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Amkor Technology Reports Financial Results for the Third Quarter 2024

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Amkor Technology (AMKR) reported Q3 2024 financial results with net sales of $1.86 billion, up 27% sequentially. The company achieved a gross profit of $272 million, operating income of $149 million, and net income of $123 million, resulting in earnings per diluted share of $0.49. The growth was primarily driven by strong demand for Advanced SiP technology in Communications and Consumer markets. The company maintains a strong financial position with $1.5 billion in cash and short-term investments, and $1.1 billion in total debt. For Q4 2024, Amkor projects net sales between $1.60-1.70 billion with gross margin of 13.5-15.5%.

Amkor Technology (AMKR) ha riportato i risultati finanziari del terzo trimestre del 2024 con vendite nette di 1,86 miliardi di dollari, in aumento del 27% rispetto al trimestre precedente. L'azienda ha ottenuto un utile lordo di 272 milioni di dollari, un reddito operativo di 149 milioni di dollari e un utile netto di 123 milioni di dollari, con un utile per azione diluita pari a 0,49 dollari. La crescita è stata principalmente guidata da una forte domanda per la tecnologia Advanced SiP nei mercati delle comunicazioni e dei consumatori. L'azienda mantiene una solida posizione finanziaria con 1,5 miliardi di dollari in contante e investimenti a breve termine, e 1,1 miliardi di dollari di debito totale. Per il quarto trimestre del 2024, Amkor prevede vendite nette comprese tra 1,60 e 1,70 miliardi di dollari con un margine lordo del 13,5-15,5%.

Amkor Technology (AMKR) reportó los resultados financieros del tercer trimestre de 2024 con ventas netas de 1.86 mil millones de dólares, un aumento del 27% en comparación con el trimestre anterior. La compañía logró un beneficio bruto de 272 millones de dólares, un ingreso operativo de 149 millones de dólares y un ingreso neto de 123 millones de dólares, lo que resulta en ganancias por acción diluida de 0.49 dólares. El crecimiento fue impulsado principalmente por una fuerte demanda de la tecnología Advanced SiP en los mercados de comunicaciones y de consumidores. La empresa mantiene una sólida posición financiera con 1.5 mil millones de dólares en efectivo e inversiones a corto plazo, y 1.1 mil millones de dólares en deuda total. Para el cuarto trimestre de 2024, Amkor proyecta ventas netas entre 1.60 y 1.70 mil millones de dólares con un margen bruto del 13.5-15.5%.

앰코르 테크놀로지 (AMKR)는 2024년 3분기 재무 결과를 발표했으며, 순매출은 18억 6천만 달러로 이전 분기 대비 27% 증가했습니다. 회사는 2억 7천2백만 달러의 총 이익, 1억 4천9백만 달러의 운영 소득, 1억 2천3백만 달러의 순이익을 기록하여 희석 주당 수익이 0.49달러에 도달했습니다. 성장은 주로 통신 및 소비자 시장에서 Advanced SiP 기술에 대한 강력한 수요에 의해 촉진되었습니다. 회사는 15억 달러의 현금 및 단기 투자, 11억 달러의 총 부채로 강력한 재무 상태를 유지하고 있습니다. 2024년 4분기에는 매출이 16억에서 17억 달러 사이에 이르고, 총 이익률은 13.5-15.5%로 예상하고 있습니다.

Amkor Technology (AMKR) a annoncé les résultats financiers du troisième trimestre 2024 avec des ventes nettes de 1,86 milliard de dollars, soit une augmentation de 27 % par rapport au trimestre précédent. L’entreprise a réalisé un bénéfice brut de 272 millions de dollars, un résultat opérationnel de 149 millions de dollars et un revenu net de 123 millions de dollars, soit un bénéfice par action diluée de 0,49 dollar. La croissance a été principalement soutenue par une forte demande pour la technologie Advanced SiP sur les marchés des communications et des consommateurs. L'entreprise maintient une solide position financière avec 1,5 milliard de dollars en liquidités et investissements à court terme, et 1,1 milliard de dollars de dette totale. Pour le quatrième trimestre de 2024, Amkor prévoit un chiffre d'affaires net entre 1,60 et 1,70 milliard de dollars avec une marge brute de 13,5 à 15,5%.

