Amkor Technology, Inc. (NASDAQ:AMKR) Q4 2022 Earnings Conference Call February 13, 2023 5:00 PM ET

Company Participants

Jennifer Jue - Head of IR

Giel Rutten - CEO

Megan Faust - CFO

Conference Call Participants

Randy Abrams - Credit Suisse

Tom Diffely - D.A. Davidson

Operator

Good day, ladies and gentlemen, and welcome to the Amkor Technology Fourth Quarter and Full Year 2022 Earnings Conference Call. My name is Diego, and I will be your conference facilitator today. At this time, all participants are in a listen-only mode. After the speakers' remarks, we will conduct the question-and-answer session. As a reminder, this conference is being recorded.

I would now like to turn the call over to Jennifer Jue, Head of Investor Relations. Ms. Jue, please go ahead.

Jennifer Jue

Thank you, operator. Good afternoon, everyone, and thank you for joining us for Amkor's fourth quarter and full year 2022 earnings conference call. Joining me today are Giel Rutten, our Chief Executive Officer; and Megan Faust, our Chief Financial Officer. Our earnings press release was filed with the SEC this afternoon and is available on the Investor Relations page of our website along with the presentation slides that accompany today's call.

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

We will make forward-looking statements about our expectations for Amkor's future performance based on the environment as we currently see it. Of course, actual results could differ. Please refer to our press release and SEC filings for information on risk factors, uncertainties and exceptions that could cause actual results to differ materially from these expectations. Please note that the financial results discussed today are preliminary, and final data will be included in our Form 10-K.

And now I would like to turn the call over to Giel.

Giel Rutten

Thank you, Jennifer. Good afternoon, everyone, and thank you for joining the call today. Following an all-time record third quarter, Amkor delivered a record fourth quarter revenue of $1.9 billion. Resilience in the automotive and industrial markets and higher-than-expected premium tier smartphone demand offset weakening demand in other markets. In the automotive and industrial markets, we set a new quarterly revenue record driven by demand for advanced packaging and infotainment systems.

2022 was another great year for Amkor, marking the third consecutive year of growing revenue by $1 billion. We delivered revenue of $7.1 billion and EPS of $3.11, setting new records for the company. Revenue from advanced packaging grew 22% for the year and accounted for 76% of our revenue. We set new records in all of our end markets by executing on our advanced packaging strategy in support of the industry mega trends of 5G, automotive, IoT and high-performance computing.