GlobalFoundries (GFS) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 10, 2022 4:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and thank you for standing by. Welcome to the GlobalFoundries' Conference Call to review First Quarter Fiscal Year 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Sukhi Nagesh, Vice President of Corporate Development and Head of Investor Relations. Please go ahead.

Sukhi Nagesh

Thank you, operator, and good afternoon everyone. And welcome to the GlobalFoundries' first quarter 2022 earnings call. On the call with me today are Dr. Tom Caulfield, CEO; and Dave Reeder, CFO.

A short while ago, we released GF's first quarter 2022 financial results press release, which is available on our website at investors.gf.com along with today's accompanying slide presentation. This call is being recorded and a replay will be made available on our Investor Relations' web page.

During this call, we will present both IFRS and adjusted non-IFRS financial measures. The most directly comparable IFRS measures and reconciliations for adjusted non-IFRS measures are available in today's press release and accompanying slides. I will remind you that these financial measures are unaudited and subject to change.

Certain statements on today's call may be deemed to be forward-looking statements. Such statements can be identified by terms such as believe, expect, intend, anticipate, and may. You should not place undue reliance on forward-looking statements. Actual results may differ materially from these forward-looking statements and we undertake no obligation to update any forward-looking statements we make today.

For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the press release we issued today, as well as risks and uncertainties described in our SEC filings, including the sections under the caption Risk Factors in our annual report on Form 20-F filed with the SEC on March 31, 2022.

We will begin today's call with Tom providing a summary update on our end markets, capacity expansion, and technologies, following which Dave will provide details on our first quarter results and also provide second quarter guidance. We will then open the call for questions. We request that you limit your questions to one with one follow-up.