Tower Semiconductor Forecasts $600 Million in Fourth-Quarter Revenue

Tower Semiconductor, an analog chip foundry, set fourth-quarter revenue guidance at $600 million, plus or minus 5%, after third-quarter sales increased 33% year over year to $526 million.

Third-quarter diluted GAAP earnings were $1.05 per share. Revenue rose from $396 million in the same quarter a year earlier.

The fourth-quarter guidance midpoint is 36% above revenue in the year-ago quarter and 14% higher than the third-quarter total. CEO Russell Ellwanger's outlook calls for $2 billion in revenue for 2026 and a $2.4 billion annualized revenue run rate at year-end.

Tower generated $185 million in cash from operating activities during the third quarter and invested $191 million in property and equipment, net. The company is scheduled to discuss its results and outlook on a conference call at 10 a.m. ET (15:00 UTC) Monday, Nov. 2.