Entegris Q2 2023 Earnings Report
Key Takeaways
Entegris reported second-quarter sales of $901.0 million, a 30% increase from the same quarter last year. GAAP net income was $197.6 million, or $1.31 income per diluted share, while non-GAAP net income was $99.6 million, or $0.66 per diluted share. The company is on track to achieve its $75 million run-rate cost synergy target by the fourth quarter.
Second-quarter revenue (as reported) of $901 million, increased 30% from prior year
Second-quarter revenue (proforma), decreased 11% from prior year
Second-quarter GAAP diluted EPS of $1.31
Second-quarter non-GAAP diluted EPS of $0.66
Entegris
Entegris
Entegris Revenue by Segment
Forward Guidance
For the third quarter ending September 30, 2023, the Company expects sales of $875 million to $900 million, GAAP net income of $34 million to $42 million and diluted earnings per common share between $0.23 and $0.28. On a non-GAAP basis, the Company expects diluted earnings per common share to range from $0.57 to $0.62, reflecting net income on a non-GAAP basis in the range of $86 million to $94 million. The Company also expects EBITDA of approximately 26% to 27% of sales, for the third quarter of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income