NASDAQ$ENTG

Entegris Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Entegris reported mixed results for Q1 2023, with revenue increasing year-over-year but decreasing slightly on a proforma basis, and GAAP EPS showing a loss while non-GAAP EPS remained positive.

Entegris reported first-quarter sales of $922.4 million, a 42% increase from the same quarter last year. GAAP net loss was $88.2 million, or $0.59 loss per diluted share, while non-GAAP net income was $97.8 million, or $0.65 earnings per diluted share.

  • First-quarter revenue (as reported) increased 42% from prior year, reaching $922.4 million.
  • First-quarter revenue (proforma) decreased 3.7%.
  • First-quarter GAAP diluted EPS was $(0.59).
  • First-quarter non-GAAP diluted EPS was $0.65.

Headline financials

Total Revenue

$922M

Previous: $650M+42.0%
EPS (adj)

$0.65

Previous: $1.06-38.7%
Capital Expenditures

-$134M

Previous: -$84.4M-58.7%
Free Cash Flow

-$222M

Previous: $41.3M-637.9%
Net Income

-$88.2M

Previous: $126M-170.1%
Operating Income

$13.5M

Previous: $163M-91.8%
Gross Profit

$402M

Previous: $310M+29.7%
Cash & Equivalents

$708M

Previous: $353M+100.7%
Total Assets

$10.1B

Previous: $3.28B+206.6%
Stock-Based Comp

$30.7M

Previous: $9.29M+230.4%

Revenue & EPS history

Entegris · Revenue · Quarterly

$922M

Q1 2023+42%vs Q1 2022
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Forward guidance

For the second quarter ending July 1, 2023, the Company expects sales of $870 million to $900 million, GAAP net income of $14 million to $21 million and diluted earnings per common share between $0.09 and $0.14. On a non-GAAP basis, the Company expects diluted earnings per common share to range from $0.53 to $0.58, reflecting net income on a non-GAAP basis in the range of $80 million to $87 million.

Tailwinds

  • Sales are expected to be between $870 million and $900 million.
  • GAAP net income is projected to be $14 million to $21 million.
  • Diluted earnings per common share are anticipated to be between $0.09 and $0.14.
  • Non-GAAP diluted earnings per common share are expected to range from $0.53 to $0.58.
  • EBITDA is expected to be approximately 27% to 28% of sales.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+0.5%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+2.2%

Avg return

30 days after

52%

34 / 65 earnings

Positive

+15.5%

Q1 2023

Best reaction

-21.0%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+8.5%-0.1%-7.0%
Q4 2025+9.0%+7.4%-10.1%
Q3 2025-7.5%-8.5%-18.4%
Q1 2025-5.6%-0.8%-12.2%
Q4 2024+5.4%+1.8%-0.9%
Q3 2024-3.7%-1.9%+2.8%
Q2 2024-10.3%-16.8%-5.4%
Q1 2024-4.8%+0.7%-4.9%
Q4 2023+4.0%+8.5%+9.1%
Q3 2023+3.9%+2.9%+21.9%
Q2 2023-2.4%-1.9%-1.0%
Q1 2023+15.5%+17.3%+39.6%
Q4 2022+2.5%+0.6%-1.0%
Q3 2022-21.0%-17.6%-5.7%
Q2 2022-5.0%-4.1%-16.0%
Q1 2022-5.6%-2.8%-5.7%
Q4 2021+10.6%+7.3%+2.5%
Q3 2021-0.8%+3.4%+11.3%
Q2 2021+0.9%+1.6%-2.0%
Q1 2021-0.4%-2.3%-1.2%
Q4 2020-6.4%-7.5%-4.7%
Q3 2020-1.9%-4.0%+11.7%
Q2 2020+8.3%+10.5%+10.9%
Q1 2020-1.2%-0.9%+13.3%
Q4 2019+8.2%+6.0%+3.7%
Q3 2019+0.8%+3.3%-2.4%
Q2 2019+4.4%+5.1%-1.5%
Q1 2019-2.8%+0.0%-14.6%
Q4 2018+1.2%+6.6%+17.2%
Q3 2018+0.4%+8.0%+11.1%
Q2 2018-6.6%-6.8%-11.1%
Q1 2018-2.1%-1.5%+4.2%
Q4 2017+2.3%-0.3%+16.0%
Q3 2017+7.3%+8.8%+7.0%
Q2 2017+2.3%+1.7%-5.6%
Q1 2017+1.2%+2.4%-2.2%
Q4 2016+4.3%+4.5%+12.8%
Q3 2016-1.1%-2.9%+12.1%
Q2 2016+10.8%+11.5%+14.1%
Q1 2016+1.5%
Q4 2015+2.5%
Q3 2015-7.7%
Q2 2015+10.5%
Q1 2015+0.2%
Q4 2014-0.7%
Q3 2014+6.9%
Q2 2014-7.2%
Q1 2014-4.8%
Q4 2013+12.3%
Q3 2013-4.5%
Q2 2013-2.6%
Q1 2013+3.2%
Q4 2012-0.7%
Q3 2012+2.3%
Q2 2012-2.9%
Q1 2011+1.0%
Q1 2012-1.8%
Q1 2010-2.4%
Q4 2009-2.4%
Q4 2011-2.4%
Q4 2010-2.4%
Q3 2010+4.7%
Q3 2011+4.7%
Q2 2010+0.6%
Q2 2011+0.6%

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