Entegris Q2 sales beat on increased semiconductor demand
ENTG•Third-quarter outlook
The company expects third-quarter net sales of $905 million to $935 million.
Entegris sees third-quarter GAAP diluted EPS of $0.75 to $0.83 and non-GAAP diluted EPS of $0.96 to $1.04.
Key results and analyst context
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Sales | Beat | $883.20 million | $835.18 million (10 analysts) |
| Q2 EPS | $0.61 | ||
| Q2 Gross Profit | $420 million | ||
| Q2 Operating Income | $164.60 million |
The company said operational initiatives enhanced profitability and cash generation.
The current average analyst rating on the shares is "buy", with 8 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell" recommendations. Wall Street's median 12-month price target is $165.00, about 31.8% above the August 3 closing price of $125.20. The stock recently traded at next-12-month earnings, down from a P/E of three months ago.
