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What's in the Offing for Amkor (AMKR) This Earnings Season?
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Amkor Technology, Inc. (AMKR - Free Report) , the world's largest independent provider of semiconductor packaging and test services, is scheduled to report second-quarter 2024 results on Jul 29 after market close.
Amkor forecasts revenues between $1.4 billion and $1.5 billion for the second quarter. The Zacks Consensus Estimate for revenues is pegged at $1.45 billion, which is marginally lower than the year-ago quarter’s revenues of $1.46 billion.
Amkor expects second-quarter earnings in the range of 14-30 per share. The consensus mark for EPS is pegged at 22 cents, revised downward by a penny over the past 30 days. The figure indicates a 15.4% decline from the year-ago quarter’s earnings of 26 cents per share.
Amkor’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 44.3%.
Let’s see how things have shaped up before the announcement.
Amkor’s second-quarter performance is likely to have benefited from production ramps for new products, including advanced SAP technology and 2.5D technology. The growing demand for Internet of Things (IoT) wearables, along with production ramps of new products by vendors utilizing SAP technology, is anticipated to have driven the Consumer end market’s sales in the to-be-reported quarter.
Artificial intelligence (AI)-enabled new product introductions by PC vendors are likely to have driven demand for the company’s 2.5D advanced packaging technology. This trend is likely to have boosted Amkor’s revenues from the Computing end market.
The improvement in demand within the Android supply chain and NAND memory, coupled with increasing sales of smartphones, is expected to have driven Amkor’s Communications business segment sales. The introduction of AI into edge devices like smartphones is expected to have driven increased demand for advanced packaging solutions, where Amkor holds a strong position.
Nonetheless, the continued dismal performance across the Automotive and Industrial market is likely to have more than offset the benefits of revenue growth across other end markets. Performance in the Automotive and Industrial business segment is likely to have been negatively impacted by inventory control measures by customers. In the first quarter, Amkor registered a 22% decline in revenues from the Automotive and Industrial end market.
Additionally, Amkor’s bottom-line performance is anticipated to have been hurt by increased operating expenses. The company expects second-quarter operating expenses to be approximately $135 million, up 22% from the year-ago quarter’s $110.5 million, primarily due to costs associated with bringing the new Vietnam factory online.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Amkor this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Though Amkor carries a Zacks Rank #3, it has an Earnings ESP of -1.49%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, PayPal (PYPL - Free Report) , Arista Networks (ANET - Free Report) and Corning (GLW - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
The company is slated to report second-quarter 2024 results on Jul 30. Its earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while matching on one occasion, with the average surprise being 8%.
The Zacks Consensus Estimate for PayPal’s second-quarter earnings stands at 96 cents per share, down 17.2% from the year-ago quarter. It is estimated to report revenues of $7.78 billion, which suggests an increase of 6.8% from the year-ago quarter.
Arista Networks sports a Zacks Rank #1 and has an Earnings ESP of +1.72%. The company is scheduled to report second-quarter 2024 results on Jul 30. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 15.4%.
The Zacks Consensus Estimate for Arista Networks’ second-quarter earnings is pegged at $1.94 per share, which indicates a year-over-year increase of 22.8%. The consensus mark for revenues stands at $1.64 billion, which calls for a year-over-year jump of 12.4%.
Corning is slated to report second-quarter 2024 results on Jul 30. The company sports a Zacks Rank #1 and an Earnings ESP of +1.59% at present. Corning’s earnings beat the Zacks Consensus Estimate once in trailing four quarters while missing the same on two occasions and matching one time, the average surprise being 0.2%.
The Zacks Consensus Estimate for second-quarter earnings is pegged at 46 cents per share, which suggests an increase of 2.2% from the year-ago quarter’s earnings of 45 cents. Corning’s quarterly revenues are estimated to improve 0.3% year over year to $3.49 billion.
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What's in the Offing for Amkor (AMKR) This Earnings Season?
