Oct. 28, 2024– Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced robust financial results for the third quarter ended September 30, 2024, exceeding expectations driven by strong demand for its Advanced System-in-Package (SiP) technology.
Key Highlights:
Financial Summary (in millions, except per share data):
| Metric | 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 | $309 | $247 | $333 |
(1) EBITDA is a non-GAAP measure. See below for reconciliation to the comparable GAAP measure.
Solid Financial Position:
As of September 30, 2024, Amkor held $1.5 billion in cash and short-term investments and $1.1 billion in total debt. A quarterly dividend of $0.07875 per share was paid on September 23, 2024.
Business Outlook (Q4 2024 Guidance):
“Amkor delivered a remarkable third quarter, exceeding expectations with a 27% sequential revenue increase driven by strong demand for our Advanced SiP technology in the Communications and Consumer sectors,” said Giel Rutten, Amkor’s president and chief executive officer. “We remain focused on executing steep production ramps for several high-volume products and strengthening key partnerships to ensure resilient regional supply chains.”