Amkor Technology (AMKR) hat die Finanzzahlen für das 3. Quartal 2024 veröffentlicht, mit einem Nettoumsatz von 1,86 Milliarden Dollar, was einem Anstieg von 27% im Vergleich zum vorherigen Quartal entspricht. Das Unternehmen erzielte einen Bruttogewinn von 272 Millionen Dollar, ein Betriebsergebnis von 149 Millionen Dollar und ein Nettogewinn von 123 Millionen Dollar, was zu einem verwässerten Gewinn pro Aktie von 0,49 Dollar führte. Das Wachstum wurde hauptsächlich durch eine starke Nachfrage nach Advanced SiP-Technologie in Kommunikations- und Verbrauchermärkten angetrieben. Das Unternehmen verfügt über eine starke Finanzlage mit 1,5 Milliarden Dollar in Bar und kurzfristigen Investitionen sowie 1,1 Milliarden Dollar an Gesamtschulden. Für das 4. Quartal 2024 prognostiziert Amkor einen Nettoumsatz zwischen 1,60 und 1,70 Milliarden Dollar mit einer Bruttomarge von 13,5-15,5%.

Positive
  • 27% sequential revenue growth to $1.86 billion
  • Operating income increased to $149 million from $82 million in Q2
  • Strong cash position of $1.5 billion
  • Earnings per share improved to $0.49 from $0.27 in Q2
Negative
  • Gross margin declined year-over-year from 15.5% to 14.6%
  • Operating income margin decreased from 9.1% to 8.0% year-over-year
  • Q4 guidance suggests sequential revenue decline
  • EPS decreased year-over-year from $0.54 to $0.49

Insights

Amkor's Q3 results demonstrate mixed performance with $1.86 billion in revenue, showing strong 27% sequential growth but slight year-over-year softness. The 14.6% gross margin remains under pressure compared to last year's 15.5%. Key concerns include:

  • Operating margin declined to 8.0% from 9.1% YoY
  • EPS dropped to $0.49 from $0.54 YoY
  • Q4 guidance suggests sequential revenue decline to $1.60-1.70 billion

The substantial $750 million CAPEX commitment for 2024 and strong cash position of $1.5 billion against $1.1 billion debt indicate strategic investments in capacity expansion. The Advanced SiP technology focus in Communications and Consumer markets positions them well for future growth, despite near-term margin pressures.

TEMPE, Ariz.--(BUSINESS WIRE)-- Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the third quarter ended September 30, 2024.

Third Quarter 2024 Highlights

  • Net sales $1.86 billion, up 27% sequentially
  • Gross profit $272 million, operating income $149 million
  • Net income $123 million, earnings per diluted share $0.49
  • EBITDA $309 million

“Amkor delivered third quarter revenue of $1.86 billion, up 27% sequentially, driven by strong demand for our Advanced SiP technology to support the Communications and Consumer end markets,” said Giel Rutten, Amkor’s president and chief executive officer. “During the quarter we focused on executing steep production ramps for several high-volume products and further strengthened key partnerships with leaders in the industry to ensure resilient regional supply chains.”

Quarterly Financial Results

($ in millions, except per share data)

 

Q3 2024

 

Q2 2024

 

Q3 2023

Net sales

 

$1,862

 

$1,461

 

$1,822

Gross margin

 

14.6%

 

14.5%

 

15.5%

Operating income

 

$149

 

$82

 

$167

Operating income margin

 

8.0%

 

5.6%

 

9.1%

Net income attributable to Amkor

 

$123

 

$67

 

$133

Earnings per diluted share

 

$0.49

 

$0.27

 

$0.54

EBITDA (1)

 

$309

 

$247

 

$333

 

(1) EBITDA is a non-GAAP measure. The reconciliation to the comparable GAAP measure is included below under “Selected Operating Data.”

At September 30, 2024, total cash and short-term investments was $1.5 billion, and total debt was $1.1 billion.

The company paid a quarterly dividend of $0.07875 per share on September 23, 2024. The declaration and payment of future dividends, as well as any record and payment dates, are subject to the approval of the Board of Directors.

