ASE Technology Holding Co earnings date
ASE Technology Holding Co (ASEHN) Q3 2026 Earnings Report
MX:ASEHN Q3 2026 EPS Results
- Actual EPS
- MXN 6.66
- Consensus EPS
- MXN 6.16
- Beat/Miss
- Beat by +MXN 0.50
- One Year Ago EPS
- MXN 2.92
MX:ASEHN Q3 2026 Revenue Results
- Actual Revenue
- MXN 141.88B
- Expected Revenue
- MXN 135.77B
- Beat/Miss
- Beat by +MXN 6.11B
- YoY Revenue Growth
- +35.40%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- Before Open
- Conference Call
- Thursday, October 29, 2026
ASE Technology Holding Co's next earnings date is estimated for February 11, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive overall. Record consolidated and ATM results, substantial year-over-year profit and margin expansion, near-full utilization, raised LEAP expectations, strong full-process and CPO ramps, and favorable fourth-quarter and 2027 outlooks significantly outweighed the stated challenges. The main negatives were capacity and facility constraints, higher debt and investment-related cash needs, EMS component-cost pressure, and softness in cell phone and PC demand.
For Q4 2026, based on an exchange rate assumption of USD 1 to TWD 31.9, consolidated revenue should grow by 6% to 8% quarter-over-quarter, consolidated gross margin should be between 23% to 24%, and consolidated operating margin should be between 14.5% to 15.5%; ATM revenue should grow by 11% to 13% quarter-over-quarter and ATM gross margin should increase by 100 to 200 basis points quarter-over-quarter, while EMS revenue should be flattish quarter-over-quarter with operating margin around 2%. Full year effective tax rate is expected to be between 16% to 17%; 2026 LEAP revenue is expected to be over USD 4 billion versus originally USD 3.7 billion, 2027 LEAP revenue is expected to double, 2026 full process revenue remains USD 300 million and next year is expected to be over USD 1 billion, and CPO revenue is expected to be over USD 0.5 billion next year with mass production continuing into 2027. CapEx for 2026 is increasing from USD 10.5 billion to USD 11.5 billion, next year’s CapEx will be even larger than this year, and next year is expected to have negative cash flow; gross margin is expected to continue sequential improvement on a quarterly basis from the base of 30% next year, general market business is expected to have more than 20% growth in 2026 and that is expected to happen again next year, and EMS is expected to continue to see some growth going into 2027, with high-performance computing representing roughly mid-teens of overall EMS revenue.
- Record Consolidated Revenue and Strong Profit GrowthQ3 consolidated net revenue reached a record TWD 244.2 billion, up 28% sequentially and 45% year-over-year. Net income was TWD 27 billion, up 28% sequentially and 148% year-over-year. Fully diluted EPS was TWD 5.84 and basic EPS was TWD 6.13.
- Significant Gross and Operating Margin ExpansionGross profit was TWD 54 billion with a 22.1% gross margin, up 1.1 percentage points sequentially and 5 percentage points year-over-year. Operating profit was TWD 33.1 billion, up 57% quarter-over-quarter and 151% year-over-year, while operating margin was 13.6%, expanding 2.5 percentage points sequentially and 5.8 percentage points annually.
- ATM Capacity at Near-Full UtilizationATM capacities ran at or near full utilization rates, with demand continuing to outpace the company's ability to supply services within LEAP and much of its non-LEAP capacities. Revenue growth exceeded initial expectations, driven primarily by faster-than-expected installations of high-demand LEAP capacities.
- Record ATM Revenue and ProfitabilityATM revenue reached a record TWD 151.5 billion, up 20% sequentially and 51% annually. ATM gross profit was TWD 46.4 billion, up TWD 11.9 billion sequentially and TWD 23.7 billion year-over-year. ATM operating profit was TWD 30.2 billion, up 53% sequentially and 178% annually, with a 20% operating margin, up 4.3 percentage points sequentially and 9.2 percentage points year-over-year.
- LEAP Mix Drove ATM Margin ImprovementATM gross margin was 30.6%, up 3.3 percentage points sequentially and 8 percentage points annually, driven by higher operating leverage and a more favorable revenue mix, particularly a higher mix of LEAP. Management said the historical structural margin ceiling has become dynamic rather than fixed as LEAP continues to grow.
- LEAP Revenue Outlook Raised for 2026 and 2027Management raised 2026 LEAP revenue expectations from the previously stated USD 3.7 billion to over USD 4 billion. For 2027, management expects LEAP revenue to double from the prior projection.
- Strong Computing Application GrowthATM computing application revenue grew 39%, with a large amount of LEAP services coming from computing. Automotive, industrial and consumer applications each grew by about 14%, while communications grew 8%. Management expects computing applications to lead growth into 2027 and 2028.
