AMKR - Earnings call transcript Q1 2024

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Operator

Good day, ladies and gentlemen, and welcome to the Amkor Technology First Quarter 2024 Earnings Conference Call. My name is Diego, and I will be your conference facilitator today. [Operator Instructions]. I would now like to turn the call over to Jennifer Jue, Head of Investor Relations. Ms. ahead. go please Zhu,

Jennifer Jue

Good Amkor's and Conference First operator. joining Call. you us for Quarter afternoon, you, thank everyone, for Thank XXXX Earnings

and Joining Chief Financial Giel are Megan Officer; Officer. me Chief Faust, Rutten, our today Executive our

earnings that this and SEC accompany Relations of today's is with with along Investor afternoon our the call. press website, release on the Our filed page the was available presentation slides

equivalent to on measures, presentation, website. and non-GAAP you the we U.S. the find this GAAP During financial reconciliation our will can use

We we will about statements our expectations based on for performance make forward-looking it. Amkor's the currently future environment as see

Of differ XX-Q. over filings refer final for Please from in note Please materially course, cause financial and to SEC risk included our on release Form could factors, these I'll to uncertainties, the discussed Giel. and expectations. now and could preliminary actual the today information are results that data exceptions to call our results be turn results differ. will And that press actual

Giel Rutten

significant After year-on-year the we the the with Amkor. Thank expectations you, most delivered line industrial for X% for $X.XX. revenue markets. point from everyone, in low a revenue the and first a decline for automotive you $X.XX cycle, results first-quarter industry today. thank with marks the Overall, and multi-quarter call revenue and joining EPS Amkor of decline billion of Jennifer. with believe Good quarter and afternoon, utilization

impact uncertainties market recovery positive to we portfolio. geopolitical multiple of and our in continue macroeconomic across Although market sentiments, signs areas observed

unique growth positioned the we With in cycle. the exits strategic leadership to lead and we to quarter, our industry as our advanced diversified to elevate markets, technology secular partnerships footprint, position. continued the in with the strong well During global customers leadership are accelerate pillars packaging, a on our focus

Now communications each the market quarter. markets. review the first dynamics the in year-on-year end of X% let in end Revenue our declined in me

the in record XXXX. a second ecosystem, larger-than-seasonal we revenues the correction experienced iOS half Within after of

measures. our In year-on-year AI the as the observed in opportunities strong supply business and inventory implemented like drive business in control smartphones up growth from QX, near-term car believe projected smartphones throughout per Overall inventory remain growth digits XX% corrections, drivers We for for XXXX. long-term and customers NAND the Android premium revenue this automotive our Despite industrial advanced year. several as declined be demand memory, and well Semiconductor further are is chain With these of we as growth. year-on-year content lows to intact. multiple Within by demand advanced requiring increase, increased electrification, single accelerate edge solutions. expected will requirements innovation of low has the introduction to leading units packaging infotainment, in stringent and the automotive improvement in to decades the packaging that of OSAT continue and this position of leadership, and expect technology. industry. meeting driven experience ADAS, packaging the our of devices create telematics to into automotive is Amkor's tier Amkor we advanced proliferation smartphone all for

leaders our with of used base chain. semiconductor Portugal we facility quarter, a enhancing key partnerships the supply in During industry as for European resilient a support

automotive come Japan. and for increased on traditional of strengthening AI quarter. through the devices leading to the from X% infrastructure driven computing to ARM-based expanded devices PCs. track the and and expand Slow online footprint in the with geographic several semiconductor by focused end companies year-on-year and recovery in with strength second We introductions X.XD end in product are a X% resulted investments demand Revenue new decline. broad automotive server We our by for of our AI locations Planned other capacity semiconductor customers. market leveraging factory engagements Kumamoto also on in partnerships Japanese leading sequentially, remain

utilizing year-on-year We efforts a set growth. of technologies consumer Production end of year. AR/VR emerging technologies for IoT year-on-year increased are Korea also the and high-performance in engaged next-generation weak, demand and remains volume the devices, is typical ranging customers X% for packaging innovate Amkor to the seasonal ramps product consumer products, demand drove from increased across quarter. advanced market computing. lead The strengthened high new track second advanced experienced a products, our in first for while and the wearables SiP production half smartwatches, audio Traditional on R&D this in experience. enable with diverse of decline

and and capacity Our invest advanced we to growth, SiP for scale well to manufacturing innovation. continue positions drive expand and expertise us