Business Outlook

The following information presents Amkor’s guidance for the fourth quarter 2024 (unless otherwise noted):

  • Net sales of $1.60 billion to $1.70 billion
  • Gross margin of 13.5% to 15.5%
  • Net income of $70 million to $110 million, or $0.28 to $0.44 per diluted share
  • Full year 2024 capital expenditures of approximately $750 million

Conference Call Information

Amkor will conduct a conference call on Monday, October 28, 2024, at 5:00 p.m. Eastern Time. This call may include material information not included in this press release. To access the live audio webcast and the accompanying slide presentation, visit the Investor Relations section of Amkor’s website, located at ir.amkor.com. The live call can also be accessed by dialing 1-877-407-4019 or 1-201-689-8337.

About Amkor Technology, Inc.

Amkor Technology, Inc. is the world's largest US headquartered OSAT (outsourced semiconductor assembly and test) service provider. Since its founding in 1968, Amkor has pioneered the outsourcing of IC packaging and test services and is a strategic manufacturing partner for the world's leading semiconductor companies, foundries, and electronics OEMs. Amkor provides turnkey manufacturing services for the communication, automotive and industrial, computing, and consumer industries, including but not limited to smartphones, electric vehicles, data centers, artificial intelligence and wearables. Amkor's operational base includes production facilities, research and development centers, and sales and support offices located in key electronics manufacturing regions in Asia, Europe and the United States. For more information visit amkor.com.

AMKOR TECHNOLOGY, INC.

Selected Operating Data

 

 

Q3 2024

 

Q2 2024

 

Q3 2023

Net Sales Data:

 

 

 

 

 

Net sales (in millions):

 

 

 

 

 

Advanced products (1)

$

1,568

 

 

$

1,180

 

 

$

1,452

 

Mainstream products (2)

 

294

 

 

 

281

 

 

 

370

 

Total net sales

$

1,862

 

 

$

1,461

 

 

$

1,822

 

 

 

 

 

 

 

Packaging services

 

90

%

 

 

88

%

 

 

88

%

Test services

 

10

%

 

 

12

%

 

 

12

%

 

 

 

 

 

 

Net sales from top ten customers

 

74

%

 

 

72

%

 

 

72

%

 

 

 

 

 

 

End Market Distribution Data:

 

 

 

 

 

Communications (smartphones, tablets)

 

52

%

 

 

48

%

 

 

55

%

Automotive, industrial and other (ADAS, electrification, infotainment, safety)

 

16

%

 

 

20

%

 

 

19

%

Computing (data center, infrastructure, PC/laptop, storage)

 

16

%

 

 

20

%

 

 

14

%

Consumer (AR & gaming, connected home, home electronics, wearables)

 

16

%

 

 

12

%

 

 

12

%

Total

 

100

%

 

 

100

%

 

 

100

%

 

 

 

 

 

 

Gross Margin Data:

 

 

 

 

 

Net sales

 

100.0

%

 

 

100.0

%

 

 

100.0

%

Cost of sales:

 

 

 

 

 

Materials

 

58.4

%

 

 

54.0

%

 

 

56.8

%

Labor

 

8.7

%

 

 

10.4

%

 

 

8.8

%

Other manufacturing

 

18.3

%

 

 

21.1

%

 

 

18.9

%

Gross margin

 

14.6

%

 

 

14.5

%

 

 

15.5

%

 

(1) Advanced products include flip chip, memory and wafer-level processing and related test services.

(2) Mainstream products include all other wirebond packaging and related test services.

AMKOR TECHNOLOGY, INC.

Selected Operating Data

 

In this press release, we refer to EBITDA, which is not defined by U.S. GAAP. We define EBITDA as net income before interest expense, income tax expense and depreciation and amortization. We believe EBITDA to be relevant and useful information to our investors because it provides additional information in assessing our financial operating results. Our management uses EBITDA in evaluating our operating performance, and our ability to service debt, fund capital expenditures and pay dividends. However, EBITDA has certain limitations in that it does not reflect the impact of certain expenses on our consolidated statements of income, including interest expense, which is a necessary element of our costs because we have borrowed money in order to finance our operations, income tax expense, which is a necessary element of our costs because taxes are imposed by law, and depreciation and amortization, which is a necessary element of our costs because we use capital assets to generate income. EBITDA should be considered in addition to, and not as a substitute for, or superior to, operating income, net income or other measures of financial performance prepared in accordance with U.S. GAAP. Furthermore, our definition of EBITDA may not be comparable to similarly titled measures reported by other companies. Below is our reconciliation of EBITDA to U.S. GAAP net income.

