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

MIGDAL HAEMEK, Israel – August 4, 2026 – Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reports today its results for the second quarter ended June 30, 2026. Revenue 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…