Entegris Q3 2023 Earnings Report
Key Takeaways
Entegris reported third-quarter revenue of $888 million, a decrease of 11% from the prior year and 1% sequentially. GAAP diluted EPS was $0.22, and non-GAAP diluted EPS was $0.68. The company is managing costs effectively while making critical investments for the future.
Third-quarter revenue was $888 million, down 11% year-over-year and 1% sequentially.
GAAP diluted EPS for the third quarter was $0.22.
Non-GAAP diluted EPS for the third quarter was $0.68.
The company has submitted an application for Chips Act funding for its new Colorado Springs facility.
Entegris
Entegris
Forward Guidance
For the fourth quarter ending December 31, 2023, the Company expects sales of $770 million to $790 million, GAAP net income of $37 million to $45 million and diluted earnings per common share between $0.25 and $0.30. On a non-GAAP basis, the Company expects diluted earnings per common share to range from $0.55 to $0.60, reflecting net income on a non-GAAP basis in the range of $83 million to $91 million. The Company also expects EBITDA of approximately 26% to 27% of sales, for the fourth quarter of 2023.
Positive Outlook
- Sales are estimated to be down sequentially approximately 2% at the midpoint of the fourth quarter 2023 sales guidance range.
- GAAP net income is expected to be $37 million to $45 million.
- Diluted earnings per common share are expected to be between $0.25 and $0.30.
- Non-GAAP diluted earnings per common share are expected to range from $0.55 to $0.60.
- EBITDA is expected to be approximately 26% to 27% of sales.