 

Non-GAAP Financial Measure Reconciliation:

 

 

 

 

 

(in millions)

Q3 2024

 

Q2 2024

 

Q3 2023

EBITDA Data:

 

 

 

 

 

Net income

$

123

 

$

67

 

$

133

Plus: Interest expense

 

16

 

 

 

16

 

 

 

13

 

Plus: Income tax expense

 

19

 

 

 

14

 

 

 

29

 

Plus: Depreciation & amortization

 

151

 

 

 

150

 

 

 

158

 

EBITDA

$

309

 

 

$

247

 

 

$

333

 

AMKOR TECHNOLOGY, INC.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

(Unaudited)

 

For the Three Months

Ended September 30,

 

For the Nine Months

Ended September 30,

 

2024*

 

2023

 

2024*

 

2023

Net sales

$

1,861,589

 

 

$

1,821,793

 

 

$

4,688,574

 

 

$

4,751,254

 

Cost of sales

 

1,589,105

 

 

 

1,539,040

 

 

 

4,002,072

 

 

 

4,087,210

 

Gross profit

 

272,484

 

 

 

282,753

 

 

 

686,502

 

 

 

664,044

 

Selling, general and administrative

 

80,753

 

 

 

73,020

 

 

 

262,379

 

 

 

216,551

 

Research and development

 

42,364

 

 

 

43,135

 

 

 

120,103

 

 

 

135,870

 

Total operating expenses

 

123,117

 

 

 

116,155

 

 

 

382,482

 

 

 

352,421

 

Operating income

 

149,367

 

 

 

166,598

 

 

 

304,020

 

 

 

311,623

 

Interest expense

 

15,622

 

 

 

13,001

 

 

 

47,866

 

 

 

43,522

 

Other (income) expense, net

 

(8,130

)

 

 

(8,777

)

 

 

(39,273

)

 

 

(24,212

)

Total other expense, net

 

7,492

 

 

 

4,224

 

 

 

8,593

 

 

 

19,310

 

Income before taxes

 

141,875

 

 

 

162,374

 

 

 

295,427

 

 

 

292,313

 

Income tax expense

 

19,185

 

 

 

28,923

 

 

 

45,693

 

 

 

49,194

 

Net income

 

122,690

 

 

 

133,451

 

 

 

249,734

 

 

 

243,119

 

Net income attributable to non-controlling interests

 

(121

)

 

 

(837

)

 

 

(1,371

)

 

 

(868

)

Net income attributable to Amkor

$

122,569

 

 

$

132,614

 

 

$

248,363

 

 

$

242,251

 

 

 

 

 

 

 

 

 

Net income attributable to Amkor per common share:

 

 

 

 

 

 

 

Basic

$

0.50

 

 

$

0.54

 

 

$

1.01

 

 

$

0.99

 

Diluted

$

0.49

 

 

$

0.54

 

 

$

1.00

 

 

$

0.98

 

 

 

 

 

 

 

 

 

Shares used in computing per common share amounts:

 

 

 

 

 

 

 

Basic

 

246,480

 

 

 

245,740

 

 

 

246,239

 

 

 

245,571

 

Diluted

 

247,922

 

 

 

247,129

 

 

 

247,798

 

 

 

247,080

 

 

*We periodically assess the estimated useful lives of our property, plant and equipment. Based on our assessment of test equipment and its increased interchangeability enabling broader and longer use, we extended the estimated useful lives of test equipment from five years to seven years as of January 1, 2024. As a result, depreciation expense was reduced by approximately $15 million and $45 million for the three and nine months ended September 30, 2024, respectively. This benefited net income by approximately $12 million and $37 million and diluted earnings per share by $0.04 and $0.15 for each period, respectively.

AMKOR TECHNOLOGY, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

 

September 30, 2024

 

December 31, 2023

ASSETS

Current assets:

 

 

 

Cash and cash equivalents

$

959,140

 

 

$

1,119,818

 

Short-term investments

 

512,333

 

 

 

474,869

 

Accounts receivable, net of allowances

 

1,351,817

 

 

 

1,149,493

 

Inventories

 

349,513

 

 

 

393,128

 

Other current assets

 

71,515

 

 

 

58,502

 

Total current assets

 

3,244,318

 

 

 

3,195,810

 

Property, plant and equipment, net

 

3,538,841

 

 

 

3,299,445

 

Operating lease right of use assets

 

114,104

 

