ASE Technology Holding Co., Ltd. (ASX) Earnings
ASE Technology Holding Co., Ltd. is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $0.24. ASX has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise +3.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $0.17 | $0.20 | +17.4% | $5.5B | +3.5% |
| Feb 5, 2026 | $0.20 | $0.21 | +5.0% | $5.7B | +5.1% |
| Oct 30, 2025 | $0.14 | $0.16 | +16.3% | $5.6B | +3.4% |
| Jul 31, 2025 | $0.14 | $0.11 | -23.2% | $5.2B | +8.4% |
| Apr 30, 2025 | $0.11 | $0.10 | -7.1% | $4.5B | +1.9% |
| Feb 13, 2025 | $0.13 | $0.13 | +2.5% | $4.9B | +0.1% |
| Oct 31, 2024 | $0.13 | $0.13 | +0.8% | $5.0B | +2.1% |
| Jul 25, 2024 | $0.10 | $0.11 | +13.3% | $4.3B | +2.3% |
| Apr 25, 2024 | $0.10 | $0.08 | -20.0% | $4.1B | -1.1% |
| Feb 1, 2024 | $0.12 | $0.13 | +8.3% | $5.2B | +4.1% |
| Oct 26, 2023 | $0.13 | $0.13 | +0.5% | $4.8B | -3.0% |
| Jul 27, 2023 | $0.10 | $0.12 | +24.2% | $4.4B | +0.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 29, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Business resilience: EMS had seasonality but ATM services demand didn't slow, LEAP services and traditional advanced packaging were strong. - Factory utilization: Blended factory utilization rate around 80%, but installation of LEAP capacities and consolidation of traditional capacities affected utilization. - Customer preference: Customers prefer manufacturing certainty, and uncertainties at key manufacturing points create supply chain risk. - ATM business: Revenue ahead of expectations, profitability improved but affected by Lunar New Year costs. - EMS business: Slowed due to product seasonality, gross margin and operating margin affected by product mix.
Guidance
- Second quarter consolidated revenue expected to grow 7%-9% sequentially. Consolidated gross margin to increase 20-100 basis points sequentially, operating margin to increase 50-120 basis points sequentially. - ATM second quarter revenue expected to grow 9%-11% sequentially, gross margin between 26%-27%. - EMS second quarter revenue to grow at least 10% year-over-year, operating margin similar to second quarter 2025. - Full year ATM LEAP services revenue expected 10% above prior guidance, reaching over US$3.5 billion. 2027 LEAP business expected stronger incremental growth. ATM gross margin to improve sequentially in second half, reaching upper end of structural gross margin range in second half.
Segment performance
For the first quarter, consolidated net revenues were NT$173.7 billion, a 17% year-over-year increase and a 2% sequential decrease. On a U.S. dollar basis, sales decreased 4% sequentially and increased 22% year-over-year. ATM revenues for the first quarter of 2026 were NT$112.4 billion, up 2% sequentially and 30% annually, representing 65% of consolidated holding company revenue and 91% of operating profit. ATM gross profit was NT$29.2 billion, with a gross profit margin of 26%. EMS revenues were NT$61.9 billion, down 10% sequentially and 1% annually. EMS gross margin increased 0.5 percentage points sequentially to 9.5%.
Risks & headwinds
- Uncertainties at key manufacturing points lead to customers perceiving supply chain risk. - Capacities finite with limited ability to be pulled forward. - Utilization fluctuation due to installation of LEAP capacities and consolidation of traditional capacities. - Higher running costs during Lunar New Year holidays.
Analyst Q&A
Q: On LEAP, reason for 10% upside in 2026 and growth in 2027?
A: Stronger than anticipated demand, especially in LEAP part, and preparing for next year's Rambam, with 75% in assembly and 25% in tests for LEAP this year.
Q: On CPO, role of ASE and timeline of revenue contribution?
A: Working closely with upstream foundry and customer, no specific number yet, start with packaging part.
Q: On KPACs capital intensity?
A: Still in mega trend, making necessary investments, multiple cost-effective funding sources available.
Q: On non-AI semi demand?
A: PC and cell phone market softness continues but offset by AI peripheral chips, automotive and industrial segments recovering.
Q: On CAPEX and funding?
A: CapEx raised, funding gap for this year mostly by additional borrowing, likely to keep spending on CapEx into next year.