Amkor Technology (AMKR) Q3 2025 earnings summary

Executive summary

• Q3 2025 net sales reached $1.99 billion, a 31% sequential increase and 6.7% year-over-year growth, driven by record demand in Advanced packaging and strong performance in Communications and Computing end markets.

• CEO succession announced: Kevin Engel to succeed Giel Rutten as CEO effective January 1, 2026, with continued board involvement for continuity.

• Broke ground on a new $7 billion Advanced packaging and test campus in Arizona, reinforcing commitment to U.S. semiconductor manufacturing and global supply chain expansion.

• Strategic focus remains on technology leadership, supply chain resilience, and deepening customer partnerships.

• Advanced packaging and Communications and Computing segments reached all-time high revenues.

Financial highlights

• Q3 2025 revenue was $1.99 billion, gross profit $284 million, gross margin 14.3%, operating income $159 million (8.0% margin), net income $127 million (6.4% margin), and EBITDA $340 million (17.1% margin).

• Earnings per diluted share were $0.51, up from $0.22 in Q2 2025 and $0.49–$0.50 in Q3 2024.

• Cash and short-term investments totaled $2.1 billion at quarter-end; total debt was $1.8 billion, with a debt/EBITDA ratio of 1.7x.

• Operating income margin was 8.0% in Q3 2025, unchanged year-over-year and up from 6.1% in Q2 2025.

• Free cash flow for the nine months ended September 30, 2025 was negative $13.2 million, reflecting high capital expenditures.

Outlook and guidance

• Q4 2025 revenue guidance is $1.775 billion to $1.875 billion, an 8% sequential decline but 12% year-over-year increase; gross margin expected between 14.0% and 15.0%, including a $30 million asset sale benefit.

• Net income forecasted at $95 million to $120 million, EPS $0.38–$0.48.

• 2025 capital expenditures forecast raised to approximately $950 million, with $200 million allocated to the Arizona facility.

• Liquidity is expected to be sufficient for at least the next 12 months, supported by strong cash balances and available credit facilities.

• Investor Day planned for mid-2026 to share long-term financial targets.