Entegris, Inc. · NASDAQ:ENTG
Entegris — Q1 2025 Earnings Presentation
24 slides from Entegris's earnings presentation, May 7, 2025
Slide 1: Entegris Earnings Summary First Quarter 2025
Entegris Earnings Summary First Quarter 2025 May 7, 2025 ENTEGRIS PROPRIETARY AND CONFIDENTIAL – INTERNAL
Slide 2: Safe Harbor
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Safe Harbor This presentation 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
Slide 3: Summary – Consolidated Statement of Operations GAAP
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Summary – Consolidated Statement of Operations GAAP $ in millions, except per share data 1Q25 1Q24 4Q24 1Q25 over 1Q24 1Q25 over 4Q24 Net Sales $773.2 $771.0 $849.8 0.3% (9.0%) Gross Margin 46.1% 45.6% 45.6% Operating Expenses $234.2 $234.2 $237.3 0.0% (1
Slide 4: Summary – Consolidated Statement of Operations Non-GAAP
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Summary – Consolidated Statement of Operations Non-GAAP1 $ in millions, except per share data 1Q25 1Q24 4Q24 1Q25 over 1Q24 1Q25 over 4Q24 Net Sales $773.2 $771.0 $849.8 0.3% (9.0%) Adjusted Gross Margin – as a % of Net Sales 46.1% 45.6% 45.6% Non-GAAP Op
Slide 5: Summary – Consolidated Statement of Operations (excluding divestiture) Non-GAAP
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Summary – Consolidated Statement of Operations (excluding divestiture)1,2 Non-GAAP $ in millions, except per share data 1Q25 1Q24 4Q24 1Q25 over 1Q24 1Q25 over 4Q24 Adjusted Net Sales $773.2 $737.1 $849.8 4.9% (9.0%) Adjusted Gross Margin % 46.1% 46.1% 45
Slide 6: Materials Solutions (MS) 1Q25 Highlights
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Materials Solutions (MS) 1Q25 Highlights 1Q25 over 1Q25 over $ in millions 1Q25 1Q24 4Q24 1Q24 4Q24 Net Sales $341.4 $350.0 $361.1 (2.5%) (5.5%) Adjusted Net Sales $341.4 $316.1 $361.1 8.0% (5.5%) (ex. divestiture)1 Sales increase ex. Segment Profit $75.0
Slide 7: Advanced Purity Solutions (APS) 1Q25 Highlights
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Advanced Purity Solutions (APS)1 1Q25 Highlights 1Q25 over 1Q25 over $ in millions 1Q25 1Q24 4Q24 1Q24 4Q24 Sales increase (YOY) was Net Sales $433.9 $423.3 $491.2 2.5% (11.7)% driven primarily by micro Segment Profit $108.1 $111.2 $134.9 (2.8%) (19.9%) c
Slide 8: Summary – Balance Sheet Items
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Summary – Balance Sheet Items $ in millions 1Q25 1Q24 4Q24 $ Amount % Total $ Amount % Total $ Amount % Total Cash and Cash Equivalents $340.9 4.0% $340.7 4.1% $329.2 3.9% Accounts Receivable, Net $500.5 5.9% $424.5 5.1% $495.3 5.9% Inventories, Net $671.