Amkor Technology, Inc. (AMKR - Free Report) , the world's largest independent provider of semiconductor packaging and test services, is scheduled to report second-quarter 2024 results on Jul 29 after market close.
Amkor forecasts revenues between $1.4 billion and $1.5 billion for the second quarter. The Zacks Consensus Estimate for revenues is pegged at $1.45 billion, which is marginally lower than the year-ago quarter’s revenues of $1.46 billion.
Amkor expects second-quarter earnings in the range of 14-30 per share. The consensus mark for EPS is pegged at 22 cents, revised downward by a penny over the past 30 days. The figure indicates a 15.4% decline from the year-ago quarter’s earnings of 26 cents per share.
Amkor’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 44.3%.
Let’s see how things have shaped up before the announcement.
Amkor Technology, Inc. Price and EPS Surprise
Amkor Technology, Inc. price-eps-surprise | Amkor Technology, Inc. Quote
Factors to Consider
Amkor’s second-quarter performance is likely to have benefited from production ramps for new products, including advanced SAP technology and 2.5D technology. The growing demand for Internet of Things (IoT) wearables, along with production ramps of new products by vendors utilizing SAP technology, is anticipated to have driven the Consumer end market’s sales in the to-be-reported quarter.
Artificial intelligence (AI)-enabled new product introductions by PC vendors are likely to have driven demand for the company’s 2.5D advanced packaging technology. This trend is likely to have boosted Amkor’s revenues from the Computing end market.
The improvement in demand within the Android supply chain and NAND memory, coupled with increasing sales of smartphones, is expected to have driven Amkor’s Communications business segment sales. The introduction of AI into edge devices like smartphones is expected to have driven increased demand for advanced packaging solutions, where Amkor holds a strong position.
Nonetheless, the continued dismal performance across the Automotive and Industrial market is likely to have more than offset the benefits of revenue growth across other end markets. Performance in the Automotive and Industrial business segment is likely to have been negatively impacted by inventory control measures by customers. In the first quarter, Amkor registered a 22% decline in revenues from the Automotive and Industrial end market.
Additionally, Amkor’s bottom-line performance is anticipated to have been hurt by increased operating expenses. The company expects second-quarter operating expenses to be approximately $135 million, up 22% from the year-ago quarter’s $110.5 million, primarily due to costs associated with bringing the new Vietnam factory online.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Amkor this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Though Amkor carries a Zacks Rank #3, it has an Earnings ESP of -1.49%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, PayPal (PYPL - Free Report) , Arista Networks (ANET - Free Report) and Corning (GLW - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
PayPal sports a Zacks Rank #1 and has an Earnings ESP of +2.96%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is slated to report second-quarter 2024 results on Jul 30. Its earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while matching on one occasion, with the average surprise being 8%.
The Zacks Consensus Estimate for PayPal’s second-quarter earnings stands at 96 cents per share, down 17.2% from the year-ago quarter. It is estimated to report revenues of $7.78 billion, which suggests an increase of 6.8% from the year-ago quarter.
Arista Networks sports a Zacks Rank #1 and has an Earnings ESP of +1.72%. The company is scheduled to report second-quarter 2024 results on Jul 30. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 15.4%.
The Zacks Consensus Estimate for Arista Networks’ second-quarter earnings is pegged at $1.94 per share, which indicates a year-over-year increase of 22.8%. The consensus mark for revenues stands at $1.64 billion, which calls for a year-over-year jump of 12.4%.
Corning is slated to report second-quarter 2024 results on Jul 30. The company sports a Zacks Rank #1 and an Earnings ESP of +1.59% at present. Corning’s earnings beat the Zacks Consensus Estimate once in trailing four quarters while missing the same on two occasions and matching one time, the average surprise being 0.2%.
The Zacks Consensus Estimate for second-quarter earnings is pegged at 46 cents per share, which suggests an increase of 2.2% from the year-ago quarter’s earnings of 45 cents. Corning’s quarterly revenues are estimated to improve 0.3% year over year to $3.49 billion.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.