for the second quarter of 2026 was a record of $138 million, 72% higher than $80 million in the second quarter of 2025. Operating profit for the second quarter of 2026 was $90 million, record operating profit (excluding non-recurring items), and 2.3X of the $40 million operating profit for the second quarter of 2025. Net profit for the second quarter of 2026 was a record $91 million (excluding non-recurring items), representing 20% net margin and reflecting $0.80 basic and $0.79 diluted earnings per share. Compared to the second quarter of 2025, net profit is 95% higher than $47 million net profit that reflected $0.42 basic and $0.41 diluted earnings per share. Cash from operating activities in the second quarter of 2026 was $177 million and investments in property and equipment, net, were $187 million. In the second quarter of 2025, cash flow generated from operating activities was $123 million and investments in property and equipment, net, were $111 million. Business OutlookThe Company provides revenue guidance of $520 million for the third quarter of 2026, a Company record, with an upward or downward range of 5%. Mid-range revenue guidance represents an increase of 31% year-over-year and 13% quarter-over-quarter. Russell Ellwanger, Chief Executive Officer of Tower Semiconductor, said: "Amidst a powerful demand momentum across Tower's key business units, we achieved record revenue and record profitability, whilst simultaneously strengthening our technology leadership and greatly expanding manufacturing capacity throughout 2026. Moreover, we recently announced additional substantial capacity expansions, in direct support of our strong growing customer demand. SiPho presented triple digit year over year revenue increase to $680 million annual run rate in the second quarter of 2026 from $180 million annual run rate in the second quarter of 2025. We plan to cross the $1 billion of SiP...

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