Entegris Swings To Q1 Profit, But Sales Decline
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 01 2024
0mins
Source: Business Insider
Entegris, Inc. First Quarter Earnings:
- Reported a profit of $42.27 million or $0.30 per share, compared to a loss in the same quarter last year.
- Excluding one-time items, earnings were $103.77 million or $0.68 per share, beating analyst estimates.
- Sales for the quarter declined to $771.03 million from $922.4 million.
Second Quarter Outlook:
- Entegris expects earnings per share between $0.42 and $0.47, with adjusted earnings projected at $0.68 to $0.73 per share.
- Sales for the second quarter are expected to be between $790 million and $810 million.
Analysts' Expectations:
- On average, 11 analysts anticipate earnings of $0.73 per share on revenue of $813.39 million for the quarter.
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Analyst Views on ENTG
Wall Street analysts forecast ENTG stock price to fall
9 Analyst Rating
5 Buy
3 Hold
1 Sell
Moderate Buy
Current: 131.390
Low
75.00
Averages
123.14
High
150.00
Current: 131.390
Low
75.00
Averages
123.14
High
150.00
About ENTG
Entegris, Inc. is a supplier of critical advanced materials and process solutions for semiconductors and other high-technology industries. Its segments include Materials Solutions (MS) and Advanced Purity Solutions (APS). The MS segment provides materials-based solutions, such as chemical vapor and atomic layer deposition materials, chemical mechanical planarization (CMP) slurries and pads, ion implantation specialty gases, formulated etch and clean materials, and other specialty materials. The APS segment offers filtration, purification and contamination-control solutions that improve customers’ yield and device reliability by ensuring the purity of critical liquid chemistries and gases and the cleanliness of wafers and other substrates used throughout semiconductor manufacturing processes, the semiconductor ecosystem and other high-technology industries. It has manufacturing, customer service and/or research facilities in the United States, Canada, China, Germany and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Healthy Cash Flow: The company generated $144 million in free cash flow during Q1, approximately 18% of sales, providing ample funding for future debt reduction and investments, with expectations to reduce net leverage to about 3x by the end of 2026.
- Executive Transition: Entegris announced the appointment of Sukhi Nagesh as the new CFO effective May 18, a move that may pave the way for future M&A activities, although management is currently focused on deleveraging.
- Optimistic Outlook: The company guided Q2 revenue between $815 million and $845 million, with non-GAAP EPS expected to be between $0.76 and $0.84, reflecting management's confidence in future growth, particularly with improving fab spending in the semiconductor sector.
See More
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- Industry Background: With prior senior roles at GlobalFoundries and Marvell Technology, Nagesh's diverse industry background is anticipated to help Entegris maintain competitiveness in a rapidly changing market environment.
- Market Reaction: While the new CFO's appointment may positively impact the company's future financial performance, the market's overall assessment of Entegris still needs to consider its non-GAAP EPS and revenue performance.
See More
