Entegris Q2 Sales Surge 11.5% to $883M, Crushing Estimates; Q3 Guidance Tops Views
ENTG sits 93% above its 52-week low of $67.97.
Summary
Entegris delivered a strong Q2 beat with sales of $883.2M, up 11.5% and well above the $835M consensus, driven by improving semiconductor demand and customer capex. Non-GAAP EPS of $0.93 also exceeded expectations. The company issued Q3 guidance for sales of $905M-$935M and non-GAAP EPS of $0.96-$1.04, both above prior estimates. This follows the 8-K filed earlier today confirming results above internal guidance. The beat and raise signal accelerating momentum in the semiconductor materials cycle, with double-digit growth across both unit and capex-related businesses. The stock, which closed at $125.20, trades at 30x forward earnings, down from 37x three months ago, suggesting room for multiple expansion if the recovery continues.
At the time of this announcement, ENTG was trading at $131.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $19.1B. The 52-week trading range was $67.97 to $186.94. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.