Slide 1: Earnings Summary Third Quarter 2024
Earnings Summary Third Quarter 2024 November 4, 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 3Q24 3Q23 2Q24 3Q24 over 3Q23 3Q24 over 2Q24 Net Sales $807.7 $888.2 $812.7 (9.1%) (0.6%) Gross Margin 46.0% 41.3% 46.2% Operating Expenses $235.6 $250.0 $245.7 (5.8%) (4.1%) Operating Income $136.2 $117.1 $130.
Slide 4: Summary – Consolidated Statement of Operations Non-GAAP
Summary – Consolidated Statement of Operations Non-GAAP1 $ in millions, except per share data 3Q24 3Q23 2Q24 3Q24 over 3Q23 3Q24 over 2Q24 Net Sales $807.7 $888.2 $812.7 (9.1%) (0.6%) Adjusted Gross Margin – as a % of Net 46.0% 41.4% 46.2% Sales Non-GAAP Operating Expenses2 $186.0 $172.1 $196.9 8.1%
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 3Q24 3Q23 2Q24 3Q24 over 3Q23 3Q24 over 2Q24 Adjusted Net Sales $807.7 $756.0 $812.7 6.8% (0.6%) Adjusted Gross Margin % 46.0% 44.0% 46.2% Non-GAAP Operating Expenses $186.0 $166.
Slide 6: Materials Solutions (MS)
Materials Solutions (MS) 3Q24 Highlights 3Q24 over 3Q24 over $ in millions 3Q24 3Q23 2Q24 3Q23 2Q24 Net Sales $346.6 $435.5 $342.3 (20.4%) 1.3% Sales increase (SEQ) was driven primarily by Adjusted Net Sales (ex. $346.6 $303.3 $342.3 14.3% 1.3% CMP slurries and advanced deposition divestitures)1 mat
Slide 7: Microcontamination Control (MC)
Microcontamination Control (MC) 3Q24 Highlights 3Q24 over 3Q24 over $ in millions 3Q24 3Q23 2Q24 3Q23 2Q24 Net Sales $287.0 $286.2 $293.8 0.3% (2.3%) Sales decrease (SEQ) was driven by most major product lines, except for gas filtration. Segment Profit $96.7 $101.1 $93.7 (4.4%) 3.2% Segment Profit M
Slide 8: Advanced Materials Handling (AMH)
Advanced Materials Handling (AMH) 3Q24 Highlights 3Q24 over 3Q24 over $ in millions 3Q24 3Q23 2Q24 3Q23 2Q24 Net Sales $182.2 $180.2 $188.2 1.1% (3.2%) Sales decrease (SEQ), was driven primarily by lower demand for our capex driven Segment Profit $30.6 $31.6 $29.0 (3.2%) 5.5% microenvironments produ
Slide 9: Summary – Balance Sheet Items
Summary – Balance Sheet Items $ in millions 3Q24 3Q23 2Q24 $ Amount % Total $ Amount % Total $ Amount % Total Cash and Cash Equivalents $432.1 5.1% $594.0 6.0% $320.0 3.8% Accounts Receivable, Net $503.2 5.9% $463.1 4.7% $457.1 5.5% Inventories, Net $643.0 7.6% $662.2 6.7% $633.4 7.6% Net PP&E $1,54
Slide 10: Cash Flows
Cash Flows $ in millions 3Q24 3Q23 2Q24 Beginning Cash Balance $320.0 $567.0 $340.7 Cash provided by operating activities 197.2 200.0 111.2 Capital expenditures (82.2) (78.1) (59.3) Proceeds from long-term debt — 100.3 — Payments on long-term debt — (175.3) (55.0) Payments for dividends (15.1) (15.1
Slide 11: Outlook
Outlook GAAP $ in millions, except per share data 4Q24 Guidance 3Q24 Actual 2Q24 Actual Net Sales $810 - $840 $807.7 $812.7 Operating Expenses $232 - $236 $235.6 $245.7 Net Income $75 - $86 $77.6 $67.7 Diluted Earnings per Common Share $0.49 - $0.56 $0.51 $0.45 Operating Margin 16.8% - 18.4% 16.9% 1
