Slide 1: Earnings Summary Second Quarter 2024
Earnings Summary Second Quarter 2024 July 31, 2024
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 2Q24 2Q23 1Q24 2Q24 over 2Q23 2Q24 over 1Q24 Net Sales $812.7 $901.0 $771.0 (9.8%) 5.4% Gross Margin 46.2% 42.6% 45.6% Operating Expenses $245.7 $116.6 $234.2 110.7% 4.9% Operating Income $130.1 $267.6 $117.6 (5
Slide 4: Summary – Consolidated Statement of Operations Non-GAAP
Summary – Consolidated Statement of Operations Non-GAAP1 $ in millions, except per share data 2Q24 2Q23 1Q24 2Q24 over 2Q23 2Q24 over 1Q24 Net Sales $812.7 $901.0 $771.0 (9.8%) 5.4% Adjusted Gross Margin – as a % of Net 46.2% 42.6% 45.6% Sales Non-GAAP Operating Expenses2 $196.9 $183.2 $173.7 7.5% 1
Slide 5: Summary – Consolidated Statement of Operations (excluding divestitures) Non-GAAP
Excluding Divestitures Summary – Consolidated Statement of Operations (excluding divestitures)1,2 Non-GAAP $ in millions 2Q24 2Q23 1Q24 2Q24 over 2Q23 2Q24 over 1Q24 Adjusted Net Sales $812.7 $765.8 $737.1 6.1% 10.3% Adjusted Gross Margin % 46.2% 45.6% 46.1% Non-GAAP Operating Expenses $196.9 $177.1
Slide 6: Materials Solutions (MS) 2Q24 Highlights
Materials Solutions (MS) 2Q24 Highlights 2Q24 over 2Q24 over $ in millions 2Q24 2Q23 1Q24 2Q23 1Q24 Net Sales $342.3 $440.6 $350.0 (22.3%) (2.2%) Adjusted sales (ex. divestitures) increase Adjusted Net Sales (ex. (SEQ), was driven primarily by CMP slurries $342.3 $305.4 $316.1 12.1% 8.3% and Pads (b
Slide 7: Microcontamination Control (MC) 2Q24 Highlights
Microcontamination Control (MC) 2Q24 Highlights 2Q24 over 2Q24 over $ in millions 2Q24 2Q23 1Q24 2Q23 1Q24 Net Sales $293.8 $283.6 $267.9 3.6% 9.7% Sales increase (SEQ), was driven by most major product lines, including gas Segment Profit $93.7 $100.7 $86.6 (7.0%) 8.2% purification, liquid filtratio
Slide 8: Advanced Materials Handling (AMH) 2Q24 Highlights
Advanced Materials Handling (AMH) 2Q24 Highlights 2Q24 over 2Q24 over $ in millions 2Q24 2Q23 1Q24 2Q23 1Q24 Net Sales $188.2 $190.4 $162.9 (1.2%) 15.5% Sales increase (SEQ), was driven primarily by a rebound in CAPEX driven solutions – led by Segment Profit $29.0 $35.8 $24.6 (19.0%) 17.9% FOUPs, se
Slide 9: Summary – Balance Sheet Items
Summary – Balance Sheet Items $ in millions 2Q24 2Q23 1Q24 $ Amount % Total $ Amount % Total $ Amount % Total Cash, Cash Equivalents & Restricted Cash $320.0 3.8% $567.0 5.7% $340.7 4.1% Accounts Receivable, net $457.1 5.5% $436.0 4.4% $424.5 5.1% Inventories, net $633.4 7.6% $740.4 7.5% $625.7 7.5%
Slide 10: Cash Flows
Cash Flows $ in millions 2Q24 2Q23 1Q24 Beginning Cash Balance $340.7 $709.0 $456.9 Cash provided by operating activities 111.2 127.0 147.2 Capital expenditures (59.3) (116.1) (66.6) Proceeds from long-term debt — — 224.5 Payments on long-term debt (55.0) (311.5) (643.3) Proceeds from sale of busine
Slide 11: Outlook
Outlook GAAP $ in millions, except per share data 3Q24 Guidance 2Q24 Actual 1Q24 Actual Net Sales $820 - $840 $812.7 $771.0 Operating Expenses $238 - $242 $245.7 $234.2 Net Income $78 - $85 $67.7 $45.3 Diluted Earnings per Common Share $0.51 - $0.56 $0.45 $0.30 Operating Margin 17.0% - 18.2% 16.0% 1
Slide 12: Trademark 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 13: Appendix
Appendix Entegris
Slide 14: Consolidated (as reported) Summary Financials Non-GAAP
