Tower Semiconductor Q3 Adj EPS $0.54 Beats $0.49 Estimate, Sales $358.17M Miss $359.11M Estimate
Portfolio Pulse from Benzinga Newsdesk
Tower Semiconductor (NASDAQ:TSEM) reported Q3 adjusted EPS of $0.54, surpassing the $0.49 estimate, but experienced a 12.9% decrease from the previous year's $0.62. Sales reached $358.17M, slightly missing the $359.11M estimate and marking a 16.14% decline from last year's $427.09M.
November 13, 2023 | 12:06 pm
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Tower Semiconductor reported higher-than-expected Q3 EPS at $0.54 but missed on sales with $358.17M, indicating mixed financial performance.
While beating EPS estimates is positive, the miss on sales and the year-over-year declines in both EPS and sales may concern investors. The mixed results could lead to neutral short-term price movement as the market digests both the positive and negative aspects of the report.
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IMPORTANCE 75
RELEVANCE 100