Slide 9: Summary – Cash Flows
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Summary – Cash Flows $ in millions 1Q25 1Q24 4Q24 Beginning Cash Balance $329.2 $456.9 $432.1 Cash provided by operating activities 140.4 147.2 176.1 Capital expenditures (108.0) (66.6) (107.5) Net payments on debt — (418.8) (150.0) Proceeds from sale of
Slide 10: Outlook
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Outlook GAAP $ in millions, except share data 2Q25 Guidance 1Q25 Actual 4Q24 Actual Net Sales $735 - $775 $773.2 $849.8 Operating Expenses $225 - $229 $234.2 $237.3 Net Income $51 - $62 $62.9 $102.3 Diluted Earnings per Common Share $0.34 - $0.41 $0.41 $0
Slide 11: Appendix
CO Entegris Appendix
Slide 12: Consolidated (as reported) Summary Financials Non-GAAP
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Consolidated (as reported) Summary Financials Non-GAAP1 $ in millions 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 Net Sales $771.0 $812.7 $807.7 $849.8 $3,241.2 $773.2 Adjusted Gross Margin % 45.6% 46.2% 46.0% 45.6% 45.9% 46.1% Non-GAAP Operating Expenses $173.7 $196
Slide 13: Consolidated (excluding divestiture) Summary Financials Non-GAAP
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Consolidated (excluding divestiture)1 Summary Financials Non-GAAP $ in millions 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 Net Sales $737.1 $812.7 $807.7 $849.8 $3,207.3 $773.2 Adjusted Gross Margin % 46.1% 46.2% 46.0% 45.6% 46.0% 46.1% Non-GAAP Operating Expenses $
Slide 14: Segment (as reported) Financials Non-GAAP
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Segment (as reported) Financials Non-GAAP1 $ in millions 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 Net Sales: MS $350.0 $342.3 $346.7 $361.1 $1,400.1 $341.4 APS 423.3 472.6 463.1 491.2 1,850.2 433.9 Inter-segment elimination (2.3) (2.2) (2.1) (2.5) (9.1) (2.1) Tota
Slide 15: Segment (excluding divestiture) Financials Non-GAAP
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Segment (excluding divestiture)1,2 Financials Non-GAAP $ in millions 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 Net Sales: MS $316.1 $342.3 $346.7 $361.1 $1,366.2 $341.4 APS 423.3 472.6 463.1 491.2 1,850.2 433.9 Inter-segment elimination (2.3) (2.2) (2.1) (2.5) (9.1
Slide 16: Reconciliation of Net Sales to Adjusted Net Sales Non-GAAP
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Reconciliation of Net Sales (as reported) to Adjusted Net Sales Non-GAAP (excluding divestiture)1 $ in millions 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 Net Sales $771.0 $812.7 $807.7 $849.8 $3,241.2 $773.2 Divestiture 2 (33.9) — — — (33.9) — Adjusted net sales No
Slide 17: Reconciliation of GAAP Operating Expenses to Operating Expenses
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Reconciliation of GAAP Operating Expenses (as reported) to Operating Expenses (excluding divestiture)1 Non-GAAP $ in millions 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 GAAP Operating Expenses $234.2 $245.7 $235.6 $237.3 $952.8 $234.2 Adjustments to operating expens
Slide 18: Reconciliation of GAAP Net Income to Adjusted Operating Income
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Reconciliation of GAAP Net Income to Adjusted Operating Income and Adjusted EBITDA $ in millions 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 Net Sales $771.0 $812.7 $807.7 $849.8 $3,241.2 $773.2 Net income $45.3 67.7 77.5 102.3 292.8 62.9 Net income - as a % of net s
Slide 19: Reconciliation of Adjusted Operating Income and Adjusted EBITDA
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Reconciliation of Adjusted Operating Income (as reported) to Adjusted Operating Income (excluding divestiture)1 Non-GAAP $ in millions 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 Adjusted (excluding divestiture) 1 Net Sales 2 $737.1 $812.7 $807.7 $849.8 $3,207.3 $773
Slide 20: Reconciliation of MS Segment Sales and Profit
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Reconciliation of MS Segment Sales (as reported) to MS Segment Sales (excluding divestiture)1 Non-GAAP $ in millions 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 Net Sales: MS Segment Net Sales $350.0 $342.3 $346.7 $361.1 $1,400.1 $341.4 Adjusted (excluding divestitur
Slide 21: Reconciliation of APS Segment Profit to Adjusted APS Segment Profit
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Reconciliation of APS Segment Profit to Adjusted APS Segment Profit Non-GAAP 1 $ in millions 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 Net Sales: APS Segment profit $111.2 $122.6 $127.4 $134.9 $496.1 $108.1 Restructuring costs 2 — — — 2.2 2.2 2.3 APS adjusted segme
Slide 22: Reconciliation of GAAP Net Income and Diluted EPS to Non-GAAP
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY 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 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 GAAP net income $45.3 $67.7 $77.5 $102.3 $29
Slide 23: Reconciliation of GAAP Outlook to Non-GAAP Outlook
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Reconciliation of GAAP Outlook to Non-GAAP Outlook* $ in millions Second Quarter Outlook Reconciliation GAAP operating expenses to non-GAAP operating expenses: GAAP operating expenses $225 - $229 Adjustments to net income: Amortization of intangible asset
Slide 24: Reconciliation of GAAP Outlook to Non-GAAP Outlook (continued)
ENTEGRIS FIRST QUARTER 2025 EARNINGS SUMMARY Reconciliation of GAAP Outlook to Non-GAAP Outlook* (continued) $ in millions Second Quarter Outlook Reconciliation GAAP operating expenses to non-GAAP operating expenses: Net sales $735 - $775 GAAP - Operating income $104 - $125 Operating margin - as a %