second During operational and required on by and demonstrate technology this Korea, focused standards year. maintaining in our half focus our the while high-quality AI a with ramps the cost optimizing to quarter, data SiP memory first We X.XD excellence in of for applications, the capacity advanced on support manufacturing on customers. to in supporting organization center Vietnam qualifying control continued technology

for our packaging test in for Arizona full submitted our plans progressed advanced we Additionally, and funding. and application our facility CHIPS

outlook. the our let multi-quarter turn point believe cycle, revenue. the low we to our semiconductor second of first industry a Now After me quarter quarter marked

premium additional a the revenue XXXX half, of foresee first flat in ramp launch half seasonal driven online muted expect second-quarter X% which wearable of $X.XX a consumer of coming not the technology. followed capacity X.XD of represents for We new and smartphones, revenue We have year-on-year. growth for meaningful program, our full-year by Overall, strong billion, expectations tier a second by sequential changed. growth and

Assumptions levels Android, additional for and inventory PCs balanced more memory, within and confidence.

footprint, information. financial will cycle. with the our in scale, industry than I leading Megan in technology this areas believe the that, accelerate that to exits portfolio. Although the over for We in turn to to more our be earlier remain of see as current other the drivers our confident global and more the growth portfolio, With we provide now call are secular place. to semiconductor the position detailed expected industry we upsides industrial and year, we appears automotive market And softening

Megan Faust

everyone. revenue cycle this good Giel, revenue anticipate first-quarter half. in as afternoon, be stronger signs believe we $X.XX and Amkor see with for and delivered line We billion, expectations. quarter a of the of second you, recovery this will Thank lowest

First depreciation margin to includes quarter was was million, on XXX related margin approximately expense lower gross XX.X%. basis Gross points benefit a profit our gross and $XXX of test equipment.

which in allowing costs. longer to while ability environment. annual the of a sold. cost the teams decrease quarter, the in anticipated million, an as expected reflecting and at as compensation contributed reduction, second in demand of the are maintaining the equipment to of Operating profitability support XXXX. costs reset to factory of The well During expenses response of for employee an cost our $XXX change utilization increase control, continue levels of reduced to the sustain to extended lives half quarter came lower we as overtime Net useful bring from a margin test and to factory as million, and useful in broader periodic equipment. X.X%. maintenance the $XX utilize our lives operating Operating assessment and life us depreciable in income factory during control useful performed was online. our a equipment manufacturing Reduced new benefit was measures the and of $XX other the quarter resulting temporary includes test supplies first costs focused use. was result These the labor Headcount of flexible of $X.XX, in for low in EPS to quarter measures income weeks work income million $X.XX contributed our containment a tools, goods estimated Vietnam

was was First XX.X%. and million, $XXX margin quarter EBITDA EBITDA

of We strong. remains sheet total liquidity with billion ended short-term balance Our and of $X.X the billion. $X.X cash investments and quarter

Our $X.X is our end as the billion, total of the quarter Xx. of debt debt-to-EBITDA is and ratio

our to on outlook. Moving second quarter

X%, stronger of sequential than historical increase around representing of We QX slightly seasonality. billion, expect revenue a $X.XX

While softness, we returning there seeing of to seasonal a are pattern. still balanced signs some are of demand more areas

XX% with material and to We content. reflecting expect XX%, gross the product a margin mix higher be between

expect to costs factory. operating increase We to our to Vietnam for $XXX primarily around million, preparation QX due expenses

to of high-volume in expect qualify on are to year. second initial we and products Our half the track, begin manufacturing the activities

to rate XX%. expect around be We effective full-year our tax

income net to Second EPS million, in to expected $X.XX. between $XX be and $XX of $X.XX quarter is million resulting

for forecast Our at the million. remains CapEx year $XXX

advanced focused is and of through as experience, a to free expanding increasing our successfully align and Amkor manufacturing Our cycle. decades with that preserve packaging to have structure profitability, lower we navigate SiP leader this investments generate managed facilities. and technology as flow. We with X.XD select for well primarily advanced experience demand, cash capacity are semiconductor on leveraged cost

qualification support most this strategically by geographic We applications. and expand beginning in computing, the up in completing your us technology new serve as invest of will to for With products. specifically exit We advanced packaging activities as that, growth we growth footprint markets dynamic factory and broad poised cycle. the our enable for leading high-performance Operator? further companies to for are to continue such we open now Vietnam world's environment, invested the the our AI call to the semiconductor we questions. These

Operator

Instructions] comes Sachs. [Operator Toshiya with question Hari Goldman Our first from

