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Jun 29, 2024
Entegris Q2 2024 Earnings Report
Entegris reported a strong performance with sales increasing sequentially across all divisions.
Key Takeaways
Entegris reported net sales of $813 million for Q2 2024, a 5% increase sequentially. GAAP diluted EPS was $0.45, and non-GAAP diluted EPS was $0.71. The company expects a gradual recovery in the semiconductor market in the second half of the year and anticipates strong growth acceleration into 2025.
Net sales (as reported) of $813 million, decreased 10% from prior year and increased 5% sequentially.
Adjusted net sales (excluding the impact of divestitures) increased 6% from prior year and 10% sequentially.
GAAP diluted EPS was $0.45.
Non-GAAP diluted EPS was $0.71.
Revenue by Segment
Forward Guidance
For the third quarter ending September 28, 2024, Entegris expects sales of $820 million to $840 million. GAAP net income is projected to be $78 million to $85 million, with diluted earnings per common share between $0.51 and $0.56. Non-GAAP diluted earnings per common share are expected to range from $0.75 to $0.80, reflecting net income on a non-GAAP basis in the range of $114 million to $121 million. Adjusted EBITDA is anticipated to be approximately 28.5% to 29.5% of sales.
Positive Outlook
- Sales of $820 million to $840 million are expected.
- GAAP net income of $78 million to $85 million is expected.
- Diluted earnings per common share is expected to be between $0.51 and $0.56.
- Non-GAAP diluted earnings per common share to range from $0.75 to $0.80 is expected.
- Adjusted EBITDA of approximately 28.5% to 29.5% of sales is expected.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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