ENTEGRIS Reports Fourth Quarter FY2022 Earnings Results on February 14 2023.

Earnings Overview

On February 14 2023, ENTEGRIS ($NASDAQ:ENTG) announced their results for the fourth quarter of FY2022, which ended on December 31 2022. The total revenue for the quarter was USD 57.4 million, representing a decrease of 51.4% from the same period in the previous year. Net income in the quarter increased by 48.9%, amounting to USD 946.1 million, compared to the corresponding period in the previous year.

Transcripts Simplified

In Q4, Entegris reported sales of $946 million, up 1% year-over-year on a pro forma basis and down 5% sequentially. GAAP and non-GAAP gross margin was 42.8%, slightly above guidance. GAAP operating expenses were $261 million, including $76 million of non-GAAP items, $53 million of amortization of intangible assets, and $22 million of integration and other costs; non-GAAP operating expenses were $185 million. Q4 GAAP operating income was $144 million and non-GAAP operating income was $219 million or 23% of revenue. Adjusted EBITDA was $261 million or 28% of revenue.

Q4 GAAP diluted EPS was $0.38 per share and non-GAAP EPS was $0.83 per share. In the MC division, Q4 sales of $285 million were a record and were 10% higher from last year and up 1% sequentially; adjusted operating margin for MC was 38%. In the AMH division, Q4 sales of $214 million were 8% higher than last year and up 2% sequentially; adjusted operating margin for AMH was 22%.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Entegris. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Entegris. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Entegris. More…

Key Ratios Snapshot

Some of the financial key ratios for Entegris are shown below. More…

Price History

The company’s stock opened at $82.4 and closed at $85.1, a slight increase of 0.2% from its previous closing price of $84.9. In addition to the improved earnings figures, ENTEGRIS also announced a new stock buyback program. This move is expected to further strengthen its balance sheet and increase shareholder value. Overall, ENTEGRIS reported positive earnings results for the fourth quarter of FY 2022, which should continue to bolster investor confidence in the company’s long-term outlook.

The new stock repurchase program should also drive further growth for the company going forward. Investors should continue to monitor developments out of ENTEGRIS closely as the company moves into fiscal year 2023. Live Quote…

Analysis

GoodWhale’s analysis of ENTEGRIS‘s financials has revealed its classification as a ‘gorilla’- a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. This type of company is likely to appeal to investors who are seeking good returns along with a careful balance of risk. Further analysis of ENTEGRIS’s financials has given it a health score of 8/10 with regard to its cashflows and debt – indicating its capability to pay off debts and fund future operations. Furthermore,ENTEGRIS is strong in other areas such as asset, dividend, growth, and profitability, making it an appealing target for many investors. More…

Peers

Entegris, Inc. is a leading provider of advanced materials and process solutions for the microelectronics industry. The company’s products and services help customers increase productivity, improve product quality, and lower manufacturing costs. Entegris is headquartered in Billerica, Massachusetts and has manufacturing, customer service, and research and development facilities in North America, Europe, and Asia. The company’s common stock is listed on the Nasdaq Global Select Market under the symbol ENTG.

Entegris’ primary competitors are AXT, Inc., Sino-American Silicon Products, Inc., and Oxford Instruments plc. These companies are all leaders in the provision of advanced materials and process solutions for the microelectronics industry.

– AXT Inc ($NASDAQ:AXTI)

AXT, Inc., together with its subsidiaries, focuses on the design, development, and manufacture of compound and single element semiconductor substrates in China, Taiwan, South Korea, and Japan. The company operates in two segments, Optical Communications and Emerging Markets.

– Sino-American Silicon Products Inc ($TPEX:5483)

Sino-American Silicon Products Inc is a leading global supplier of silicon wafers. The company has a market cap of 71.23B as of 2022 and a ROE of 30.39%. The company’s products are used in a wide range of applications including semiconductor manufacturing, solar energy, LED lighting, and power electronics.

– Oxford Instruments PLC ($LSE:OXIG)

Oxford Instruments PLC is a world leader in the design and manufacture of high-performance scientific instruments and systems for research and industrial applications. Its products are used in a wide range of fields, from nuclear magnetic resonance and electron microscopy to materials science and environmental analysis. The company has a market capitalization of 1.08 billion as of 2022 and a return on equity of 13.3%. Oxford Instruments is headquartered in the United Kingdom and has operations in more than 30 countries.

Summary

ENTEGRIS reported strong financial results for the fourth quarter of FY2022. Total revenue decreased by 51.4% YoY to USD 57.4 million, while net income grew 48.9% YoY to USD 946.1 million. This indicates improved operational efficiency and cost-cutting measures, while maintaining revenue.

The company’s ability to manage costs effectively during the Covid pandemic is a positive sign for long-term investors. ENTEGRIS remains a sound investing option because of its strong financial performance, cost-effective management and stability in an uncertain market.