Financial News
Earnings To Watch: Amkor (AMKR) Reports Q3 Results Tomorrow
Semiconductor packaging and testing company Amkor Technology (NASDAQ:AMKR) will be announcing earnings results tomorrow afternoon. Here’s what investors should know.
Amkor met analysts’ revenue expectations last quarter, reporting revenues of $1.46 billion, flat year on year. It was a satisfactory quarter for the company, with a significant improvement in its gross margin but underwhelming revenue guidance for the next quarter.
Is Amkor a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Amkor’s revenue to grow 1% year on year to $1.84 billion, a reversal from the 12.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.50 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amkor has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Amkor’s peers in the semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Teradyne delivered year-on-year revenue growth of 4.8%, beating analysts’ expectations by 3%, and Lam Research reported revenues up 19.7%, topping estimates by 2.7%. Teradyne traded down 11.1% following the results while Lam Research was up 4.8%.
Read our full analysis of Teradyne’s results here and Lam Research’s results here.
Investors in the semiconductors segment have had fairly steady hands going into earnings, with share prices down 1.4% on average over the last month. Amkor is down 1.9% during the same time and is heading into earnings with an average analyst price target of $42.11 (compared to the current share price of $30.02).
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