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AMKR's Q1 EPS of 33 cents beat estimates, and revenues rose 27.5% YoY on broad demand.
Amkor saw strong growth in AI datacenter, smartphones and automotive despite seasonal dips.
AMKR expanded margins, boosted liquidity and guided Q2 sales to the $1.75B-$1.85B range.
Amkor Technology (AMKR - Free Report) reported first-quarter 2026 earnings of 33 cents per share, which beat the Zacks Consensus Estimate by 43.48%. The company reported earnings of 9 cents per share in the year-ago quarter.
Net sales of $1.68 billion surpassed the Zacks Consensus Estimate by 1.97%. The figure increased 27.5% year over year. The quarter’s performance reflected broad-based end-market strength. Sequentially, sales declined 10.8%, primarily due to seasonality in Communications and Consumer end markets.
AMKR’s Q1 Top Line & Mix
Amkor’s first-quarter 2026 revenue mix remained tilted toward higher-value work, even as overall sales stepped down sequentially. Advanced products totaled $1.37 billion, up 28.9% year over year but declining 13.2% sequentially as seasonal softness flowed through the broader top line. Mainstream products contributed $313 million, up 21.3% year over year and 1.6% sequentially, providing a steadier baseline relative to the more program-driven advanced mix.
Packaging comprised 89% of first-quarter 2026 sales, and test services accounted for 11%. Net sales from the top ten customers represented 68% in the first quarter of 2026 compared with 72% in the fourth quarter of 2025.
Amkor Technology, Inc. Price, Consensus and EPS Surprise
In the first quarter, Communications revenues increased 42% year over year, supported by strong demand across premium-tier smartphones.
Computing revenues rose 19% year over year, with the company citing record AI datacenter revenues even as PCs and laptops remained soft.
Automotive and Industrial revenues advanced 28% year over year, and management highlighted record Advanced packaging revenues alongside improving mainstream demand.
Consumer revenues grew 4% year over year, driven by a broad-based improvement in demand across customers.
Margin Details
Profitability improved materially from the year-ago period. Gross profit was $239.0 million, increased 51.7% year over year, and Gross margin expanded to 14.2%, up 230 bps year over year.
Operating income reached $100.3 million, translating to a 6.0% operating margin. Operating margin expanded 360 bps on a year-over-year basis.
AMKR’s Balance Sheet & Cash Flow Details
Amkor’s liquidity remained a notable support pillar. As of March 31, 2026, total cash and short-term investments were $1.8 billion, while total debt was $1.4 billion. The company also cited liquidity of $2.9 billion and a debt-to-EBITDA ratio of 1.1x.
Amkor paid a quarterly dividend of 8 cents per share on March 31, 2026, and its board authorized the repurchase of up to $300 million of common stock on April 23.
In the reported quarter, net cash provided by operating activities was $145.1 million. The company invested $224.6 million in property, plant and equipment, and it also increased short-term investments on a net basis during the quarter, reflecting ongoing capital deployment priorities.
AMKR’s Q2 & 2026 Guidance
For the second quarter of 2026, AMKR expects net sales of $1.75 billion to $1.85 billion and a gross margin of 14.5% to 15.5%. Net income is expected to be $105 million to $130 million. Diluted EPS ranges between 42 cents and 52 cents per share.
Full-year 2026 capital expenditures are projected at approximately $2.5 billion to $3.0 billion.
Operationally, the company framed the year as a “strong start,” pointing to an expanding footprint to meet customer needs, improving utilization while monitoring material constraints and preparing for key Advanced packaging ramps. Initiatives highlighted include meeting Arizona campus construction milestones, completing a Korea test building by year's end, investing in advanced packaging platforms and ramping an HDFO datacenter CPU program in the second quarter.
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Amkor Q1 Earnings Beat Estimates, Revenues Rise Y/Y on Broad Demand
Key Takeaways
Amkor Technology (AMKR - Free Report) reported first-quarter 2026 earnings of 33 cents per share, which beat the Zacks Consensus Estimate by 43.48%. The company reported earnings of 9 cents per share in the year-ago quarter.
Net sales of $1.68 billion surpassed the Zacks Consensus Estimate by 1.97%. The figure increased 27.5% year over year. The quarter’s performance reflected broad-based end-market strength. Sequentially, sales declined 10.8%, primarily due to seasonality in Communications and Consumer end markets.
AMKR’s Q1 Top Line & Mix
Amkor’s first-quarter 2026 revenue mix remained tilted toward higher-value work, even as overall sales stepped down sequentially. Advanced products totaled $1.37 billion, up 28.9% year over year but declining 13.2% sequentially as seasonal softness flowed through the broader top line. Mainstream products contributed $313 million, up 21.3% year over year and 1.6% sequentially, providing a steadier baseline relative to the more program-driven advanced mix.
Packaging comprised 89% of first-quarter 2026 sales, and test services accounted for 11%. Net sales from the top ten customers represented 68% in the first quarter of 2026 compared with 72% in the fourth quarter of 2025.
Amkor Technology, Inc. Price, Consensus and EPS Surprise
Amkor Technology, Inc. price-consensus-eps-surprise-chart | Amkor Technology, Inc. Quote
AMKR Q1 End Markets Details
In the first quarter, Communications revenues increased 42% year over year, supported by strong demand across premium-tier smartphones.
Computing revenues rose 19% year over year, with the company citing record AI datacenter revenues even as PCs and laptops remained soft.
Automotive and Industrial revenues advanced 28% year over year, and management highlighted record Advanced packaging revenues alongside improving mainstream demand.
Consumer revenues grew 4% year over year, driven by a broad-based improvement in demand across customers.
Margin Details
Profitability improved materially from the year-ago period. Gross profit was $239.0 million, increased 51.7% year over year, and Gross margin expanded to 14.2%, up 230 bps year over year.
Operating income reached $100.3 million, translating to a 6.0% operating margin. Operating margin expanded 360 bps on a year-over-year basis.
AMKR’s Balance Sheet & Cash Flow Details
Amkor’s liquidity remained a notable support pillar. As of March 31, 2026, total cash and short-term investments were $1.8 billion, while total debt was $1.4 billion. The company also cited liquidity of $2.9 billion and a debt-to-EBITDA ratio of 1.1x.
Amkor paid a quarterly dividend of 8 cents per share on March 31, 2026, and its board authorized the repurchase of up to $300 million of common stock on April 23.
In the reported quarter, net cash provided by operating activities was $145.1 million. The company invested $224.6 million in property, plant and equipment, and it also increased short-term investments on a net basis during the quarter, reflecting ongoing capital deployment priorities.
AMKR’s Q2 & 2026 Guidance
For the second quarter of 2026, AMKR expects net sales of $1.75 billion to $1.85 billion and a gross margin of 14.5% to 15.5%. Net income is expected to be $105 million to $130 million. Diluted EPS ranges between 42 cents and 52 cents per share.
Full-year 2026 capital expenditures are projected at approximately $2.5 billion to $3.0 billion.
Operationally, the company framed the year as a “strong start,” pointing to an expanding footprint to meet customer needs, improving utilization while monitoring material constraints and preparing for key Advanced packaging ramps. Initiatives highlighted include meeting Arizona campus construction milestones, completing a Korea test building by year's end, investing in advanced packaging platforms and ramping an HDFO datacenter CPU program in the second quarter.
AMKR’s Zacks Rank & Stocks to Consider
Amkor currently carries a Zacks Rank #3 (Hold).
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