Toshiya Hari

Giel, strong largely you for your year, full the results. unchanged. on that the remains Congrats mentioned outlook

are softer expected that ago. X comment did You months what a auto and little industrial than had you

you're if thinking offsets, cetera, some how consumer, helpful. walk that you would of be are through about what So computing, can the et

Giel Rutten

from year the well the the the new automotive good will mentioned during the on where recovery will that Toshi, weaker compute launch to consumer triple there with elements will of as be that the mean of side, in that upsides the but for for see revenue expect for compensate some X.XD Android call. XXXX, the as the consumer device in the on side some in for will markets view you us launch of as first offsets performance the slightly Yes, of devices lower compensation second as that We the upside, come, a year. to the give I the upsides us this all, give well before, we on of half of an see our performance. we also revenue the also communication automotive XXXX the

Toshiya Hari

maybe margin Megan, on the And then my as one for side. gross follow-up,

lower in material it QX? part end think the you, costs. guidance. your on of it deteriorating the for with was maybe gross What upside So QX, have towards high you came benefit see upside margins if exclude mix Was or even ago? the higher conservatism in months about And from drove mix? pricing I you QX, in the talked depreciation, you what did X any then Or just

can expand be that, on would you If that helpful.

Megan Faust

you're depreciation the say the the notable was that to outperformance, thing right respect our in there margin I would that even continued performance, cost control. gross on was Really, with our benefit range. only even revenue exceeded without So higher

what slightly in came costs revenue. in guided we the upside lower than the had So despite

QX story the margin. that's gross around So

product to mix you'll on move We're we the higher pressure that. for see SiP we margin as As and start That communications, anticipating QX, there a as some element. QX into and have the will is we those content in there tend note associated material is into with products, higher be gross come a percentage. move to advanced things that

putting expecting to are So despite there gross margin have higher dollars. higher being the we content pressure material profit percentage, on gross

Operator

question Research. And comes our Reitzes from with Melius Ben next

Benjamin Reitzes

ask I wanted market. to about smartphone the

Just I'd Or as XXXX? follow-up. in a feel appreciate are the smartphones I expecting is And characterize launches XXXX second a throughout you have year, can if then this go strong in? you AI year. And like does really we just kicks it it. when half of

Giel Rutten

the the on mid-single smartphone digits That's up. the upside one important volumes Android are the market to top some see And expected from on lower, the versus of is that One the if the side when market trend comments we market, that, say, year we inventory that compare up, my go X are enter us we gives side. specifically let's On there. levels, that and drives XXXX.

trend is a smartphone the trend well China in or our a in non-China than place second that to higher-end the better as as see smartphone gives end. the market we in a smartphones. in both is And position of advantage toward The trend premium market low tier over the midrange the where market, segment

market smartphone we earlier these this some the X assumptions elements, given our year. upside compared to So as see on entering

Benjamin Reitzes

on just I clarify. margin, Great gross the to you, for Megan, want

quarter, So Can mentioning prior there's Or that quarter. there the from Or $X.XX that we a flow to from answer to flow question, each last, offsets It's earnings? make quarter. to going that you it? I benefit through in assume, can upside year were each could that for in we the change? be up depreciation through all the

Megan Faust

respect Ben, the as in the to yes, lives, disclosed, estimated that in change with about was bottom line. $X.XX QX useful on impact

fully become going is those we benefit that gradually assets As through decrease as year, depreciated. go to the

So and than say, out. less as that impact through we get the further second QX is, will half, become in it

that bottom you won't line. be add the straight to it can just something So

Operator

from Our Riley B. Craig next comes question Securities. with Ellis

Craig Ellis

X Congratulations as just understand on point Giel you're the the I months, to a performance Megan. Megan, and and wanted to reference thinking back good business' go performance, how about that use half-on-half.

I that still potential think was thought XX% the at the to look right growth. for way we there months ago, X Is half-on-half business?