 

 

117,006

 

Goodwill

 

19,643

 

 

 

20,003

 

Restricted cash

 

786

 

 

 

799

 

Other assets

 

111,394

 

 

 

138,062

 

Total assets

$

7,029,086

 

 

$

6,771,125

 

LIABILITIES AND EQUITY

Current liabilities:

 

 

 

Short-term borrowings and current portion of long-term debt

$

207,570

 

 

$

131,624

 

Trade accounts payable

 

811,946

 

 

 

754,453

 

Capital expenditures payable

 

210,398

 

 

 

106,368

 

Short-term operating lease liability

 

27,657

 

 

 

33,616

 

Accrued expenses

 

315,260

 

 

 

358,414

 

Total current liabilities

 

1,572,831

 

 

 

1,384,475

 

Long-term debt

 

893,994

 

 

 

1,071,832

 

Pension and severance obligations

 

87,584

 

 

 

87,133

 

Long-term operating lease liabilities

 

62,279

 

 

 

56,837

 

Other non-current liabilities

 

215,144

 

 

 

175,813

 

Total liabilities

 

2,831,832

 

 

 

2,776,090

 

 

 

 

 

Stockholders’ equity:

 

 

 

Preferred stock

 

 

 

 

 

Common stock

 

293

 

 

 

292

 

Additional paid-in capital

 

2,028,024

 

 

 

2,008,170

 

Retained earnings

 

2,349,938

 

 

 

2,159,831

 

Accumulated other comprehensive income (loss)

 

10,248

 

 

 

16,350

 

Treasury stock

 

(224,882

)

 

 

(222,335

)

Total Amkor stockholders’ equity

 

4,163,621

 

 

 

3,962,308

 

Non-controlling interests in subsidiaries

 

33,633

 

 

 

32,727

 

Total equity

 

4,197,254

 

 

 

3,995,035

 

Total liabilities and equity

$

7,029,086

 

 

$

6,771,125

 

AMKOR TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

For the Nine Months Ended

September 30,

 

2024

 

2023

Cash flows from operating activities:

 

 

 

Net income

$

249,734

 

 

$

243,119

 

Depreciation and amortization

 

445,470

 

 

 

472,396

 

Other operating activities and non-cash items

 

22,558

 

 

 

30,717

 

Changes in assets and liabilities

 

(166,502

)

 

 

(50,045

)

Net cash provided by operating activities

 

551,260

 

 

 

696,187

 

Cash flows from investing activities:

 

 

 

Payments for property, plant and equipment

 

(458,067

)

 

 

(511,654

)

Proceeds from sale of property, plant and equipment

 

5,097

 

 

 

1,580

 

Proceeds from foreign exchange forward contracts

 

32,185

 

 

 

31,038

 

Payments for foreign exchange forward contracts

 

(58,430

)

 

 

(70,251

)

Payments for short-term investments

 

(441,851

)

 

 

(491,056

)

Proceeds from sale of short-term investments

 

44,361

 

 

 

71,159

 

Proceeds from maturities of short-term investments

 

367,522

 

 

 

267,393

 

Other investing activities

 

7,431

 

 

 

4,894

 

Net cash used in investing activities

 

(501,752

)

 

 

(696,897

)

Cash flows from financing activities:

 

 

 

Proceeds from revolving credit facilities

 

 

 

 

370,000

 

Payments of revolving credit facilities

 

 

 

 

(370,000

)

Proceeds from short-term debt

 

5,012

 

 

 

20,712

 

Payments of short-term debt

 

(9,731

)

 

 

(14,632

)

Proceeds from long-term debt

 

58,727

 

 

 

 

Payments of long-term debt

 

(147,603

)

 

 

(104,952

)

Payments of finance lease obligations

 

(56,359

)

 

 

(48,409

)

Payments of dividends

 

(58,196

)

 

 

(55,328

)

Other financing activities

 

819

 

 

 

(1,801

)

Net cash used in financing activities

 

(207,331

)

 

 

(204,410

)

Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash

 

(2,868

)

 

 

(17,603

)

Net decrease in cash, cash equivalents and restricted cash

 

(160,691

)

 

 

(222,723

)

Cash, cash equivalents and restricted cash, beginning of period

 

1,120,617

 

 

 

962,406

 

Cash, cash equivalents and restricted cash, end of period

$

959,926

 

 

