Asm Pacific Technology Stock Earnings Reports

ASMPT reported strong Q2 and H1 2026 results driven by AI demand across SMT (board assembly) and SEMI (advanced packaging and photonics). H1 revenue was USD 1.14 billion (up 18.9% H/H, 42.5% Y/Y) and bookings reached USD 1.63 billion (up 68.1% H/H, 85.1% Y/Y) with a book-to-bill of 1.43 (highest since H1 2021). Gross margins improved (group adjusted gross margin 41.2% in H1; Q2 adjusted margin 42.5%), with both SEMI and SMT benefiting from higher volumes and favorable product mix. Advanced packaging (AP) remains a core growth engine—TCB, high-precision SMT for photonics, and hybrid/TCB solutions are highlighted; management expects TCB TAM to expand beyond USD 1.6bn by 2028. Photonics (pluggable transceivers and nascent CPO) showed rapid growth (pluggable revenue almost tripled to ~USD 75m in H1); CPO adoption is expected to accelerate 2027–2028 and ASMPT positions itself across multiple critical assembly steps. SMT bookings hit record highs driven by AI server demand and iFlex/i4 solutions. Management provided Q3 2026 revenue guidance of USD 630–690 million (midpoint +4.8% Q/Q, +46.3% Y/Y), and expects booking growth to continue (high-single-digit sequentially). Supply-chain/material lead times and longer order-to-billing conversion (estimated ~6–9 months for some AP products) could moderate conversion timing. Board recommended interim dividend HKD 0.97 per share (consistent ~50% payout policy). CEO Robin Ng announced his planned retirement on 11 Aug 2026 and reiterated confidence in the company’s AI-driven opportunity and successor leadership.