MKS Instruments Inc Reports Second Quarter 2024 Financial Results

MKS Instruments, Inc. Reports Second Quarter 2024 Financial Results

Overview

ANDOVER, Mass., August 7, 2024 — MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of enabling technologies, reported its financial results for the second quarter of 2024.

Key Financial Metrics

Interpretation : MKS Instruments demonstrated solid financial performance in Q2 2024. Revenues reached $887 million, which is at the high end of their guidance and above the consensus estimate of $866.38 million. Adjusted EBITDA of $228 million and non-GAAP earnings per share of $1.53 exceeded the high end of their guidance, indicating strong operational efficiency and profitability.

Revenue Performance by Segment

Interpretation : The earnings report highlighted strong revenue performance in the Semiconductor and Electronics & Packaging markets.

Comments from Company Officers

John T.C. Lee, President and CEO, expressed satisfaction with the company's performance, emphasizing the strong results driven by the Semiconductor and Electronics & Packaging segments. He also highlighted the company’s ability to maintain robust gross margins and prudent cost control measures.

Dividends and Share Repurchase Program

In Q2 2024, MKS Instruments paid a cash dividend of $15 million or $0.22 per diluted share.

Forward Guidance

For the third quarter of 2024, MKS Instruments expects revenue of $870 million, plus or minus $40 million, Adjusted EBITDA of $206 million, plus or minus $23 million, and Non-GAAP net earnings per diluted share of $1.43, plus or minus $0.28.

Stock Price Movement

Following the earnings release, MKS Instruments' stock price experienced a decline of 2.73%.

Conclusion

MKS Instruments delivered impressive financial results for Q2 2024, with substantial revenue and earnings per share exceeding expectations. Moving forward, the company appears optimistic, projecting steady revenue and earnings for the next quarter.