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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.
Entegris
Entegris
Entegris Revenue by Segment
Revenue by Segment
Materials Solutions Revenue
CapyFin.comAdvanced Purity Solutions Revenue
CapyFin.com 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