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Sep 30, 2022

MKS Q3 2022 Earnings Report

MKS Instruments reported a strong third quarter, driven by robust demand for its vacuum and photonics solutions and the successful acquisition of Atotech Limited.

Key Takeaways

MKS Instruments reported record quarterly revenue of $954 million in Q3 2022. Non-GAAP net earnings per diluted share were $2.74, while GAAP net income per diluted share was $0.09. The company successfully completed the acquisition of Atotech Limited, broadening its capabilities in critical chemistry solutions.

Delivered record quarterly revenue of $954 million.

Achieved Non-GAAP net earnings per diluted share of $2.74 and GAAP net income per diluted share of $0.09.

Completed the acquisition of Atotech Limited, adding critical chemistry solutions for advanced electronics and specialty industrial markets.

Net leverage ratio of 3.3 at the end of the third quarter.

Total Revenue
$954M
Previous year: $742M
+28.6%
EPS
$2.74
Previous year: $2.79
-1.8%
Operating Margin
25.1%
Previous year: 27.1%
-7.4%
Gross Profit
$390M
Previous year: $348M
+11.9%
Cash and Equivalents
$884M
Previous year: $633M
+39.6%
Free Cash Flow
$173M
Previous year: $133M
+30.5%
Total Assets
$11.4B
Previous year: $4.37B
+160.5%

MKS

MKS

MKS Revenue by Segment

Forward Guidance

The Company expects revenue in the fourth quarter of 2022 of $1.00 billion, plus or minus $50 million. At these volumes, the Company expects Non-GAAP net earnings per diluted share of $1.34, plus or minus $0.27.