Amkor beats by $0.08, beats on revs; guides Q4 EPS in-line, revs in-line
+1.25%
Reports Q3 (Sep) earnings of $0.51 per share, excluding non-recurring items, $0.08 better than the FactSet Consensus of $0.43; revenues rose 6.7% year/year to $1.99 bln vs the $1.93 bln FactSet Consensus. Co issues in-line guidance for Q4, sees EPS of $0.38-0.48, excluding non-recurring items, vs. $0.42 FactSet Consensus; sees Q4 revs of $1.775-1.875 bln vs. $1.86 bln FactSet Consensus.The company also announced that Mr. Rutten has informed the Board of Directors of his intention to retire as president and chief executive officer at the end of 2025. He will remain a member of the company's Board of Directors. "Giel has been instrumental in focusing Amkor's strategy on leadership in Advanced packaging and orienting the company towards high growth markets, including high performance computing and AI," said Susan Kim, the company's Chairman of the Board. "Giel has been a highly effective CEO and has positioned the company for significant long-term growth. We thank him for his dedicated work and are pleased that he will continue as member of the Board."Following its succession planning process, the company's Board of Directors announced that it has appointed Mr. Kevin Engel, chief operating officer, to succeed Mr. Rutten as president and chief executive officer, effective January 1, 2026, and that Mr. Engel will join the Board at that time. Mr. Rutten and Mr. Engel will work together on executing a smooth leadership transition. "Kevin is an industry veteran with more than twenty years of experience with Amkor. He is uniquely qualified to lead the company when Giel retires and to continue the company's close collaboration with leading semiconductor companies," said Ms. Kim. |
