Slide 1: Earnings Summary Fourth Quarter 2024
Earnings Summary Fourth Quarter 2024 February 6, 2025
Slide 2: Safe Harbor
Safe Harbor This news release contains “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “should,” “may,” “will,” “would” or the negative thereof and similar expressions are intended to identify such forward-looking statements. Th
Slide 3: Summary – Consolidated Statement of Operations GAAP
Summary – Consolidated Statement of Operations GAAP $ in millions, except per share data 4Q24 4Q23 3Q24 4Q24 over 4Q23 4Q24 over 3Q24 Net Sales $849.8 $812.3 $807.7 4.6% 5.2% Gross Margin 45.6% 42.4% 46.0% Operating Expenses $237.3 $243.7 $235.6 (2.6%) 0.7% Operating Income $150.0 $101.0 $136.2 48.5
Slide 4: Summary – Consolidated Statement of Operations Non-GAAP
Summary – Consolidated Statement of Operations Non-GAAP1 $ in millions, except per share data 4Q24 4Q23 3Q24 4Q24 over 4Q23 4Q24 over 3Q24 Net Sales $849.8 $812.3 $807.7 4.6% 5.2% Adjusted Gross Margin – as a % of Net 45.6% 42.4% 46.0% Sales Non-GAAP Operating Expenses2 $187.5 $176.4 $186.0 6.3% 0.8
Slide 5: Consolidated Statement of Operations (excluding divestitures) Non-GAAP
Excluding Divestitures Summary – Consolidated Statement of Operations (excluding divestitures)1,2 Non-GAAP $ in millions 4Q24 4Q23 3Q24 4Q24 over 4Q23 4Q24 over 3Q24 Adjusted Net Sales $849.8 $765.4 $807.7 11.0% 5.2% Adjusted Gross Margin % 45.6% 43.4% 46.0% Non-GAAP Operating Expenses $187.5 $174.0
Slide 6: Summary – Consolidated Statement of Operations GAAP (Full Year)
Summary – Consolidated Statement of Operations GAAP Year ended Year ended December 31, $ in millions, except per share data December 31, 2024 2023 Year-over-Year Net Revenue $3,241.2 $3,523.9 (8.0%) Gross Margin 45.9% 42.5% Operating Expenses $952.8 $998.4 (4.6%) Operating Income $533.9 $499.2 7.0%
Slide 7: Summary – Consolidated Statement of Operations Non-GAAP (Full Year)
Summary – Consolidated Statement of Operations Non-GAAP1 Year ended Year ended December 31, December 31, $ in millions, except per share data 2024 2023 Year-over-Year Net Sales $3,241.2 $3,523.9 (8.0%) Adjusted Gross Margin 45.9% 42.7% Non-GAAP Operating Expenses2 $744.2 $736.1 1.1% Adjusted Operati
Slide 8: Consolidated Statement of Operations (excluding divestitures) Full Year
Excluding Divestitures Summary – Consolidated Statement of Operations (excluding divestitures)1,2 Non-GAAP Year ended Year ended December 31, $ in millions, except per share data December 31, 2024 2023 Year-over-Year Net Sales $3,207.3 $3,065.6 4.6% Adjusted Gross Margin 46.0% 45.3% Non-GAAP Operati
Slide 9: Materials Solutions (MS)
Materials Solutions (MS) 4Q24 Highlights 4Q24 over 4Q24 over $ in millions 4Q24 4Q23 3Q24 4Q23 3Q24 Net Sales $361.1 $365.0 $346.6 (1.1%) 4.2% Sales increase ex. divestitures (YOY and SEQ) Adjusted Net Sales (ex. was driven primarily by CMP consumables, $361.1 $318.1 $346.6 13.5% 4.2% divestitures)1
Slide 10: Advanced Purity Solutions (APS)
Advanced Purity Solutions (APS)1 4Q24 Highlights 4Q24 over 4Q24 over $ in millions 4Q24 4Q23 3Q24 4Q23 3Q24 Net Sales $491.2 $449.8 $463.1 9.2% 6.1% Sales increase (YOY) was driven by fluid handling, wafer handling and gas purification. Segment Profit $135.0 $118.0 $127.3 14.4% 6.0% Sales increase (
Slide 11: Summary – Balance Sheet Items
Summary – Balance Sheet Items $ in millions 4Q24 4Q23 3Q24 $ Amount % Total $ Amount % Total $ Amount % Total Cash and Cash Equivalents $329.2 3.9% $456.9 5.2% $432.1 5.1% Accounts Receivable, Net $495.3 5.9% $457.1 5.2% $503.2 5.9% Inventories, Net $638.1 7.6% $607.1 6.9% $643.0 7.6% Net PP&E $1,62
Slide 12: Cash Flows
Cash Flows $ in millions 4Q24 4Q23 FY2024 FY2023 Beginning Cash Balance $432.1 $594.0 $456.9 $563.4 Cash provided by operating activities 176.1 158.1 631.7 644.5 Capital expenditures (107.5) (128.7) (315.6) (456.8) Net payments on debt (150.0) (869.7) (623.8) (1,256.2) Proceeds from sale of business
Slide 13: Outlook
Outlook GAAP $ in millions, except per share data 1Q25 Guidance 4Q24 Actual 3Q24 Actual Net Sales $775 - $805 $849.8 $807.7 Operating Expenses $236 - $240 $237.3 $235.6 Net Income $58 - $68 $102.2 $77.6 Diluted Earnings per Common Share $0.38 - $0.45 $0.67 $0.51 Operating Margin 15.0% - 16.7% 17.6%
Slide 14: Trademarks notice
Entegris®, the Entegris Rings Design®, and other product names are trademarks of Entegris, Inc. as listed on entegris.com/trademarks. All product names, logos, and company names are trademarks or registered trademarks of their respective owners. Use of them does not imply any affiliation, sponsorshi
Slide 15: Appendix
Appendix Entegris
Slide 16: Consolidated (as reported) Summary Financials Non-GAAP
