Amkor Technology, Inc. (NASDAQ:AMKR) Q2 2022 Earnings Conference Call August 1, 2022 5:00 PM ET

Company Participants

Jennifer Jue - Senior Director, Investor Relations and Finance

Giel Rutten - President and Chief Executive Officer

Megan Faust - Executive Vice President, Chief Financial Officer, and Treasurer

Conference Call Participants

Randy Abrams - Credit Suisse

Thomas Diffely - D.A. Davidson

Charles Shi - Needham and Company

Operator

Good day, ladies and gentlemen, and welcome to the Amkor Technology Second Quarter 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 a 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 second quarter 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 other 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-Q.

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

Giel Rutten

Thanks Jennifer. Good afternoon, everyone. And thank you for joining the call today. Amkor delivered record second quarter revenue of $1.5 billion and EPS of $0.51. Demand for advanced packaging remained strong and drove our revenue in the automotive and industrial market to 16% year-on-year growth and then new records.

Revenue increased 14% year-on-year in the first half, and advanced packaging grew 18%, despite the COVID-19 lockdown in our Shanghai factory. While the industry is facing market economic headwinds and market forecasts have weakened at some areas, we continue to see robust demand for our services, notably for advanced packaging. Amkor strategic focus and leadership position in advanced packaging enable us to leverage the growth catalyst in 5G premium smartphones, automotive electronics, high performance computing, and IoT.