Document
Amkor Technology Reports Financial Results for the Second Quarter 2026
TEMPE, Ariz. -- July 27, 2026 -- Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the second quarter ended June 30, 2026.
Record Second Quarter 2026 Highlights
•Net sales $1.90 billion, up 26% year-on-year
•Gross profit $319 million, operating income $200 million
•Net income $174 million, earnings per diluted share $0.70
•EBITDA $400 million
“Amkor delivered record second quarter revenue and strong profitability, with record revenue in our Computing and Automotive & Industrial end markets," said Kevin Engel, president and chief executive officer. "During the first half of 2026, we expanded strategic partnerships across the semiconductor ecosystem, advanced key customer programs in AI and HPC, and continued the expansion of our Advanced packaging and test capacity. We expect these actions will strengthen our competitive position, increase our earnings power, and create sustainable shareholder value.”
Quarterly Financial Results
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($ in millions, except per share data)
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Q2 2026 |
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Q1 2026 |
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Q2 2025 (2) |
| Net sales |
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$1,898 |
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$1,685 |
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$1,511 |
| Gross margin |
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16.8% |
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14.2% |
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12.0% |
| Operating income |
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$200 |
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$100 |
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$92 |
| Operating income margin |
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10.5% |
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6.0% |
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6.1% |
| Net income attributable to Amkor |
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$174 |
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$83 |
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$54 |
| Earnings per diluted share |
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$0.70 |
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$0.33 |
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$0.22 |
| EBITDA (1) |
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$400 |
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$285 |
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$259 |
(1) EBITDA is a non-GAAP measure. The reconciliation to the comparable GAAP measure is included below under “Selected Operating Data.”
(2) During the three months ended June 30, 2025, our results include a $32 million net benefit to operating income and EBITDA due to a contingency payment related to our acquisition of Nanium in May 2017. Net income and earnings per diluted share also include a $16 million and $0.07 benefit, respectively.
At June 30, 2026, total cash and short-term investments was $2.5 billion, and total debt was $2.5 billion.
The company paid a quarterly dividend of $0.08352 per share on June 23, 2026. 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 third quarter 2026 (unless otherwise noted):
•Net sales of $1.95 billion to $2.05 billion
•Gross margin of 18.5% to 19.5%
•Net income of $180 million to $205 million, or $0.72 to $0.82 per diluted share
•Full year 2026 capital expenditures of approximately $2.5 billion to $3.0 billion
Conference Call Information
Amkor will conduct a conference call on Monday, July 27, 2026, 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. (Nasdaq: AMKR) is the world’s largest U.S. headquartered OSAT and is a global leader in outsourced semiconductor packaging and test services. With a strong track record of innovation, a broad and diverse geographic footprint and solid partnerships with lead customers, Amkor delivers high-quality solutions that enable the world’s leading semiconductor and electronics companies to bring advanced technologies to market. The company’s comprehensive portfolio includes advanced packaging, wafer-level processing, and system-in-package solutions targeting applications for smartphones, data centers, artificial intelligence, automobiles and wearables. For more information visit amkor.com.
Investor Relations
Jennifer Jue
Vice President, Investor Relations
480-786-7594
jennifer.jue@amkor.com
Media Relations
Kris Pugsley
Vice President, Marketing Communications
480-786-7499
kris.pugsley@amkor.com
AMKOR TECHNOLOGY, INC.
Selected Operating Data
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Q2 2026 |
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Q1 2026 |
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Q2 2025 |
| Net Sales Data: |
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| Net sales (in millions): |
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| Advanced products (1) |
$ |
1,557 |
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$ |
1,372 |
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$ |
1,228 |
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| Mainstream products (2) |
341 |
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313 |
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283 |
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| Total net sales |
$ |
1,898 |
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$ |
1,685 |
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$ |
1,511 |
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| Packaging services |
88 |
% |
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89 |
% |
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88 |
% |
| Test services |
12 |
% |
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11 |
% |
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12 |
% |
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| Net sales from top ten customers |
66 |
% |
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68 |
% |
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72 |
% |
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| End Market Distribution Data: |
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| Communications (smartphones, tablets) |
42 |
% |
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44 |
% |
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40 |
% |
| Computing (data center, infrastructure, PC/laptop, storage) |
22 |
% |
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21 |
% |
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22 |
% |
| Automotive, industrial and other (ADAS, electrification, infotainment, safety) |
22 |
% |
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21 |
% |
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20 |
% |
| Consumer (AR & gaming, connected home, home electronics, wearables) |
14 |
% |
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14 |
% |
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18 |
% |
| Total |
100 |
% |
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100 |
% |
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100 |
% |
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| Gross Margin Data: |
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| Net sales |
100.0 |
% |
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100.0 |
% |
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100.0 |
% |
| Cost of sales: |
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| Materials |
52.6 |
% |
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53.5 |
% |
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52.9 |
% |
| Labor |
10.0 |
% |
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10.7 |
% |
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11.7 |
% |
| Depreciation |
8.6 |
% |
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9.3 |
% |
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9.6 |
% |
| Other manufacturing |
12.0 |
% |
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12.3 |
% |
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13.8 |
% |
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| Gross margin |
16.8 |
% |
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14.2 |
% |
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12.0 |
% |
(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.
