NASDAQ$ENTG

Entegris Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Reported solid execution and proforma growth despite economic uncertainty.

Entegris reported third-quarter revenue of $994 million, a 71% increase year-over-year. GAAP diluted EPS was ($0.50), while non-GAAP diluted EPS was $0.85. The company is progressing with the integration of CMC Materials and expects strong growth for the full year 2022, exceeding market performance.

  • Third-quarter revenue (as reported) of $994 million, increased 71% from prior year
  • Third-quarter revenue (proforma), increased 14%
  • Third-quarter GAAP diluted EPS of ($0.50)
  • Third-quarter non-GAAP diluted EPS of $0.85

Headline financials

Total Revenue

$994M

Previous: $579M+71.5%
EPS (adj)

$0.85

Previous: $0.92-7.6%
GAAP Operating Margin

1.5%

Previous: 24.0%-93.8%
Adjusted Operating Margin

25.5%

Previous: 26.3%-3.0%
Capital Expenditures

-$319M

Previous: -$134M-138.0%
Free Cash Flow

-$393M

Previous: -$16.5M-2275.4%
Net Income

-$73.7M

Previous: $117M-162.7%
Operating Income

$14.9M

Previous: $139M-89.3%
Gross Profit

$372M

Previous: $264M+40.7%
Cash & Equivalents

$753M

Previous: $476M+58.2%
Total Assets

$10.1B

Previous: $3.01B+236.4%
Stock-Based Comp

$38.1M

Previous: $7.47M+409.9%

Revenue & EPS history

Entegris · Revenue · Quarterly

$994M

Q3 2022+71.5%vs Q3 2021
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Forward guidance

For the fourth quarter ending December 31, 2022, the Company expects sales of $930 million to $970 million, net income of $42 million to $50 million and diluted earnings per common share between $0.28 and $0.33. On a non-GAAP basis, the Company expects diluted earnings per common share to range from $0.75 to $0.80, reflecting net income on a non-GAAP basis in the range of $112 million to $120 million. The company also expects EBITDA of approximately 29% of sales, for the fourth quarter of 2022.

Headwinds

  • The company estimates that the impact of the U.S. government’s announced new export controls restricting the sale of semiconductor technology to certain companies in China will reduce sales by approximately $40 million to $50 million in the fourth quarter of 2022

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 Q3 2022

Historical avgQ3 2022

+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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