• Tower Semiconductor Q1 2026 results call covered record Q2 revenue outlook; attendees included CEO Russell Ellwanger, CFO Oren Shirazi, SVP Noit Levy, analysts from Susquehanna, Benchmark, Craig-Hallum, Zacks, TD Cowen.
• Q1 revenue USD 414 million, up 15% year-over-year; net profit USD 65 million, up 62%, with 16% net margin; Q2 revenue guided at USD 455 million ±5%, described as highest in company history.
• Management cited Silicon Photonics growth of 3x year-over-year; reiterated target for quarter-over-quarter revenue and margin growth through 2026; disclosed long-term customer commitments contractually representing USD 1.3 billion of 2027 wafer shipments, with USD 290 million of prepayments received.
• Japan strategy shifted toward full ownership of 300-mm Fab 7 in Uozu via TPSCo restructuring; management said current volumes are already profitable, with plans to scale to up to 4x current levels and to focus 2027 expansion on additional 300-mm capacity.
• CFO outlined a USD 920 million SiPho and SiGe capacity plan across 200-mm and 300-mm fabs, with about 40% already paid; tax rate modeled at 15%-18% on a run-rate basis, following a nonrecurring Q1 tax benefit tied to TPSCo.

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