Giel Rutten

me start we Megan I can more the then maybe some some see still Greg, assumption let details. and that roughly XX% Well, mean, a first-half, seasonality. second-half giving comments, is give

We expect to than better the a come first in originally half bit anticipated. we

to outlook seasonality on place to say, let's we expect, qualitative assumption seasonality And underlying that add months that that? in That's a than still the can ago. So being and still with the basis. higher you confirmed, Megan, similar X

Megan Faust

Craig. Yes,

the takes us previously described as weaker bit upside that's automotive say, would bit in a with and just shifted puts a that some I just markets. So other to and a have It's bit, same get sentiment. the that of we the more overall,

So outperformance even an I though in say there's slightly our better seasonal. guide than QX would is and QX,

be anticipate the say something as that could second-half I we full For that as would 'XX year, growth. strong still would

Craig Ellis

compute the And it. the dive deeper one first business then a just helpful. second is Got in quarter. That's the into

was early for into detail than there more just HPC might a what you program the modeled And that XQ bit? we X.XD a had drove on Or Can had that So sequentially expected. little go at little have more getting memory? is that? I'm on bit an helped better was start maybe what than

Giel Rutten

puts Yes, compute and first on some in Greg, had mean, the takes I quarter we the market.

On was our conventional compute still the more downside, business slow.

we the the market. We I PC saw gave ARM-based slow. a although think upside that where And some the memory some market conventional good since launched and relatively laptop PC on saw that in servers on the would say is products improving, one new still was upside some was the try small. business, were PC than in We gradually stream in on slightly And us although, continuously say, second we that data let's overline capacity X.XD, already will on utilization to better I upside. you center the the bigger increase expected there. other quarter, optimize mentioned the come we the

Craig Ellis

Megan, If know often ramp lower ask in you've I capability a is might programs I a tilt gross when little that, we've talked could toward clarification corporate time, know past, a that the for had program. on a just than more I new X.XD can but bit Megan. this margin. at some I think new

have back in So as we should this about the anything think program becomes bigger? we of mind half the as year

Megan Faust

in to play I is out the products corporate see associated So wouldn't already -- scale we Its our these continue than any the this we profitability are obviously, We would movements. profitability product. do anticipate expanding with average, technical production, that with have this second and the respect significant to a high-value greater but existing very is been half. in since

Operator

comes question from Needham Charles Shi & Company. with next Our

Yu Shi

question the Megan, on to X.XD. allow ask me technology

leading a standard in probably base the that X.XD organic think posted from silicon bit is future in the X.XD, base, foundry little the of and the interposer type the moving towards embedded X.XD. the more probably distant I

the can So you and right pump better maybe poster help the you in one in And offset a future? capability with interposer the embedded full you have you bit you that address respect the thing little us to capability? what about has Could of base, can the organic is do status now. the standard in being understand base, how capability long maintain expect in-house application

Giel Rutten

your got I question, Charles. Yes,

repeat me Let that.

technology and we line how with positioned how interposer technologies indeed we was question that. next-generation that on along after are see X.XD Your the the

customer, comes running expect and to we But an RDL we one let's when with launched active X to introduced X.XD it with new XXXX. those customers say, existing Now for, see currently, with to into run we'll early X.XD. silicon from but interposer that we be also to interposers, transition X qualified structures that that see we X continue We expect next years. and technologies the

run expect that, I dies. technology, think variation RDL as basically parallel with there, uses that to as we the to And together which then top silicon next-generation a bridge structure connectivity see interposer in the technologies. the to say, also. a that bridge And between of a let's we time on in-house For, we have being, the X capability

is that So your answering question, Charles?

Yu Shi

in they what you about of X.XD, peers? Maybe under ambiguous a probably what of do do your the doing? kind call a a earnings competitor little was foundry as the things you the positioned than versus they having? uniquely with are you are on respect Yes. competitors follow-up, to role X.XD don't. what you to your partnership play their Can maybe between capable with part are clarify packaging its are bit they OSAT And already your What are more bit still little and what you lie

Giel Rutten

We alternatives yield that hold would we the comment mean, But are I business you is, to And being coming in generation, capacity standards. we That The me our a last RDL when early in we Amkor by say, our, the of with or for there. the an That we performing I that stream industry are accelerate give a are on comes flow. years devices, to definitely, wafer details revenue the on to to cannot is and But the we're of launching performance there. doing few fan-out as indicator capacity well our on on by that's high-end XXXX. X.XD, generally, scale, in second customer expect let started expand ago, the we highlights at all tripling results computing has OSAT multiple substrate I X.XD compared shortage are technology currently rapidly currently still or explored at don't still year, for a levels in and we're means only and industry tripling lead capabilities important technologies it competitors. there as to we comment Charles, ramping quarter, we believe let's to say, for full here. that up. because our continue.So capacity third and this that competitors. production that as end to are of high-volume our a doesn't mentioned,

environment are when whole volumes diversify will that in we go don't that still exclude up. see we the supply would I of positioned, chain the markets, growing but So really well

