Mks Inc. · NASDAQ:MKSI
Mks — Q1 2025 Earnings Presentation
19 slides from Mks's earnings presentation, May 8, 2025
Slide 1: First Quarter 2025 Financial Results
First Quarter 2025 Financial MKS Instruments, Inc. Results May 8, 2025
Slide 2: Safe Harbor for Forward-Looking Statements
Safe Harbor for Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the future financi
Slide 3: Notes on Presentation
Notes on Presentation Use of Non-GAAP Financial Measures This presentation includes financial measures that are not in accordance with U.S. generally accepted accounting principles (“Non-GAAP financial measures”). These Non- GAAP financial measures should be viewed in addition to, and not as a subst
Slide 4: Q1 2025 Results: Strong start to the year
Q1 2025 Results: Strong start to the year Q1 2025 Q1 2025 Q1 2025 Q1 2025 $936M 47.4% $236M $1.71 REVENUE NON-GAAP ADJUSTED NON-GAAP GROSS MARGIN EBITDA NET EARNINGS PER DILUTED SHARE ● Strong revenues better-than-expected across all end markets ● Gross margin at high end of guidance and tightly man
Slide 5: Semiconductor
Semiconductor Q1 Highlights Business Trends Guidance Q1 2025 Q/Q CHANGE +3% Q2 2025 $413M Y/Y CHANGE +18% $415M+/- $15M REVENUE Y/Y CHANGE1 +20% REVENUE Excluding FX ● Revenue at high end of guidance range and ● Steadily improving environment and continue increased sequentially related to demand in
Slide 6: Electronics & Packaging
Electronics & Packaging Q1 Highlights Business Trends Q/Q CHANGE 0% Guidance Q1 2025 Q2 2025 $253M Y/Y CHANGE +22% $240M+/- $10M REVENUE Y/Y CHANGE1 +26% REVENUE Excluding FX & Palladium ● Our products and technologies play a key ● Revenue at high end of guidance range driven role in enabling the m
Slide 7: Specialty Industrial
Specialty Industrial Q1 Highlights Business Trends Q/Q CHANGE -4% Guidance Q1 2025 Q2 2025 $270M Y/Y CHANGE -13% $270M+/- $15M REVENUE Y/Y CHANGE1 -11% REVENUE Excluding FX & Palladium ● Revenue above midpoint of guidance but lower ● Leverages our proprietary technologies and sequentially from broa
Slide 8: Q1'25 Revenue & Select Financial Measures
Q1’25 Revenue & Select Financial Measures Y/Y Change Q1’25 SUMMARY Excl. FX and ● Revenue at high end of guidance driven by Q1'25 Q4'24 Q1'24 Pd1 continued recovery in demand in Semiconductor Semiconductor $413M $400M $351M 20% and Electronics & Packaging markets Electronics & Packaging $253M $254M
Slide 9: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Q1’25 SUMMARY Q1'25 Q4'24 Cash and Cash Equivalents $655M $714M ● Strong free cash flow of $123 million Trade Accounts Receivable, Net $639M $615M ● Liquidity of about $1.3 billion, consisting of $655 Inventories $894M $893M million of cash and cash equivalents and an undra
Slide 10: Outlook
Outlook Q2'25 Q1'25 Actual Outlook Revenue $925M +/- $40M $936M Non-GAAP Financial Measures ● Revenue outlook by end-market: Gross Margin 46.5% +/- 100 bps 47.4% ‒ Semiconductor – $415M +/- $15M Operating Expenses $252M +/- $5M $254M ‒ Electronics & Packaging – $240M +/- $10M Operating Income $178M
Slide 11: Navigating near-term; positioning for long-term opportunities
Navigating near-term; positioning for long-term opportunities ● Strong Q1 execution and financial results ● Stable demand trends entering Q2 ● Proven track record of managing through uncertainty ● Key provider of enabling technologies and strong customer relationships 11
Slide 12: eemks
eemks
Slide 13: Q1'25 Revenue
Q1’25 Revenue Q1’25 Specialty Industrial 29% Semi 44% Electronics & Packaging 27% Consumables & Service 39% 1 "Total Change” represents the percentage change in net revenues. “FX” and “Pd” reflect the estimated impact of foreign exchange rates and palladium prices on net revenues, respectively. “Cha
Slide 14: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q2'25 Q1'25 Q4'24 Q1'24 Net income $ 55 $ 52 $ 90 $ 15 Acquisition and integration costs — — 3 1 Restructuring and other 4 16 1 3 Amortization of intangible assets 60 60 61 62 Loss on extinguishment of debt 2 3 4 9 Amortization of debt issuance costs 4 5 5
Slide 15: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q2'25 Q1'25 Q4'24 Q1'24 Operating expenses $ 316 $ 332 $ 306 $ 309 Acquisition and integration costs — — 3 1 Restructuring and other 4 16 1 3 Amortization of intangible assets 60 60 61 62 Fees and expenses related to amendments to the Term Loan Facility —
Slide 16: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Net income $ 55 $ 52 $ 90 $ 62 $ 23 $ 15 Interest expense, net 52 50 49 58 74 81 Other (income) expense, net 1 (1) 3 5 (7) (3) Provision (benefit) for income taxes 4 7 (11) (2) (1) 4 Depreciation 26 25 26 26 25 26 Amorti
Slide 17: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q1'25 Q4'24 Q1'24 Net cash provided by operating activities $ 141 $ 176 $ 67 Purchases of property, plant and equipment (18) (51) (18) Free cash flow $ 123 $ 125 $ 49 Q1'25 Q4'24 Q1'24 Free cash flow $ 123 $ 125 $ 49 Cash paid for interest 42 58 75 Tax eff
Slide 18: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q1'25 Q1'24 Income Before Provision for Effective Tax Income Before Provision for Effective Tax Income Tax Income Taxes Rate Income Tax Income Taxes Rate GAAP $ 59 $ 7 12.3% $ 19 $ 4 23.1% Acquisition and integration costs — — 1 — Restructuring and other 1
Slide 19: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Non-GAAP financial measures adjust GAAP financial measures for the items listed below. These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, MKS’ reported GAAP, results and may be different from Non-GAAP financial