Amkor Q2 2024 Earnings Report
Key Takeaways
Amkor Technology reported Q2 2024 results with net sales of $1.46 billion, a 7% increase sequentially. The growth was driven by advanced packaging, particularly for premium smartphones and AI solutions. Strength in communications and computing was partially offset by weakness in the automotive, industrial, and consumer markets.
Net sales reached $1.46 billion, up 7% sequentially.
Gross profit was $212 million, with an operating income of $82 million.
Net income was $67 million, resulting in earnings per diluted share of $0.27.
Growth was primarily driven by advanced packaging solutions for smartphones and AI.
Amkor
Amkor
Amkor Revenue by Segment
Amkor Revenue by Geographic Location
Forward Guidance
Amkor's guidance for Q3 2024 includes net sales of $1.785 billion to $1.885 billion, gross margin of 14.0% to 16.0%, and net income of $105 million to $140 million, or $0.42 to $0.56 per diluted share. Full year 2024 capital expenditures are expected to be approximately $750 million.
Positive Outlook
- Net sales are projected to be between $1.785 billion and $1.885 billion.
- Gross margin is expected to be in the range of 14.0% to 16.0%.
- Net income is forecasted to be between $105 million and $140 million.
- Earnings per diluted share are anticipated to be $0.42 to $0.56.
- Full year capital expenditures are estimated at approximately $750 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income