Entegris Q3 sales rise 25%, beat analyst estimates

Overview

• Semiconductor materials supplier's Q3 sales rose, beating analyst expectations

• Q3 non-GAAP diluted EPS was $1.23

• Company attributes results to margin expansion, and record cash flow enabling debt repayment

Outlook

• Entegris expects Q4 sales of $1.025 bln to $1.055 bln

• Company sees Q4 non-GAAP EPS of $1.32 to $1.40

• Entegris expects Q4 adjusted EBITDA margin of 30.7% to 31.2%

Result Drivers

• NEW DESIGN WINS - Co said securing new design wins and expanding customer plans drove strong revenue growth

• DISCIPLINED EXECUTION - Co cited disciplined execution as contributing to margin expansion and earnings growth

• RECORD CASH FLOW - Co said record cash flow enabled accelerated debt repayment and strengthened balance sheet

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 1 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the semiconductor equipment & testing peer group is "buy"

• Wall Street's median 12-month price target for Entegris Inc is $182.50, about 14.5% above its October 28 closing price of $159.32

• The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 44 three months ago

Reuters Recommended Reads

• Oct 27 - Netherlands' NXP Semiconductors Q3 revenue rises 19%, slightly beats estimates

• Oct 27 - Switzerland's INFICON Q3 sales jump, lifts FY outlook on firm semiconductor demand

• Oct 28 - Chip gear maker KLA's Q1 revenue beats analyst estimates on AI demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)