Amkor Technology, Inc.

Good day, ladies and gentlemen, and welcome to the Amcor Technology second quarter 2026 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 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 Jue, Head of Investor Relations. Ms. Jue? Please go ahead.

Good afternoon and welcome to AMCOR's second quarter 2026 earnings conference call. Joining me today are CEO Kevin Engel 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 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. Please refer to our press release for a disclaimer on forward-looking statements and our SEC filings for a discussion on the risk factors and uncertainties that may affect our future results. I will now turn the call over to Kevin.

Thank you, Jennifer. Good afternoon, everyone. Thank you for joining. AMCOR delivered a strong quarter, achieving second quarter revenue of $1.9 billion, up 26% year on year. Revenue growth was broad-based across our business, with all end markets increasing year on year. Record revenue in computing, as well as automotive industrial markets reflects the strength of our customer engagements and the increasing value of the technologies we provide. Both advanced and mainstream revenue increased year on year, with mainstream achieving its fifth consecutive quarter of year on year growth. This continued improvement demonstrates the breadth of demand across our portfolio and strong execution by our global teams. Earnings per share was 70 cents, a significant increase from the prior year, reflecting the benefits of higher utilization. These trends contributed to stronger profitability and are beginning to demonstrate the benefits of our strategic investments. The first half of 2026 highlights the breadth of demand across our business. Revenue increased 26% year-on-year, with growth across every end market, Communications led the increase, supported by strength in the iOS ecosystem. While computing, in addition to automotive and industrial, each delivered strong double-digit growth, driven by advanced technologies and increasing semiconductor content. Consumer improved as demand continued to recover across a broad set of applications. Importantly, growth has not been limited to our advanced product portfolio. Mainstream revenue increased 21% during the first half of the year, and the overall average utilization percent improved from the 50s into the 70s across our manufacturing network. Several technology platforms are now operating at full capacity, reflecting strong demand and improved loading across the business. At Investor Day, we outlined a clear path to increasing earning power through higher utilization in a richer mix of advanced packaging technologies. The progress we achieved during the first half reflects disciplined execution against that strategy and reinforces our confidence in the long-term opportunities. Semiconductor demand remains robust, particularly in AI data center applications where packaging complexity and performance requirements continue to increase. As advanced packaging becomes increasingly strategic, customers are placing greater emphasis on manufacturing scale, technology leadership, and supply chain resiliency. Our global footprint and deep customer relationships position us well to support those evolving requirements. As demand continues to accelerate across AI and HPC applications, We are optimizing our manufacturing network to align capacity with the highest growth opportunities. This approach supports additional participation in high-value computing applications while improving the overall mix of the business over time. Now let me share an update on our strategic initiatives. I'll begin with our first pillar, enhancing strategic partnerships in key markets. As we discussed during Investor Day, advanced packaging has become increasingly critical to enabling next-generation semiconductor technologies. As packaging complexity increases, the development cycle lengthens. Customer engagements occur earlier in the design process and extend across multiple product generations. These dynamics create deeper partnerships, improve planning visibility, and enable closer alignment on technology roadmaps and capacity requirements. Recently, we announced two significant partnership agreements that demonstrate this trend. First, we announced the 10-year Advanced Packaging Agreement with TSMC. The agreement establishes a framework to expand advanced packaging and test capacity while strengthening the U.S. semiconductor supply chain. Together, We are working to provide customers with more integrated manufacturing solutions spanning advanced silicon fabrication through advanced packaging and test. By combining TSMC's leading edge wafer fabrication capabilities with ANCOR's advanced packaging and test expertise, we are helping build a more resilient semiconductor ecosystem in Arizona and enabling faster time to market for our customers. We also announced a multi-year strategic partnership with NVIDIA. This agreement focuses on advanced packaging and tests supporting next generation AI infrastructure. This collaboration aligns long-term technology roadmaps, supports expansion of advanced packaging capacity, and reinforces the important role advanced packaging plays in enabling computing platforms. While these agreements are important individually, together they demonstrate a broader industry transition. As advanced packaging moves onto the critical path of system performance, customers are seeking deeper engagement, earlier collaboration, and longer-term alignment with strategic partners. These types of partnership agreements are not unique to the U.S. supply chain, as we have several Asia-based agreements. These capacity discussions outside of the US manufacturing are building a high level of confidence in our long-term loading in our Asia facilities. Across our global footprint, customer engagements increasingly include longer planning horizons, capacity alignment discussions, and other forms of investments to help facilitate further growth. The level of long-time collaboration Invisibility we are experiencing today is meaningfully different from previous industry cycles. Beyond these announcements, we continue to strengthen relationships across the semiconductor ecosystem, including foundries, phallus companies, integrated device manufacturers, hyperscalers, and OEMs. As we help our partners achieve their technology and growth objectives, We continue to deepen relationships that create value for both parties and support durable, multi-year growth opportunities for Amcor. Our second pillar is elevating our technology leadership. Our investments in advanced packaging and test platforms position Amcor to participate in early code development activities that customers increasingly require. We continue to see growing customer engagements across our leading-edge packaging and test technologies with active programs spanning 2.5D, high-density fan-out, and emerging technologies such as co-packaged optics. These engagements extend across AI infrastructure, high-performance computing, and network applications, reinforcing our confidence in the durability and growth potential of our technology platform across our global manufacturing footprint. These high-value advanced packaging platforms are being adopted to support increasingly complex computing architectures. We are engaged in several HDFO programs this year, and our newest data center, CPU Program, began ramping in Q2 and is expected to continue scaling throughout the second half of the year. By combining advanced packaging and test capabilities through turnkey solutions, We can reduce cycle time, accelerate product ramps, and improve execution as packaging complexity increases. This integrated approach strengthens our competitive position while enabling the scalable and repeatable manufacturing requirements to support demand for next generation AI in high performance computing. Our third strategic pillar is disciplined and intentional expansion of our global footprint. This pillar is about more than just adding capacity. It's about providing customers with geographic flexibility, supply chain resiliency, and regional execution where they need it most. Phase one construction of our Arizona facility continues to progress and remains a key component of our long-term growth strategy. The facility is designed to provide high volume advanced packaging and test capabilities in the United States and support growing customer demand for regional semiconductor manufacturing. Our projections now show phase one as fully committed, and we continue to evaluate future expansion plans as part of our long-term strategy to align our capacity with our customers' operations. In Korea, construction remains on schedule for completion of a new assembly and test building on our Songdo campus by the end of the year. Planned expansion is also underway on our Gwangju campus, where we expect incremental manufacturing space will provide clean room capacity to support data center and advanced packaging growth opportunities in 2028 and beyond. To round out our expansion plans, Incremental clean room expansion and equipment installations are underway in Vietnam, Portugal, and Taiwan. In Vietnam, we are continuing to build out of our facility through a phased expansion approach as we increase SIP and man memory capacity to support communications and consumer end markets. The SIP move from Korea to Vietnam enables additional capacity for our rapidly scaling computing programs in Korea. The semiconductor industry is undergoing a structural transition as advanced packaging becomes increasingly critical to system performance and value creation. This transition is driving greater packaging complexity, deeper customer engagement, and increasing demand for regional manufacturing capabilities. Success in this environment requires scalable technology platforms, strong strategic partnerships, and geographical flexibility. Our strategy is intentionally aligned with our customer demand and industry trends. And we believe our execution against these priorities position Amcor to capture significant long-term opportunities, increase our earnings power, and create sustainable, I will now turn the call over to Megan to provide more details on our second quarter performance and near-term outlook.