Press release
Entegris Reports Results for Second Quarter of 2024
Net sales (as reported) of $813 million, decreased 10% from prior year and increased 5% sequentially Adjusted net sales (excluding the impact of
About this update from Entegris, Inc.
[{"type":"text","content":"\n\nNet sales (as reported) of $813 million, decreased 10% from prior year and increased 5% sequentially\n\n\n\n\nAdjusted net sales (excluding the impact of divestitures) increased 6% from prior year and 10% sequentially\n\n\n\n\nGAAP diluted EPS of $0.45\n\n\n\n\nNon-GAAP diluted EPS of $0.71\n\n\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nEntegris, Inc. (NASDAQ: ENTG), today reported its financial results for the Company’s second quarter ended June 29, 2024.\n\n\nBertrand Loy, Entegris’ president and chief executive officer, said: “The Entegris team delivered another quarter of strong performance and execution. Sales (excluding divestitures) increased 10 percent sequentially and were up in all three divisions and in most product lines.”\n\n\nMr. Loy added: \"2024 continues to be a transition year for the semiconductor industry. We feel good about the improving fundamentals of the semi market and expect it will gradually recover in the second half of this year, albeit at a more moderate pace than previously expected. In the second half of 2024, we will continue to position the company for strong growth acceleration into 2025.”\n\n\n“The compounding process complexity of our customers’ roadmaps is making Entegris expertise in materials science and materials purity increasingly valuable,” he said. “This is expected to translate into higher Entegris content per wafer, expanding served market, and fuel our market outperformance.”\n\n\nQuarterly Financial Results Summary\n\n\n(in thousands, except percentages and per share data)\n\n\n\n\nGAAP Results\n\n\n\n\n\n\nJun 29, 2024\n\n\n\n\n\n\nJul 1, 2023\n\n\n\n\n\n\nMar 30, 2024\n\n\n\n\n\n\n\n\nNet sales\n\n\n\n\n\n\n$812,652\n\n\n\n\n\n\n$901,000\n\n\n\n\n\n\n$771,025\n\n\n\n\n\n\n\n\nGross margin - as a % of net sales\n\n\n\n\n\n\n46.2%\n\n\n\n\n\n\n42.6%\n\n\n\n\n\n\n45.6%\n\n\n\n\n\n\n\n\nOperating margin - as a % of net sales\n\n\n\n\n\n\n16.0%\n\n\n\n\n\n\n29.7%\n\n\n\n\n\n\n15.3%\n\n\n\n\n\n\n\n\nNet income\n\n\n\n\n\n\n$67,696\n\n\n\n\n\n\n$197,646\n\n\n\n\n\n\n$45,266\n\n\n\n\n\n\n\n\nDiluted earnings per common share\n\n\n\n\n\n\n$0.45\n\n\n\n\n\n\n$1.31\n\n\n\n\n\n\n$0.30\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNon-GAAP Results\n\n\n\n\n\n\nJun 29, 2024\n\n\n\n\n\n\nJul 1, 2023\n\n\n\n\n\n\nMar 30, 2024\n\n\n\n\n\n\n\n\nAdjusted gross ...