$

739,683

 

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements within the meaning of the federal securities laws. You are cautioned not to place undue reliance on forward-looking statements, which are often characterized by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue” or “intend,” by the negative of these terms or other comparable terminology or by discussions of strategy, plans or intentions. All forward-looking statements in this press release are made based on our current expectations, forecasts, estimates and assumptions. Because such statements include risks and uncertainties, actual results may differ materially from those anticipated in such forward-looking statements as a result of various factors, including, but not limited to, the following:

  • dependence on the cyclical and volatile semiconductor industry and vulnerability to industry downturns and declines in global economic and financial conditions;
  • dependence on key customers or concentration of customers in certain end markets, such as mobile communications and automotive;
  • changes in costs, quality, availability and delivery times of raw materials, components and equipment;
  • health conditions or pandemics, such as COVID-19, impacting labor availability and operating capacity, capital availability, the supply chain and consumer demand for our customers’ products and services;
  • fluctuations in operating results and cash flows;
  • our substantial indebtedness;
  • dependence on international factories and operations and risks relating to trade restrictions and regional conflict;
  • the effects of business, economic, political, legal and regulatory impacts or conflicts upon our global operations;
  • fluctuations in interest rates and changes in credit risk;
  • competition with established competitors in the packaging and test business, the internal capabilities of integrated device manufacturers and new competitors, including foundries and contract manufacturers;
  • difficulty funding our liquidity needs, including as a result of disruptions to the banking system and capital markets;
  • our substantial investments in equipment and facilities to support the demand of our customers;
  • difficulty attracting, retaining or replacing qualified personnel;
  • difficulty achieving the relatively high-capacity utilization rates necessary to realize satisfactory gross margins given our high percentage of fixed costs;
  • maintaining an effective system of internal controls;
  • the absence of backlog and the short-term nature of our customers’ commitments;
  • our continuing development and implementation of changes to, and maintenance and security of, our information technology systems;
  • the historical downward pressure on the prices of our packaging and test services;
  • challenges with integrating diverse operations;
  • fluctuations in our manufacturing yields;
  • any changes in tax laws, taxing authorities not agreeing with our interpretation of applicable tax laws, including whether we continue to qualify for conditional reduced tax rates, or any requirements to establish or adjust valuation allowances on deferred tax assets;
  • our ability to develop new proprietary technology, protect our proprietary technology, operate without infringing the proprietary rights of others and implement new technologies;
  • conditions to, and obligations related to, the receipt of government incentives;
  • environmental, health and safety liabilities and expenditures;
  • warranty claims, product return and liability risks, and the risk of negative publicity if our products fail, as well as the risk of litigation incident to our business;
  • natural disasters and other calamities, political instability, hostilities or other disruptions;
  • restrictive covenants in the indentures and agreements governing our current and future indebtedness;
  • the possibility that we may decrease or suspend our quarterly dividend;
  • significant severance plan obligations associated with our manufacturing operations in Korea; and
  • the ability of certain of our stockholders to effectively determine or substantially influence the outcome of matters requiring stockholder approval.

Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect our operating results and financial condition are discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “Form 10-K”) and from time to time in our other reports filed with or furnished to the Securities and Exchange Commission (“SEC”). You should carefully consider the trends, risks and uncertainties described in this press release, the Form 10-K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks or uncertainties continues or occurs, our business, financial condition or operating results could be materially and adversely affected, the trading prices of our securities could decline, and you could lose part or all of your investment. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. We assume no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release except as may be required by applicable law.

Jennifer Jue

Vice President, Investor Relations and Finance

480-786-7594

jennifer.jue@amkor.com

Source: Amkor Technology, Inc.

FAQ

What was Amkor's (AMKR) revenue in Q3 2024?

Amkor Technology reported revenue of $1.86 billion in Q3 2024, representing a 27% increase from the previous quarter.

What is Amkor's (AMKR) Q4 2024 revenue guidance?

Amkor provided Q4 2024 revenue guidance of $1.60 billion to $1.70 billion.

What was Amkor's (AMKR) earnings per share in Q3 2024?

Amkor reported earnings per diluted share of $0.49 in Q3 2024.

How much cash does Amkor (AMKR) have as of September 30, 2024?

Amkor had $1.5 billion in total cash and short-term investments as of September 30, 2024.

Amkor Technology Inc

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