Operator

question And Abrams our with next comes Randy UBS. from

Randy Abrams

just first on Giel, one actually, packaging. The question, up to last the the advanced follow on

factoring new you are NVIDIA further Just good that? to tripling, plans do to any interest to starting RDL prepare or and have you on see parts. also have for orders you if capacity strength Just interposer seeing Do after you already the for the we're share further expand? anything

Giel Rutten

Yes, Randy.

equipment we that will wanted We in in continue team a we last ramp call ramp capacity, let's the also on the place this of year, say, out becomes, Korea, capacity ramp factory and technologies. where the between fungible second plans we avoid in to in to advanced report the The capacity. to lot of our, beyond commented our continue the will continue but A up is the we recurring we interposer earnings this half But capacity. tripling. say, definitely, let's is silicon our we where RDL let's ramp significant have, as well as versus in interposer up where our our we ramp will bring to to that say, pumping

Randy Abrams

up is per assume opportunity when I there silicon foundry, kind up or is the how interposer dollar would that to step is built on -- solution up, interposer, the follow a amount the do just scales the you can versus to RDL since And you what scale meaningful business you're doing processing And do your Do you interposer? value get now? of actual now. that curious how the expect the RDL you'll of of versus in

Giel Rutten

want Yes, don't specific here. numbers quote to I

answer is So the yes.

the is by where foundries ourselves. value interposer the then interposer, created it's silicon is we the you generated give RDL silicon foundry supplied and And bring interposers. in on being us if case procured to than the unit. per the an that interposer significantly value think is that RDL on this the more the a or I The by look by upside value will on

Randy Abrams

compute Do the engine type maybe even it's we you ask like put start test a for to compute. mobile device? value added device And of whether in much follow-up to called the of since AI change, the or as you packaging addition -- to out the time see the AI or in

Giel Rutten

the platform, test we're in Yes, not we integrated that's increased good Randy. this devices, another transition, move that only mobile for and but We equipment versus test in with a actually that for general, doubling gradually XX% question, means to with XXXX, AI also a including investment test and not that it capabilities actually or see XXXX. next-generation one our we

significant increase. complexity of not is complex. more testing an AI of that the but is one co-processor one So a only reasons, the the the of And getting with reason, reasons devices these

Operator

comes next D.A. from Diffely our And question Tom with Davidson.

Thomas Diffely

ramp first, I guess costs at look that the Vietnam margin? that depreciation the the how but several already some expect gross next When in question and you quarters, you in impact or do for margin another to know the Megan. system, over are I

Megan Faust

to our factory have online labor with incur costs. that yes, we to bring respect so other Tom, started and cost to

the into QX well as part of uptick QX. OpEx is that had so And as that in we moving

cost that a high that goods picture. about the moves think year, those our we half fairly costs when second sold, and volume of of to at that is part move into ramp of the a As the minor production moving into total

we're anticipating impact. significant not a So

some small, as programs be that utilization impact. will there do is up However, you ramp and

Thomas Diffely

as as that or one facility subsidies can an And Carter. on new as potential go. the if far timing The you haven't was Giel, us a follow-up, built I wondering you update give Arizona

Giel Rutten

Yes, Tom, thanks.

making progress clear. mean, I significant there. I was think the we're question

with technology supply technologies, our in we facility. as the roadmap the chain in to We We're plan We're detail building our and place. team the design other the capacity, timing. a out with with to to design our have work company as partners identifying contractors well working start a customers to

as ongoing The still We to the significant to as a I is for in And yes, of good is building prepare that's there place. confirmation only try the get. silicon So that effort the capacity possible can availability timeline the to in timeline the factory. U.S. tune

comes think the I it of also. a when location settled to we lot the details

Thomas Diffely

CHIP it of doesn't irrespective with funding, continue require But you'll that, X Okay. on it?

