Entegris reports Q2 non-GAAP EPS 71c, consensus 71c

Reports Q2 revenue $813M, consensus $802.44M. CEO Bertrand Loy said: “The Entegris team delivered another quarter of strong performance and execution. Sales excluding divestitures increased 10% sequentially and were up in all three divisions and in most product lines. 2024 continues to be a transition year for the semiconductor industry. We feel good about the improving fundamentals of the semi market and expect it will gradually recover in the second half of this year, albeit at a more moderate pace than previously expected. In the second half of 2024, we will continue to position the company for strong growth acceleration into 2025. The compounding process complexity of our customers’ roadmaps is making Entegris expertise in materials science and materials purity increasingly valuable,” he said. “This is expected to translate into higher Entegris content per wafer, expanding served market, and fuel our market outperformance.”