Business
Amkor Technology Reports Financial Results for the Fourth Quarter and Full Year 2024
TEMPE, Ariz.--(BUSINESS WIRE)-- Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced
About this update from Amkor Technology, Inc.
[{"type":"text","content":" TEMPE, Ariz.--(BUSINESS WIRE)--\nAmkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the fourth quarter and full year ended December 31, 2024.\n\n\nFourth Quarter 2024 Highlights:\n\n\n\nFourth quarter net sales $1.63 billion\n\n\n\nNet income $106 million, earnings per diluted share $0.43\n\n\n\nFull Year 2024 Highlights:\n\n\n\nNet sales $6.32 billion\n\n\n\nGross profit $933 million, operating income $438 million\n\n\n\nNet income $354 million, earnings per diluted share $1.43\n\n\n\nEBITDA $1.09 billion\n\n\n\nNet cash from operations $1.09 billion, free cash flow $359 million\n\n\n\n“In 2024, weakness in the automotive and industrial and communications end markets contributed to a full year decline. In contrast, we achieved record revenue in our computing end market with growth in ARM-based PCs and AI devices,” said Giel Rutten, Amkor’s president and chief executive officer. “During the year, we also successfully ramped our new facility in Vietnam, secured CHIPS funding to bolster U.S. manufacturing, and set a new record for Advanced SiP revenue. We remain confident in our long-term strategy and continue to invest in technology for advanced packaging and our broad geographic footprint with a focus on industry megatrends.”\n\n\nFinancial Results\n\n\n\n\n($ in millions, except per share data)\n\n\n\n\n\n\nQ4 2024\n\n\n\n\n\n\nQ3 2024\n\n\n\n\n\n\nQ4 2023\n\n\n\n\n\n\n2024\n\n\n\n\n\n\n2023\n\n\n\n\n\n\n\n\nNet sales\n\n\n\n\n\n\n$1,629\n\n\n\n\n\n\n$1,862\n\n\n\n\n\n\n$1,752\n\n\n\n\n\n\n$6,318\n\n\n\n\n\n\n$6,503\n\n\n\n\n\n\n\n\nGross margin\n\n\n\n\n\n\n15.1%\n\n\n\n\n\n\n14.6%\n\n\n\n\n\n\n15.9%\n\n\n\n\n\n\n14.8%\n\n\n\n\n\n\n14.5%\n\n\n\n\n\n\n\n\nOperating income\n\n\n\n\n\n\n$134\n\n\n\n\n\n\n$149\n\n\n\n\n\n\n$159\n\n\n\n\n\n\n$438\n\n\n\n\n\n\n$470\n\n\n\n\n\n\n\n\nOperating income margin\n\n\n\n\n\n\n8.3%\n\n\n\n\n\n\n8.0%\n\n\n\n\n\n\n9.1%\n\n\n\n\n\n\n6.9%\n\n\n\n\n\n\n7.2%\n\n\n\n\n\n\n\n\nNet income attributable to Amkor\n\n\n\n\n\n\n$106\n\n\n\n\n\n\n$123\n\n\n\n\n\n\n$118\n\n\n\n\n\n\n$354\n\n\n\n\n\n\n$360\n\n\n\n\n\n\n\n\nEarnings per diluted share\n\n\n\n\n\n\n$0.43\n\n\n\n\n\n\n$0.49\n\n\n\n\n\n\n$0.48\n\n\n\n\n\n\n$1.43\n\n\n\n\n\n\n$1.46\n\n\n\n\n\n\n\n\nEBITDA (1)\n\n\n\n\n\n\n$302\n\n\n\n\n\n\n$309\n\n\n\n\n\n\...