TSEM - Tower Semiconductor Ltd. (TSEM) Q1 2024 Earnings Call Transcript

2024-05-09 13:33:07 ET

Tower Semiconductor Ltd. (TSEM)

Q1 2024 Earnings Conference Call

May 9, 2024, 10:00 AM ET

Company Participants

Noit Levy - Senior Vice President, Investor Relations and Corporate Communications

Russell Ellwanger - Chief Executive Officer

Oren Shirazi - Chief Financial Officer

Conference Call Participants

Cody Acree - Benchmark

Richard Shannon - Craig-Hallum

Mehdi Hosseini - SIG

Lisa Thompson - Zacks Investment Research

David Duley - Steelhead Securities

Presentation

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Tower Semiconductor First Quarter 2024 Financial Results Conference call. All participants are currently in a listen-only mode. Following management’s prepared statements, instructions will be given for the question-and-answer session. [Operator Instructions]

As a reminder, this conference is being recorded May 9, 2024. Joining us today are Mr. Russell Ellwanger, Tower CEO; Mr. Oren Shirazi, CFO.

I would like to turn the conference call over to Ms. Noit Levy, Senior Vice President of Investor Relations and Corporate Communications. Ms. Levy, please go ahead.

Noit Levy

Thank you. And welcome to Tower financial results conference call for the first quarter of 2024. Before we begin, I would like to remind you that some statements made during this call maybe forward-looking and are subject to uncertainties and risk factors that could cause actual results to be different from those currently expected.

These uncertainties and risk factors are fully disclosed in our Forms 20-F and 6-K, filed with the Securities and Exchange Commission, as well as filings with the Israeli Securities Authority. They are also available on our website. Tower assumes no obligation to update any such forward-looking statements.

Please note that the first quarter of 2024 financial results have been prepared in accordance with U.S. GAAP. The financial tables and data in today’s earnings release and in this earnings call also include certain adjusted financial information that may be considered non-GAAP financial measures under Regulation G and related reporting requirements as established with the Securities and Exchange Commission. The financial tables include a full explanation of these measures and the reconciliation of these non-GAAP measures to the GAAP financial measures....

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