MKS Q1 2020 Earnings Report

Revenue increased driven by Semiconductor Market demand while managing COVID-19 disruptions.

Key Takeaways

MKS Instruments reported a strong first quarter with revenue at the high end of guidance, driven by a 15% sequential increase in Semiconductor Market revenue. The company managed COVID-19 disruptions effectively, maintaining a strong balance sheet with $503 million in cash and short-term investments.

Revenue reached $536 million, a 7% increase sequentially and a 16% increase year-over-year.

Non-GAAP net earnings were $85 million, or $1.54 per diluted share.

GAAP net income was $69 million, or $1.25 per diluted share.

Semiconductor Market revenue grew 15% sequentially.

Total Revenue

$536M

Previous year: $464M

+15.6%

EPS

$1.54

Previous year: $1.12

+37.5%

Operating Margin

0.17%

Gross Profit

$240M

Previous year: $198M

+20.9%

Cash and Equivalents

$442M

Previous year: $418M

+5.7%

Free Cash Flow

$64.9M

Previous year: $14.6M

+344.5%

Total Assets

$3.47B

Previous year: $3.41B

+1.8%

MKS

MKS Revenue by Segment

Forward Guidance

The Company expects revenue in the second quarter of 2020 could range from $450 million to $520 million.

Positive Outlook

GAAP net income could range from $0.62 to $1.10 per diluted share
Non-GAAP net earnings could range from $0.90 to $1.38 per diluted share

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View MKS