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| Non-GAAP Financial Measure Reconciliation: |
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| (in millions) |
Q2 2026 |
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Q1 2026 |
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Q2 2025 |
| EBITDA Data: |
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| Net income |
$ |
175 |
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$ |
84 |
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$ |
55 |
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| Plus: Interest expense |
17 |
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18 |
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17 |
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| Plus: Income tax expense |
28 |
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12 |
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28 |
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| Plus: Depreciation & amortization |
180 |
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171 |
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159 |
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| EBITDA |
$ |
400 |
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$ |
285 |
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$ |
259 |
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AMKOR TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
(Unaudited)
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For the Three Months Ended June 30, |
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For the Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
| Net sales |
$ |
1,897,965 |
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$ |
1,511,392 |
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$ |
3,582,666 |
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$ |
2,832,967 |
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| Cost of sales |
1,579,375 |
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1,329,495 |
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3,025,044 |
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2,493,487 |
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| Gross profit |
318,590 |
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181,897 |
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557,622 |
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339,480 |
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| Selling, general and administrative |
78,904 |
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47,922 |
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175,891 |
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128,330 |
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| Research and development |
39,832 |
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42,008 |
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81,590 |
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87,660 |
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| Total operating expenses |
118,736 |
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89,930 |
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257,481 |
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215,990 |
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| Operating income |
199,854 |
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91,967 |
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300,141 |
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123,490 |
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| Interest expense |
16,971 |
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16,810 |
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34,681 |
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33,619 |
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| Other (income) expense, net |
(20,292) |
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(8,057) |
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(34,023) |
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(19,132) |
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| Total other (income) expense, net |
(3,321) |
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8,753 |
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658 |
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14,487 |
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| Income before taxes |
203,175 |
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83,214 |
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299,483 |
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109,003 |
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| Income tax expense |
28,306 |
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28,162 |
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40,648 |
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32,098 |
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| Net income |
174,869 |
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55,052 |
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258,835 |
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76,905 |
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| Net income attributable to non-controlling interests |
(1,116) |
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(635) |
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(1,731) |
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(1,360) |
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| Net income attributable to Amkor |
$ |
173,753 |
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$ |
54,417 |
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$ |
257,104 |
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$ |
75,545 |
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| Net income attributable to Amkor per common share: |
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| Basic |
$ |
0.70 |
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$ |
0.22 |
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$ |
1.04 |
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$ |
0.31 |
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| Diluted |
$ |
0.70 |
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$ |
0.22 |
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$ |
1.03 |
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$ |
0.30 |
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| Shares used in computing per common share amounts: |
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| Basic |
247,912 |
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247,090 |
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247,732 |
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246,973 |
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| Diluted |
249,978 |
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247,806 |
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249,830 |
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247,842 |
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AMKOR TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
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June 30, 2026 |
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December 31, 2025 |
| ASSETS |
| Current assets: |
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| Cash and cash equivalents |
$ |
1,551,890 |
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$ |
1,378,347 |
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| Restricted cash |
1,580 |
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— |
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| Short-term investments |
960,272 |
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613,038 |
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| Accounts receivable, net of allowances |
1,420,353 |
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1,354,825 |
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| Inventories |
560,681 |
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437,797 |
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| Other current assets |
113,853 |
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100,754 |
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| Total current assets |
4,608,629 |
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3,884,761 |
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| Property, plant and equipment, net |
4,478,951 |
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3,870,808 |
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| Operating lease right of use assets |
84,440 |
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93,449 |
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| Goodwill |
17,356 |
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18,003 |
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| Restricted cash |
186,875 |
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67,776 |
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| Other assets |
339,863 |
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201,512 |
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| Total assets |
$ |
9,716,114 |
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$ |
8,136,309 |
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| LIABILITIES AND EQUITY |
| Current liabilities: |
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| Short-term borrowings and current portion of long-term debt |
$ |
150,781 |
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$ |
162,430 |
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| Trade accounts payable |
880,686 |
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912,766 |
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| Capital expenditures payable |
621,326 |
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243,543 |
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| Short-term operating lease liability |
22,766 |
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23,140 |
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| Accrued expenses |
447,291 |
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370,093 |
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| Total current liabilities |
2,122,850 |
