- Tower Semiconductor Ltd.(NASDAQ:TSEM) reported a first-quarter FY23 revenue decline of 15.6% year-on-year to $355.6 million, beating the consensus of $352.4 million.
- Gross profit was $95.7 million, down by 8.5% Y/Y.
- Operating profit grew 41.8% Y/Y to $89.4 million, aided by restructuring income from the previously disclosed reorganization and restructuring of its Japan operations during 2022.
- It generated $72.7 million in operating cash flow and held $945.97 million in cash and equivalents.
- EPS of $0.64 beat the consensus of $0.47.
- On February 15, Intel Corp (NASDAQ:INTC) agreed to acquire Tower Semiconductor at a 60% premium. Due to its impending acquisition, Tower Semiconductor stopped providing financial guidance.
- Price Action: TSEM shares traded higher by 2.20% at $41.30 premarket on the last check Monday.
Modine Manufacturing Sees FY25 EPS $3.55-$3.85 Vs $3.81 Est.; Net Sales Growth Between 5%-10%
Fiscal 2025 Outlook:Net sales growth between 5% to 10%Adjusted EBITDA growth of 16% to 22%, resulting in an Adjusted EBITDA range of $365 million to $385 millionAdjusted earnings per share of $3.55 to $3.85"Our fiscal