- Assembly and Test Demand Remains RobustDemand for test services continues to be robust, while assembly growth has been stronger than expected, especially in traditional businesses. Management expects assembly and test businesses to grow at similar rates during the year, although assembly growth is expected to outpace test next year because of resource constraints.
- EMS Revenue Growth and Sequential Profit ImprovementEMS revenue grew 42% sequentially and 35% annually to TWD 93.5 billion. EMS operating profit was TWD 3.1 billion, up TWD 1.5 billion sequentially and TWD 0.6 billion annually. EMS operating margin improved 0.9 percentage points sequentially to 3.3%.
- EMS Expansion in HPC, Optical and AI-Related ProductsManagement expects continued EMS growth into 2027, with a main focus on high-performance computing. HPC represented roughly the mid-teens of overall EMS revenue and was ramping rapidly. EMS is also moving into optical, silicon photonics, power-related devices and AI-related business.
- Full-Process Revenue RampFull-process revenue is on track for USD 300 million in 2026, with yield at a level that supports mass production and major shipments. Management expects over USD 1 billion of full-process revenue next year.
- CPO Mass Production and Revenue OpportunityCPO mass production started in the fourth quarter and is expected to continue into 2027. Management projects more than USD 0.5 billion of CPO revenue next year and said CPO and NPO will coexist. ASE also expects to be a major player in MPO if real demand develops.
- Positive General-Market Growth OutlookManagement expects more than 20% growth in general-market business this year and expects strong growth again next year. Softness in cell phones and PCs was more than compensated by recovery in automotive and industrial markets and demand for AI-adjacent chips.
- Strong Fourth-Quarter GuidanceQ4 consolidated revenue is expected to grow 6% to 8% quarter-over-quarter, with gross margin between 23% to 24% and operating margin between 14.5% to 15.5%. ATM revenue is expected to grow 11% to 13% quarter-over-quarter, with ATM gross margin increasing by 100 to 200 basis points. EMS revenue is expected to be flattish quarter-over-quarter, with operating margin around 2%.
- Large Capacity Expansion ProgramYear-to-date CapEx was USD 8 billion, including USD 4.8 billion for equipment and USD 3.2 billion for facilities. ASE has 22 ongoing building projects in Taiwan, and more than half are expected to start supporting some level of revenue from now through 2027.
- 2026 CapEx Increased to USD 11.5 BillionManagement increased full-year 2026 CapEx from USD 10.5 billion to USD 11.5 billion. Of the additional USD 1 billion, half will be allocated to facilities and half to equipment; 60% of the equipment portion will be for LEAP and 40% for mainstream businesses.
- Further Investment Planned for 2027Management expects next year's CapEx spending to be even larger than this year's and said it will continue making necessary R&D and capacity investments to support expansion. The company cited strong demand and a willingness to invest to pursue available business.
- Healthy Liquidity and Credit AvailabilityAt quarter-end, cash, cash equivalents and current financial assets totaled TWD 107.9 billion. Total unused credit lines amounted to TWD 457.3 billion, and quarterly EBITDA was TWD 58 billion.
- ATM Increasing Contribution to Company ProfitabilityATM represented 62% of consolidated holding company revenue and 91% of operating profit in Q3 2026, compared with 59% of revenue and 82% of operating profit in Q3 2025. Management expects ATM to continue increasing as a percentage of overall business and profitability.
- Potential ATM and EMS System-Level SynergiesThe company continues to pursue synergies between ATM and EMS to co-develop system-level solutions by integrating EMS competencies with ATM technologies and applying co-engineering disciplines used to scale SiP architecture.
MX:ASEHN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 11, 2027 | 2026 (Q4) | 7.89- | 3.81 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | 6.166.66 | 2.92 | 128.03% (+3.74) | |
| Jul 30, 2026 | 2026 (Q2) | 4.455.28 | 2.12 | 149.12% (+3.16) | |
| Apr 29, 2026 | 2026 (Q1) | 3.163.63 | 2.03 | 78.90% (+1.60) | |
| Feb 05, 2026 | 2025 (Q4) | 3.333.81 | 2.44 | 56.49% (+1.38) | |
| Oct 30, 2025 | 2025 (Q3) | 2.572.92 | 2.51 | 16.30% (+0.41) | |
| Jul 31, 2025 | 2025 (Q2) | 2.662.12 | 1.99 | 6.54% (+0.13) | |
| Apr 30, 2025 | 2025 (Q1) | 2.012.03 | 1.47 | 37.97% (+0.56) | |
| Feb 13, 2025 | 2024 (Q4) | 2.362.44 | 2.53 | -3.68% (-0.09) | |
| Oct 31, 2024 | 2024 (Q3) | 2.402.51 | 2.29 | 9.76% (+0.22) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