Giel Rutten

U.S. CHIP on the operations the in starting higher in is facility part funding requires the the build comment Well, market cannot order will X top and facility the U.S. business costs details let's the sustainable for fundamental mean support we require the of greenfield that and there, a manufacturing aligned this very feel there, of to case very significant we but in U.S. I CHIPS the there. manufacturing say, funding to I starting strategy to with, are start-up in But a back the all of U.S. reshoring the office running the cost, for confident and chip we

that confident there. on right fairly are the we So track we're

Operator

comes question with Joe next Moore Our Instructions] Stanley. [Operator from Morgan

Joseph Moore

bit quite cash talk about? plans generating on just kind cash uses there? the of can you been I that wondered, you've Any of a of Any sheet. balance

Megan Faust

relates course, upcoming So the require really of our opening for the facility the as of aware there. will as facility. U.S. as building then, well I all our of well. also of we're in building is And allocation would facility. We're sharing current it and Vietnam We're reinvesting as been at a that expanding Europe our And the our we've looking our cash new -- far footprint, our our expansion #X priority. say to priorities, liquidity, business capital

our our to shareholders, XX% staying our flow So cash. with commitment say I priority investing up most in R&D. with #X to that of followed of would Also to that that our by advanced have on another would that then commitment we're ensuring is cash technology returning the XX% be free respect and we

Operator

Our next Capital Steve Barger with KeyBanc Markets. comes from question

Steve Barger

makers the been buying lot Domestic memory. think past really in quarters. of for active equipment wafer have several chip China a over in And that's I fabrication

take mature China And with you capacity makers the node regions think for in will capacity can do across gains Asia? how So share to incremental own manage you first, it online? chip long potential come that for talk your as you those in second, about

Giel Rutten

There the good is China, silicon include I in that mature ongoing That's that Steve. generation more the and previous for a a question. mostly I indeed in would Yes, capacity say nodes significant assessment. of memory expansion

respect detail are very say that and packaging. we have it, topic, Steve. serving, nodes and very silicon to as and market of would X expansion, more very the expansion cannot don't our understand Mature much very the The silicon that it's on Now that advanced we require nodes much I believe And advanced and China. in full assembly focused it I China. to restricted to is available our is on on much mature I markets the mature test local-for-local business comes a More, currently. say, meters packaging packaging below, in I sell-off and focusing with and still we're when much uses nodes, would latest

Steve Barger

any engagement just And industrial orders? about relationships trying for you those timing to new Japan. deeper think leaders with talked auto or potential industry And expanded way Are conversion to of there for about existing is you're in with Europe those engagements and get customers? to that

Giel Rutten

the, say, definitely IDM all space model, supporting out can in names here leaders with in that engaged model Yes. calling tactical more, them let's customers of more and Good say, question, mean in let's we're for we European supply in without semiconductor Steve. more the in chain. I Portugal. a the that customers engagement would for existing refer say we say, model our to expanding our holds I partnership a Europe the to change our, where partnership longer-term I that manufacturing our most facility with from

there, in same their quarter to manufacturing the for to, let's and chain supply technology footprint Foundries. of let's and say, we've range Europe that Drayson probe in wafer we broad wafer a seamless with say, was, have that Europe. ADAS up We supports say, out sensors devices made FlipsiBGA technologies of That an to last extended let's in teamed bump announcement from Global factories offer a

we're and the in to, also, we modules expanding but that latest them announcement, from capacities, models, what So co-investments, in example, existing all for example, business engagement, in with all, for like models the relates portfolio power dedicated I and Portugal to broadening think market. for EV also different the had

Steve Barger

And some seeds which so also this for there out? you may setting but wins, an ongoing years you're process near-term be wins and view multiple as do in

Giel Rutten

Steve. Yes. Exactly,

say, I year. up some Others think of years. these this the in course materialize the next revenue let's will basically, for couple in and will of materialize of engagements, ramp can

latest of on manufacturing the separate announcement may in into stream that contribution, XXXX. XXXX. build-out of material a the end example, But module For towards in the that would before that 'XX that's revenue that requiring will require go or has go

So starting several this we with engagements expect upside different year. there but dynamics, are the

Operator

showing Thank turn time, to would at to call closing Giel questions. I you. no the this over like back further remarks. for And I'm

Giel Rutten

Thank you.

delivered key cycle, Amkor. of for for industry with revenue first utilization expectations Let messages. the me multi-quarter revenue recap marked point and Amkor $X.XX EPS billion with results we After a first-quarter and the low the of in $X.XX. line quarter believe

our markets. you has today. leadership footprint, lead advancing and technology executing the in on muted revenue Thank XXXX in first half. with changed. have position half of We a pillars: X sequential strategic $X.XX represents to elevate our which strong the customers expanding expectations joining flat X% Amkor geographic for the continued billion, growth engagements its year-on-year. its Overall, leadership, not by our of second-quarter call revenue by expect and We full-year followed growth strengthening growth foresee broad second for

Operator

conference this and concludes today's Ladies call. gentlemen,

disconnect. may You now

Amkor Technology (AMKR) 29 Apr 242024 Q1 Earnings call transcript