Entegris Rallies 9% to 52-Week High on Strong Q1 Guidance
Entegris shares jumped 9.03% to an intra-day peak of $137.05, closing at $133.44 to hit a 52-week high on management’s Q1 guidance of $65M–$77M net income and $785M–$825M sales. In Q4 net income plunged 51.7% to $49.4M as sales fell 3% to $823.9M.
1. Stock Hits 52-Week High
Entegris shares soared to an intra-day peak of $137.05, up 9.03%, and closed at $133.44, marking a 52-week high as investors reacted positively to the company’s fiscal Q1 guidance announced on Tuesday.
2. Q1 Outlook Details
Management forecasted fiscal Q1 net income of $65M to $77M, representing a 3.3% to 22% increase from the $62.9M reported a year earlier, and projected net sales of $785M to $825M, implying growth of 1.5% to 6.7% year-over-year.
3. Q4 Performance Review
In the prior quarter, fiscal Q4 net income fell 51.7% to $49.4M from $102.3M, while net sales declined 3% to $823.9M from $849.8M, underscoring the company’s challenges before the optimistic Q1 outlook.