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Apr 01, 2023
Entegris Q1 2023 Earnings Report
Entegris reported mixed results for Q1 2023, with revenue increasing year-over-year but decreasing slightly on a proforma basis, and GAAP EPS showing a loss while non-GAAP EPS remained positive.
Key Takeaways
Entegris reported first-quarter sales of $922.4 million, a 42% increase from the same quarter last year. GAAP net loss was $88.2 million, or $0.59 loss per diluted share, while non-GAAP net income was $97.8 million, or $0.65 earnings per diluted share.
First-quarter revenue (as reported) increased 42% from prior year, reaching $922.4 million.
First-quarter revenue (proforma) decreased 3.7%.
First-quarter GAAP diluted EPS was $(0.59).
First-quarter non-GAAP diluted EPS was $0.65.
Entegris
Entegris
Forward Guidance
For the second quarter ending July 1, 2023, the Company expects sales of $870 million to $900 million, GAAP net income of $14 million to $21 million and diluted earnings per common share between $0.09 and $0.14. On a non-GAAP basis, the Company expects diluted earnings per common share to range from $0.53 to $0.58, reflecting net income on a non-GAAP basis in the range of $80 million to $87 million.
Positive Outlook
- Sales are expected to be between $870 million and $900 million.
- GAAP net income is projected to be $14 million to $21 million.
- Diluted earnings per common share are anticipated to be between $0.09 and $0.14.
- Non-GAAP diluted earnings per common share are expected to range from $0.53 to $0.58.
- EBITDA is expected to be approximately 27% to 28% of sales.