Consolidated (as reported) Summary Financials Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 Net Sales $922 $901 $888 $812 $3,524 $771 $813 Adjusted Gross Margin % 44.3% 42.6% 41.4% 42.4% 42.7% 45.6% 46.2% Non-GAAP Operating $204 $183 $172 $176 $736 $174 $197 Expenses Adjusted Operating
Slide 15: 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 Adjusted Net Sales $778 $766 $756 $765 $3,066 $737 $813 Adjusted Gross Margin % 48.3% 45.6% 44.0% 43.4% 45.3% 46.1% 46.2% Non-GAAP Operating Expenses $198 $177
Slide 16: Segment (as reported) Financials Non-GAAP
Segment (as reported) Financials Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 Sales: MS $448 $441 $436 $365 $1,689 $350 $342 MC $269 $284 $286 $288 $1,128 $268 $294 AMH $219 $190 $180 $169 $759 $163 $188 Inter-segment elimination $(14) $(14) $(14) $(10) $(52) $(10) $(12) Total Sales $
Slide 17: Segment (excluding divestitures) Financials Non-GAAP
Excluding Divestitures Segment (excluding divestitures)1 Financials Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 Adjusted Sales: MS $304 $305 $303 $318 $1,231 $316 $342 MC $269 $284 $286 $288 $1,128 $268 $294 AMH $219 $190 $180 $169 $759 $163 $188 Inter-segment elimination $(14) $(14)
Slide 18: 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 Net sales $922.4 $901.0 $888.2 $812.3 $3,523.9 $771.0 $812.7 Divestitures 2 (144.0) (135.2) (132.2) (46.8) (458.4) (33.9) — Adjusted net sales Non-GAA
Slide 19: 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 GAAP Operating Expenses $388.2 $116.6 $250.0 $243.7 $998.4 $234.2 $ 245.7 Adjustments to operating expenses: Goodwill impairment 1 88.9
Slide 20: 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 Net sales $922.4 $901.0 $888.2 $812.3 $3,523.9 $771.0 $812.7 Net (loss) Income ($88.2) $197.6 $33.2 $38.0 $180.7 $45.3 $67.7 Net (loss) income - as a % of net sales (
Slide 21: 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 Adjusted (excluding divestitures)1 Net Sales 2 $778.4 $765.8 $756.0 $765.4 $3,065.6 $737.1 $812.7 Adjusted Operating Income 3 2
Slide 22: Reconciliation of Segment Sales to Segment Sales (excluding divestitures)
Reconciliation of Segment Sales (as reported) to Segment Sales (excluding divestitures)1 Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 Net Sales: MS Segment Net Sales $448.3 $440.6 $435.5 $365.0 $1,689.5 $350.0 $342.3 Adjusted (excluding divestitures)1 Net Sales (144.0) (135.2) (132.2)
Slide 23: Reconciliation of GAAP Net Income and Diluted 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 GAAP net (loss) income ($88.2) $197.6 $33.2 $38.0 $180.7 $45.3 $67.7 Adjustments to
Slide 24: Reconciliation of GAAP Outlook to Non-GAAP Outlook
Reconciliation of GAAP Outlook to Non-GAAP Outlook* $ in millions Third Quarter Outlook Reconciliation GAAP operating expenses to non-GAAP operating expenses: September 28, 2024 GAAP operating expenses $238 - $242 Adjustments to net income: Deal, transaction and integration costs $ — Amortization of
Slide 25: Reconciliation of GAAP Outlook to Non-GAAP Outlook (continued)
Reconciliation of GAAP Outlook to Non-GAAP Outlook* (continued) $ in millions Third Quarter Outlook Reconciliation GAAP Operating Margin to non-GAAP Operating Margin and Adjusted EBITDA Margin September 28, 2024 Net sales $820 - $840 GAAP - Operating income $139 - $153 Operating margin - as a % of n