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Dec 31, 2022
MKS Q4 2022 Earnings Report
Reported record quarterly revenue and exceeded guidance
Key Takeaways
MKS Instruments reported record quarterly revenue of $1.09 billion, up 42% year-over-year, exceeding the high-end of guidance. Quarterly GAAP net income per diluted share was $0.81 and quarterly Non-GAAP net earnings per diluted share was $2.00, also exceeding the high-end of guidance. The company's manufacturing and service operations are in the recovery phase following a ransomware incident.
Record quarterly revenue of $1.09 billion, up 42% year-over-year, exceeding the high-end of guidance
Quarterly GAAP net income per diluted share of $0.81 and quarterly Non-GAAP net earnings per diluted share of $2.00, exceeding the high-end of guidance
Quarterly GAAP net income of $54 million and quarterly Adjusted EBITDA of $282 million, exceeding the high-end of guidance
Quarterly operating cash flow of $184 million and free cash flow of $130 million
Revenue by Segment
Forward Guidance
The Company anticipates the ransomware incident identified on February 3, 2023 to have a material impact on the Company's first quarter results. The full scope of the costs and related impacts of the incident has not yet been determined. As a result, the Company will not provide its usual first quarter guidance at this time. Prior to the ransomware event, the Company expected revenue in the first quarter of approximately $1 billion. The Company currently estimates the impact from the incident on first quarter revenue to be at least $200 million. The Company expects to resume its normal guidance practice for the second quarter.
Challenges Ahead
- The ransomware incident identified on February 3, 2023 is anticipated to have a material impact on the Company's first quarter results.
- The full scope of the costs and related impacts of the incident has not yet been determined.
- The Company will not provide its usual first quarter guidance at this time.
- The Company currently estimates the impact from the incident on first quarter revenue to be at least $200 million.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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