Amkor Technology, Inc.

Good day, ladies and gentlemen, and welcome to the Amcor Technology Third Quarter 2025 Earnings 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 speaker's 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 Ju, Head of Investor Relations. Ms. Ju, please go ahead.

Good afternoon, and welcome to AMCOR's third quarter 2025 earnings conference call. Joining me today are CEO, Gil Roten, and CFO, Megan Faust. 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 comparable GAAP financial measures in the slides. We will make forward-looking statements today based on our current beliefs, assumptions, and expectations. Such statements are subject to risks and uncertainties that may cause actual results to differ materially. Please refer to our press release and SEC filings for a discussion on the risk factors and uncertainties that may affect our future results. We assume no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this presentation, except as may be required by applicable law. With that, I will now turn the call over to Heal.

Thank you, Jennifer. Good afternoon, everyone, and thank you for joining the call today. I'd like to begin today on a personal note and to share that I have decided to retire from MCOR at the end of 2025. It has been an honor and privilege to be president and CEO of MCOR for over five years, and I'm excited to see what the future holds. I will remain on the board of directors to provide continuity and to support our long-term strategy. I would like to congratulate Kevin Engel as my successor and will support this transition over the next couple of months. Kevin has been with Emcor for over 20 years and brings deep experience that will benefit the company during this next growth phase. You'll hear more from Kevin at upcoming investor events and on the next earnings call. With that, I will now provide updates on the quarter. Emcor delivered a strong third quarter with revenue of $1.99 billion and EPS of 51 cents, both exceeding the high end of our guidance. Revenue increased 31% sequentially, driven by robust demand for advanced packaging. We executed steep production ramps and achieved record revenue in both the communications and computing end markets demonstrating our ability to scale quickly and support our customers' product launch cycles. Communications revenue increased 67% sequentially and 5% year-on-year, driven by the latest iOS product ramp and a 17% year-on-year growth in Android. We expect Q4 to decline sequentially with some slowdown in iOS partially offset by continued strength in Androids. On a year-on-year basis, communication is expected to be up more than 20% in the fourth quarter. As AI expands into edge devices, we are collaborating closely with customers on next-generation products, and we are confident these will drive future demand for advanced packaging. Computing revenue increased 12% sequentially and 23% year-on-year. We anticipate modest sequential decline in Q4 on product mix changes, but expect continued year-on-year growth. Our high-density fan-out technology is ramping as expected, with another product moving into production in Q4. Our long-term computing outlook remains robust, as innovation in AI and high-performance computing fuels investments across data centers, infrastructure, and personal computing areas where MCOR has a strong customer pipeline. Automotive and industrial revenue increased 5% sequentially and 9% year-on-year, driven by growth in advanced products for ADAS applications, together with improvements in our mainstream portfolio. Fourth quarter revenue is expected to be stable sequentially and grow around 20% year-on-year, supported by broad-based customer demands. Consumer revenue increased 5% sequentially but was down 5% year-on-year, reflecting the product lifecycle of a wearable product introduced in the second half of last year. We expect a further decrease of this product in Q4 and anticipate a slight decline in traditional consumer applications. Year-on-year, consumer is expected to be down mid-teens percent. Overall, our fourth quarter guidance reflects positive trends of returning to a more normal seasonal pattern and for continued year-on-year growth in both our advanced and mainstream portfolio. Now let me share an update on our strategic initiatives. The semiconductor industry is rapidly evolving as accelerated AI proliferation drives market expansion, technology transitions, and increased requirements for a resilient manufacturing base. Within this dynamic landscape, Emco remains focused on its three strategic pillars, investing in our technology leadership, building supply chain resilience in our manufacturing footprint, and deepening partnerships with lead customers. Earlier this month, we marked a major milestone with the groundbreaking of our new Advanced Packaging and Test Campus in Arizona, Working closely with our foundry partner, this campus will be a cornerstone of U.S. semiconductor manufacturing, delivering a full turnkey supply chain with advanced packaging and test capabilities to leading customers in the industry. The Arizona investment represents a bold step forward in our strategic journey. We've increased the total projected investment to $7 billion reflecting additional clean room space and a second facility. Once complete, the campus will include 750,000 square feet of clean room space and create up to 3,000 high-quality jobs. Construction of phase one is expected to be completed in mid-2027, with production beginning in early 2028. The Arizona campus will feature smart factory technologies, and scalable production lines to meet evolving market demands for AI, high-performance computing, mobile communication, and advanced automotive applications. It will focus on advanced packaging and testing technologies and will complement domestic foundry manufacturing, enable a full end-to-end semiconductor supply chain in the US. Our expanding geographic footprint with facilities in Asia, Europe, and now the U.S., distinguishes mCore in the OSAT industry. It allows us to partner more closely with customers and deliver innovative packaging and test solutions aligned with their technology roadmap needs. In summary, mCore delivered a strong quarter, advanced our strategic initiatives, and remains well-positioned for long-term growth. With that, I will now turn the call over to Megan to provide more details on our third quarter performance and near-term outlook.