Consolidated (as reported) Summary Financials Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 Net Sales $922.4 $901.0 $888.2 $812.3 $3,523.9 $771.0 $812.7 $807.7 $849.8 $3,241.2 Adjusted Gross Margin % 44.3% 42.6% 41.4% 42.4% 42.7% 45.6% 46.2% 46.0% 45.6% 45.9% Non-GAAP
Slide 17: Consolidated (excluding divestitures) Summary Financials Non-GAAP
Excluding Divestitures Consolidated (excluding divestitures)1 Summary Financials Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 Adjusted Net Sales $778.4 $765.8 $756.0 $765.4 $3,065.6 $737.1 $812.7 $807.7 $849.8 $3,207.3 Adjusted Gross Margin % 48.3% 45.6% 44.0% 43.4% 4
Slide 18: Segment (as reported) Financials Non-GAAP
Segment (as reported) Financials Non-GAAP1 $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 Sales: MS $448.3 $440.6 $435.5 $365.0 $1,689.5 $350.0 $342.3 $346.6 $361.1 $1,400.1 APS $476.9 $463.6 $456.3 $449.8 $1,846.6 $423.4 $472.5 $463.1 $491.2 $1,850.2 Inter-segment elimination $
Slide 19: Segment (excluding divestitures) Financials Non-GAAP
Excluding Divestitures Segment (excluding divestitures)1,2 Financials Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 Adjusted Sales: MS $304.3 $305.4 $303.3 $318.1 $1,231.1 $316.1 $342.3 $346.6 $361.1 $1,366.2 APS $476.9 $463.6 $456.3 $449.8 $1,846.6 $423.4 $472.5 $463.
Slide 20: Reconciliation of Net Sales to Adjusted Net Sales (excluding divestitures)
Reconciliation of Net Sales (as reported) to Adjusted Net Sales Non-GAAP (excluding divestitures)1 $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 Net sales $922.4 $901.0 $888.2 $812.3 $3,523.9 $771.0 $812.7 $807.7 $849.8 $3,241.2 Divestitures 2 (144.0) (135.2) (132.2) (46.8) (45
Slide 21: Reconciliation of GAAP Operating Expenses to Operating Expenses (excluding divestitures)
Reconciliation of GAAP Operating Expenses (as reported) to Operating Expenses (excluding divestitures)1 Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 GAAP Operating Expenses $388.2 $116.6 $250.0 $243.7 $998.4 $234.2 $ 245.7 $ 235.6 $ 237.3 $ 952.8 Adjustments to operat
Slide 22: Reconciliation of GAAP Net Income to Adjusted Operating Income and Adjusted EBITDA
Reconciliation of GAAP Net Income to Adjusted Operating Income and Adjusted EBITDA $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 Net sales $922.4 $901.0 $888.2 $812.3 $3,523.9 $771.0 $812.7 $807.7 $849.8 $3,241.2 Net (loss) Income ($88.2) $197.6 $33.2 $38.0 $180.7 $45.3 $67.7 $
Slide 23: Reconciliation of Adjusted Operating Income to Adjusted Operating Income (excluding divestitures)
Reconciliation of Adjusted Operating Income (as reported) to Adjusted Operating Income (excluding divestitures)1 Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 Adjusted (excluding divestitures)1 Net $778.4 $765.8 $756.0 $765.4 $3,065.6 $737.1 $812.7 $807.7 $849.8 $3,207
Slide 24: Reconciliation of MS Segment Sales to MS Segment Sales (excluding divestitures)
Reconciliation of MS Segment Sales (as reported) to MS Segment Sales (excluding divestitures)1,2 Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 Net Sales: MS Segment Net Sales $448.3 $440.6 $435.5 $365.0 $1,689.5 $350.0 $342.3 $346.6 $361.1 $1,400.1 Adjusted (excluding
Slide 25: Reconciliation of APS Segment Profit to Adjusted APS Segment Profit
Reconciliation of APS Segment Profit to Adjusted APS Segment Profit Non-GAAP 1 $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 APS segment profit $144.2 $136.5 $132.8 $118.0 $531.4 $111.2 $122.7 $127.3 $135.0 $496.1 Restructuring costs 2 4.0 — 0.7 0.3 5.0 — — — 2.1 2.1 APS adjust
Slide 26: Reconciliation of GAAP Net Income and EPS to Non-GAAP
Reconciliation of GAAP Net Income and Diluted Earnings per Common Share to Non-GAAP Net Income and Diluted Non-GAAP Earnings per Common Share $ in millions, except per share data 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 4Q24 FY2024 GAAP net (loss) income ($88.2) $197.6 $33.2 $38.0 $180.7 $45.3 $67.
Slide 27: Reconciliation of GAAP Outlook to Non-GAAP Outlook
Reconciliation of GAAP Outlook to Non-GAAP Outlook* $ in millions First Quarter Outlook Reconciliation GAAP operating expenses to non-GAAP operating expenses: March 29, 2025 GAAP operating expenses $236 - $240 Adjustments to net income: Restructuring costs 2 Amortization of intangible assets 46 Non-
Slide 28: Reconciliation of GAAP Outlook to Non-GAAP Outlook (continued)
Reconciliation of GAAP Outlook to Non-GAAP Outlook* (continued) $ in millions First Quarter Outlook Reconciliation GAAP Operating Margin to non-GAAP Operating Margin and Adjusted EBITDA Margin March 29, 2025 Net sales $775 - $805 GAAP - Operating income $116 - $134 Operating margin - as a % of net s