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1,711,972 |
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| Long-term debt |
2,334,950 |
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1,282,816 |
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| Pension and severance obligations |
68,127 |
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69,218 |
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| Long-term operating lease liabilities |
38,943 |
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48,549 |
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| Other non-current liabilities |
464,416 |
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517,467 |
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| Total liabilities |
5,029,286 |
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3,630,022 |
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| Stockholders’ equity: |
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| Preferred stock |
— |
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— |
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| Common stock |
295 |
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294 |
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| Additional paid-in capital |
2,025,469 |
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2,054,051 |
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| Retained earnings |
2,842,719 |
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2,627,038 |
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| Accumulated other comprehensive income (loss) |
15,107 |
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16,833 |
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| Treasury stock |
(233,178) |
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(227,110) |
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| Total Amkor stockholders’ equity |
4,650,412 |
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4,471,106 |
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| Non-controlling interests in subsidiaries |
36,416 |
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35,181 |
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| Total equity |
4,686,828 |
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4,506,287 |
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| Total liabilities and equity |
$ |
9,716,114 |
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$ |
8,136,309 |
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AMKOR TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
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For the Six Months Ended June 30, |
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2026 |
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2025 |
| Cash flows from operating activities: |
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| Net income |
$ |
258,835 |
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$ |
76,905 |
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| Depreciation and amortization |
350,553 |
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312,663 |
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| Other operating activities and non-cash items |
(37,303) |
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1,312 |
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| Changes in assets and liabilities |
(190,512) |
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(108,268) |
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| Net cash provided by operating activities |
381,573 |
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282,612 |
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| Cash flows from investing activities: |
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| Payments for property, plant and equipment |
(688,425) |
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(226,086) |
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| Proceeds from sale of property, plant and equipment |
35,913 |
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|
4,762 |
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| Proceeds from foreign exchange forward contracts |
21,744 |
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41,920 |
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| Payments for foreign exchange forward contracts |
(30,958) |
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(28,967) |
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| Payments for short-term investments |
(774,110) |
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(331,393) |
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| Proceeds from sale of short-term investments |
183,384 |
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|
76,021 |
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| Proceeds from maturities of short-term investments |
243,651 |
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|
256,266 |
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| Other investing activities |
1,091 |
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|
1,680 |
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| Net cash used in investing activities |
(1,007,710) |
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(205,797) |
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| Cash flows from financing activities: |
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| Proceeds from long-term debt |
1,150,000 |
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|
500,000 |
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| Payments of long-term debt |
(80,265) |
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|
(112,163) |
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| Payments for debt issuance costs |
(20,509) |
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|
(6,963) |
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| Payments for capped call transactions |
(56,350) |
|
|
— |
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| Payments of finance lease obligations |
(25,354) |
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|
(30,627) |
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| Payments of dividends |
(41,403) |
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|
(40,860) |
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| Other financing activities |
(3,926) |
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|
(1,167) |
|
| Net cash provided by financing activities |
922,193 |
|
|
308,220 |
|
| Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash |
(1,834) |
|
|
8,792 |
|
| Net increase in cash, cash equivalents and restricted cash |
294,222 |
|
|
393,827 |
|
| Cash, cash equivalents and restricted cash, beginning of period |
1,446,123 |
|
|
1,134,312 |
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| Cash, cash equivalents and restricted cash, end of period |
$ |
1,740,345 |
|
|
$ |
1,528,139 |
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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. 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. 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;
•changes in costs, quality, availability and delivery times of raw materials, components and equipment;
•fluctuations in operating results and cash flows;
•competition with established competitors in the packaging and test business, the internal capabilities of integrated device manufacturers and other competitors, including foundries and contract manufacturers;
•our substantial investments in equipment and facilities to support the demand of our customers;
•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;
•difficulty achieving the relatively high-capacity utilization rates necessary to realize satisfactory gross margins given our high percentage of fixed costs;
•our absence of backlog and the short-term nature of our customers’ commitments;
•the historical downward pressure on the prices of our packaging and test services;
•fluctuations in our manufacturing yields;
•a downturn or lower sales to customers in the automotive industry;
•dependence on key customers or concentration of customers in certain end markets, such as mobile communications and automotive;
•difficulty funding our liquidity needs;
•challenges with integrating diverse operations;
•dependence on international factories and operations, and risks relating to trade restrictions and regional conflict, including restrictive trade barriers, export controls, tariffs, customs and duties;
•our ability to develop new proprietary technology, protect our proprietary technology, operate without infringing the proprietary rights of others and implement new technologies;
•our continuing development and implementation of changes to, and maintenance and security of, our information technology systems;
•restrictive covenants in the indentures and agreements governing our current and future indebtedness;
•our substantial indebtedness;
•terms of our convertible notes could delay or prevent an otherwise beneficial takeover of us, may dilute the ownership interest of existing stockholders or may otherwise adversely affect the price of our common stock;
•the capped call transactions entered into in connection with the issuance of our convertible notes subject us to counterparty risk;
•the effect of interest rate increases on our variable rate indebtedness;
•fluctuations in interest rates and changes in credit risk;
•the ability of certain of our stockholders to effectively determine or substantially influence the outcome of matters requiring stockholder approval;
•the possibility that we may decrease or suspend our quarterly dividend;
•difficulty attracting, retaining or replacing qualified personnel;
•maintaining an effective system of internal controls;
•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;
•environmental, health and safety liabilities and expenditures;
•conditions and obligations in connection with the receipt of government awards and incentives; and
•natural disasters and other calamities, health conditions or pandemics, political instability, hostilities or other disruptions.
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, 2025 (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.
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