Tower Semiconductor Reports Third Quarter Record Results, Providing Record Fourth Quarter Guidance Resulting in 2026 $2 Billion Annual Revenue

MIGDAL HAEMEK, Israel – November 2, 2026 – Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reports today its results for the third quarter ended September 30, 2026. Record revenue for the third quarter of 2026 of $526 million, representing revenue growth of 33% year over year, as compared to $396 million in the third quarter of 2025. Record gross profit for the third quarter of 2026 of $179 million, 92% higher than $93 million in the third quarter of 2025. Operating profit for the third quarter of 2026 was a record of $127 million (excluding non-recurring items), a multiple of 2.5X as compared to the $51 million operating profit for the third quarter of 2025. Net profit for the third quarter of 2026 was a record of $120 million (excluding non-recurring items), representing 23% net margin and reflecting $1.06 basic and $1.05 diluted earnings per share. This net profit is a multiple of 2.2X of the $54 million net profit in the third quarter of 2025. Cash from operating activities in the third quarter of 2026 was $185 million and investments in property and equipment, net, were $191 million. In the third quarter of 2025, cash flow generated from operating…