Slide 12: Trademarks
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 3Q24 Net Sales $922 $901 $888 $812 $3,524 $771 $813 $808 Adjusted Gross Margin % 44.3% 42.6% 41.4% 42.4% 42.7% 45.6% 46.2% 46.0% Non-GAAP Operating $204 $183 $172 $176 $736 $174 $197 $186 Expens
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 3Q24 Adjusted Net Sales $778 $766 $756 $765 $3,066 $737 $813 $808 Adjusted Gross Margin % 48.3% 45.6% 44.0% 43.4% 45.3% 46.1% 46.2% 46.0% Non-GAAP Operating Ex
Slide 16: Segment (as reported) Financials Non-GAAP
Segment (as reported) Financials Non-GAAP $ in millions 1Q23 2Q23 3Q23 4Q23 FY2023 1Q24 2Q24 3Q24 Sales: MS $448 $441 $436 $365 $1,689 $350 $342 $347 MC $269 $284 $286 $288 $1,128 $268 $294 $287 AMH $219 $190 $180 $169 $759 $163 $188 $182 Inter-segment elimination $(14) $(14) $(14) $(10) $(52) $(10)
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 3Q24 Adjusted Sales: MS $304 $305 $303 $318 $1,231 $316 $342 $347 MC $269 $284 $286 $288 $1,128 $268 $294 $287 AMH $219 $190 $180 $169 $759 $163 $188 $182 Inter-segment eli
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 3Q24 Net sales $922.4 $901.0 $888.2 $812.3 $3,523.9 $771.0 $812.7 $807.7 Divestitures 2 (144.0) (135.2) (132.2) (46.8) (458.4) (33.9) — — Adjusted net
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 3Q24 GAAP Operating Expenses $388.2 $116.6 $250.0 $243.7 $998.4 $234.2 $ 245.7 $ 235.6 Adjustments to operating expenses: Goodwill impai
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 3Q24 Net sales $922.4 $901.0 $888.2 $812.3 $3,523.9 $771.0 $812.7 $807.7 Net (loss) Income ($88.2) $197.6 $33.2 $38.0 $180.7 $45.3 $67.7 $77.6 Net (loss) income - as
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 3Q24 Adjusted (excluding divestitures)1 Net Sales 2 $778.4 $765.8 $756.0 $765.4 $3,065.6 $737.1 $812.7 $807.7 Adjusted Operatin
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 3Q24 Net Sales: MS Segment Net Sales $448.3 $440.6 $435.5 $365.0 $1,689.5 $350.0 $342.3 $346.6 Adjusted (excluding divestitures)1 Net Sales (144.0) (13
Slide 23: 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 GAAP net (loss) income ($88.2) $197.6 $33.2 $38.0 $180.7 $45.3 $67.7 $77.6 Adju
Slide 24: Reconciliation of GAAP Outlook to Non-GAAP Outlook
Reconciliation of GAAP Outlook to Non-GAAP Outlook* $ in millions Fourth Quarter Outlook Reconciliation GAAP operating expenses to non-GAAP operating expenses: December 31, 2024 GAAP operating expenses $232 - $236 Adjustments to net income: Amortization of intangible assets 46 Non-GAAP operating exp
Slide 25: Reconciliation of GAAP Outlook to Non-GAAP Outlook (continued)
Reconciliation of GAAP Outlook to Non-GAAP Outlook* (continued) $ in millions Fourth Quarter Outlook Reconciliation GAAP Operating Margin to non-GAAP Operating Margin and Adjusted EBITDA Margin December 31, 2024 Net sales $810 - $840 GAAP - Operating income $136 - $154 Operating margin - as a % of n