GLOBALFOUNDRIES (GFS) Q3 2022 Earnings Call Transcript

For the period ending September, 2022

November 8, 2022 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and thank you for standing by. Welcome to GlobalFoundries Conference Call to review its Third Quarter Fiscal Year 2022 Financial Results. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your host today, Sukhi Nagesh, Head of Investor Relations. Please go ahead.

Sukhi Nagesh

Thank you, operator and good morning, everyone and welcome to GlobalFoundries third quarter 2022 earnings call. On the call with me today are Dr. Thomas Caulfield, CEO; and Dave Reeder, CFO. A short while ago, we released GF's third quarter 2022 financial results 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 the accompanying slides. I would remind you that these financial results 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 do not undertake any 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 in the section under the caption Risk Factors in our annual report on Form 20-F filed with the SEC on March 31, 2022 and on our 6-K filed with the SEC on August 19, 2022.

We will begin today's call with Tom providing a summary update on the current business environment and technologies, following which Dave will provide details on our end market, third quarter results and also provide fourth quarter guidance. We will then open the call for questions. [Operator Instructions]

I'll now turn the call over to Tom for his prepared remarks.

Thomas Caulfield

Thank you, Sukhi and welcome, everyone, to our third quarter earnings call. I'm pleased to report very clear results that were better than our August provided guidance as we continue to make solid progress on our strategic and financial priorities. Amidst an increasingly challenging economic environment, our team across our entire enterprise continues to execute.