Core Insights - GlobalFoundries Inc. reported $1.83 billion in revenue for Q4 2024, reflecting a year-over-year decline of 1.3% and an EPS of $0.46 compared to $0.64 a year ago, with a slight EPS surprise of +2.22% [1] - The revenue matched the Zacks Consensus Estimate, indicating a surprise of -0.15% [1] Financial Performance Metrics - Wafer shipment volume was 595, exceeding the average estimate of 572 by four analysts [4] - Net revenue from wafer fabrication was $1.68 billion, slightly above the average estimate of $1.65 billion by five analysts [4] - Revenue from smart mobile devices was $738 million, below the average estimate of $779.43 million [4] - Non-wafer revenue and other generated $153 million, falling short of the average estimate of $186.54 million [4] - Revenue from home and industrial IoT was $355 million, closely aligning with the average estimate of $354.20 million [4] - Automotive revenue reached $414 million, surpassing the average estimate of $355.43 million [4] - Revenue from communications infrastructure and datacenter was $170 million, exceeding the average estimate of $158.58 million [4] Stock Performance - GlobalFoundries shares have returned -7.5% over the past month, contrasting with the Zacks S&P 500 composite's +4.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

GlobalFoundries Inc. (GFS) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.22%. A quarter ago, it was expected that this company would post earnings of $0.33 per share when it actually produced earnings of $0.41, delivering a surprise of 24.24%.Over the last four quarters, the compa ...

Fourth Quarter and Full-Year 2024 Financial Results (unaudited) February 11, 2025 1 Disclaimer This presentation and the accompanying oral presentation include "forward-looking statements," that reflect our current expectations and views of future events. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and include but are not limited to, statements regarding our financial outlook, future guidance, product development, ...

GlobalFoundries Reports Fourth Quarter 2024 and Fiscal Year 2024 Financial Results Malta, New York, February 11, 2025 - GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2024. Key Fourth Quarter Financial Highlights Key Full Year 2024 Financial Highlights "In the fourth quarter, the GF team delivered solid financial results that exceeded the Non-IFRS midpoint of the guidance ranges we provided in our November earni ...

MALTA, N.Y., Feb. 11, 2025 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2024. Key Fourth Quarter Financial Highlights Revenue of $1.830 billionGross margin of 24.5% and Non-IFRS gross margin(1) of 25.4%Operating margin of (38.3)% and Non-IFRS operating margin(1) of 15.6%Net loss of $729 million and Non-IFRS net income(1) of $256 millionDiluted loss per share of $1.32 and Non-IFRS diluted ea ...

Dr. Thomas Caulfield appointed Executive Chairman, Tim Breen named CEO and Niels Anderskouv named President and COOMALTA, N.Y., Feb. 05, 2025 (GLOBE NEWSWIRE) -- GlobalFoundries (Nasdaq: GFS) (GF) today announced, following a rigorous succession planning process, its Board of Directors has appointed Dr. Thomas Caulfield as Executive Chairman and Tim Breen as Chief Executive Officer. Caulfield succeeds Ahmed Yahia who will step down from the Board and his role as Chairman after more than a decade in the posi ...

MALTA, N.Y., Feb. 05, 2025 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) (GF) today announced, following a rigorous succession planning process, its Board of Directors has appointed Dr. Thomas Caulfield as Executive Chairman and Tim Breen as Chief Executive Officer. Caulfield succeeds Ahmed Yahia who will step down from the Board and his role as Chairman after more than a decade in the position. Breen, who has been with GF since 2018, and is currently Chief Operating Officer (COO), succeeds Caulfield. In ...

Company Announcement - GlobalFoundries (GF) plans to establish a new center for advanced packaging and testing of U.S.-made essential chips at its New York manufacturing facility [1] - The center aims to enable semiconductors to be securely manufactured, processed, packaged, and tested entirely onshore in the U.S., addressing demand for silicon photonics and other essential chips in AI, automotive, aerospace, defense, and communications [1] - GF's New York Advanced Packaging and Photonics Center will expand advanced packaging capabilities, providing an end-to-end U.S.-based solution for chips made at GF's New York facility [3] Industry Trends - Growth in AI is driving adoption of silicon photonics and 3D/heterogeneously integrated (HI) chips to meet power, bandwidth, and density requirements in datacenters and edge devices [2] - Silicon photonics chips are positioned to address power and performance needs in automotive, communications, radar, and critical infrastructure applications [2] Investment and Job Creation - GF's total investment in the New York Advanced Packaging and Photonics Center is expected to be $575 million, with an additional $186 million in R&D over the next 10+ years [4] - The project is expected to create approximately 100 new full-time GF jobs in New York over the next five years [4] - New York state will provide up to $20 million in new support, in addition to the previously announced $550 million from the New York State Green CHIPS program [5] - The U.S. Department of Commerce will provide up to $75 million in direct funding, supplementing the previously announced GF award under the CHIPS and Science Act [5] GF's New York Facility - GF employs approximately 2,500 people at its Malta, New York fab and has invested over $16 billion in the facility since its opening in 2011 [6] - The New York fab has Trusted Foundry accreditation and manufactures secure chips in partnership with the U.S. government [6] Advanced Packaging Capabilities - The center will offer advanced packaging, assembly, and testing for GF's silicon photonics platform, integrating optical and electrical components on a single chip for power efficiency and performance [8] - It will provide full turnkey advanced packaging, bump, assembly, and testing for aerospace and defense customers under GF's Trusted Foundry accreditation, ensuring chips for sensitive national security systems never leave the U.S. during production [8] - New production capabilities will include advanced packaging, wafer-to-wafer bonding, assembly, and testing of 3D and HI chips using GF's 12LP+, 22FDX®, and other leading platforms [8]

MALTA, N.Y., Jan. 08, 2025 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) today announced that it will host a conference call on Tuesday, February 11, 2025, at 8:30 a.m. ET following the release of the company's fourth quarter and full-year 2024 financial results. Conference Call and Webcast Information The company will host a conference call with the financial community on Tuesday, February 11, 2025, at 8:30 a.m. ET. Interested parties may join the scheduled conference call by registering here. The compa ...

ESSEX JUNCTION, Vt., Dec. 04, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries (Nasdaq: GFS) (GF) has received an additional $9.5 million in federal funding from the U.S. government to advance the manufacturing of GF’s essential gallium nitride (GaN) on silicon semiconductors at its facility in Essex Junction, Vermont. The funding moves GF closer to large-scale production of GaN chips. With the ability to handle high voltages and temperatures, GaN chip technology is essential for enabling higher performance and gre ...