Entegris (ENTG) Q3 2026 Earnings Report
MX:ENTG Q3 2026 EPS Results
- Actual EPS
- MXN 23.11
- Consensus EPS
- MXN 19.31
- Beat/Miss
- Beat by +MXN 3.79
- One Year Ago EPS
- MXN 13.53
MX:ENTG Q3 2026 Revenue Results
- Actual Revenue
- MXN 18.89B
- Expected Revenue
- MXN 17.38B
- Beat/Miss
- Beat by +MXN 1.51B
- YoY Revenue Growth
- +24.61%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- Before Open
- Conference Call
- Thursday, October 29, 2026
Entegris's next earnings date is estimated for February 16, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive. Entegris reported record revenue, substantial margin and earnings expansion, broad-based segment and geographic growth, stronger backlog, record cash flow and accelerated debt reduction. Management also described strong customer engagement, expanding capacity and supportive AI- and leading-edge-driven demand. The main challenges were normal seasonal Q1 moderation, underutilized mainstream markets, identified capacity pinch points, a flat China business and continued dilution from KSP and Colorado, but these issues were outweighed by the reported operational and financial progress.
Entegris expects Q4 sales to range between $1.025 billion and $1.055 billion, with the midpoint representing an increase of approximately 26% year-over-year; gross margin is expected to be between 49.2% and 49.7% both on a GAAP and non-GAAP basis, with approximately 50 basis points of improvement sequentially and approximately 550 basis points of improvement year-over-year at the midpoint; GAAP operating expenses are expected to be approximately $272 million and non-GAAP operating expenses approximately $227 million, adjusted EBITDA margin approximately 31%, net interest expense approximately $40 million, a non-GAAP tax rate of approximately 15%, depreciation approximately $34 million, GAAP EPS between $1.09 and $1.17 per share and non-GAAP EPS between $1.32 and $1.40 per share, based on approximately 154 million shares. CapEx is expected to be approximately $200 million for 2026 or about 1/3 lower than last year, wafer starts growth is expected to be approximately 8% in 2026, and Q1 revenue is expected to decline by a mid-single-digit percentage compared to Q4 but increase by more than 20% year-over-year, with double-digit growth for both MS and APS; for 2027, industry forecasts call for MSI growth to broadly be consistent with what we saw this year, while all indications point to another strong double-digit growth year for both WFE as well as for fab construction.
- Record Revenue and Broad-Based GrowthThird-quarter revenue reached a record $1.006 billion, increasing 25% year-over-year and 14% sequentially. Growth was broad-based, with APS revenue up 31% year-over-year and MS revenue up 16%.
- Adjusted Gross Margin Reached a 25-Year HighAdjusted gross margin was 48.9%, improving 130 basis points sequentially and 530 basis points year-over-year, reaching its highest level in more than 25 years. The improvement reflected higher volumes, fixed-cost absorption, improved yields and productivity.
- Strong Earnings Growth and Operating LeverageNon-GAAP net income increased 73% year-over-year to $190 million. Adjusted EBITDA was $303 million, or 30.2% of sales, compared with 27.3% a year ago and 28.4% in the second quarter. Non-GAAP EPS was $1.23, up 71% year-over-year.
- Production Execution Converted Backlog Into RevenueThe company said the third-quarter revenue beat was primarily driven by execution: production and throughput increased beyond expectations, allowing Entegris to convert more existing demand and backlog into revenue. The company also increased manufacturing output, productivity and yield.
- Unit-Driven Revenue AcceleratedUnit-driven revenue growth accelerated from approximately 6% in the first quarter to 20% in the third quarter, roughly twice the rate of expected underlying wafer-start growth for the year. The increase reflected higher industry volumes and greater Entegris content as semiconductor processes become more complex.
- CapEx-Related Revenue Rebounded StronglyRevenue across CapEx-related businesses increased from a modest decline at the beginning of the year to more than 35% growth in the third quarter, particularly in WFE. Increased production and backlog conversion resulted in growth above expectations.
- Strong Backlog and Book-to-BillBook-to-bill remained significantly above 1. Backlog increased more than 35% sequentially and more than doubled compared with the prior year. Customers are providing longer planning horizons, giving the company greater visibility into capacity ramps and required Entegris content.
- New Plans of Record Across Both SegmentsEntegris won a significant EUV filtration application at 2-nanometer, an advanced materials plan of record with a major smartphone and technology provider, and multiple CMP plans of record with leading memory providers. The wins span both segments and multiple technology applications.
- Materials Solutions Growth and Margin ExpansionMaterials Solutions revenue was $404 million, up 16% year-over-year and 9% sequentially, its highest quarterly revenue since the third quarter of 2023. Growth was broad across CMP consumables, advanced deposition materials, specialty gases and coatings. MS adjusted segment margin was approximately 20.4%, supported by higher volume and improved productivity.
- Advanced Process Solutions Reached a Revenue RecordAPS revenue was $605 million, up 31% year-over-year and 18% sequentially, reaching a new quarterly record. Growth reflected higher production, advanced-node transitions and increased contamination-control requirements, as well as capital investments in leading-edge capacity. APS adjusted operating margin was 34.4%.
- Geographic Growth Was BroadGrowth was strongest in markets investing at the leading edge. Taiwan remained the largest growth contributor, with third-quarter year-over-year growth of 41%; North America grew 22%, Southeast Asia 51% and Japan 29%. Korea and Southeast Asia also showed strong momentum.
- Record Cash Flow and Debt ReductionOperating cash flow and free cash flow both reached records, with third-quarter free cash flow of $224 million, or 22.2% of sales. Strong cash generation enabled Entegris to fully repay its 2029 term loan ahead of schedule. Net leverage improved to 2.9x, with the company expecting approximately 2.7x at year-end, more than a turn better than at the start of the year.
- Positive Fourth-Quarter OutlookFourth-quarter sales are expected to range from $1.025 billion to $1.055 billion. At the midpoint, this represents approximately 26% year-over-year growth. Gross margin is expected to be 49.2% to 49.7%, with approximately 31% adjusted EBITDA margin and non-GAAP EPS of $1.32 to $1.40.
- Continued Growth Expected Into Q1Despite an expected mid-single-digit sequential revenue decline in the first quarter due to normal seasonality and fewer selling days, Entegris expects first-quarter revenue to increase more than 20% year-over-year. Management said underlying demand, orders and customer momentum remain strong.
- Supportive Semiconductor Industry BackdropManagement expects approximately 8% wafer-start growth in 2026, with leading-edge logic and memory showing the strongest growth and advanced-node utilization remaining high. Industry CapEx trends continue to strengthen as projects move from construction to equipment installation and production.
- Longer-Term Demand From Technology Complexity and AIManagement said continued investment in AI infrastructure and increasing semiconductor complexity are driving demand for more materials, layers, purity and contamination control. Entegris expects technology transitions, including 2-nanometer and below, to create opportunities for higher content.
- Capacity and Productivity Investments Are Expanding OutputThe company has been unlocking embedded capacity by adding headcount, improving productivity, increasing inventory, centralizing procurement and optimizing its manufacturing network. Management said it has more capacity now than at the beginning of the year despite closing three dilutive facilities.
- KSP South Reached Gross-Profit BreakevenKSP South reached gross-profit breakeven in the third quarter. Management expects the business to ramp further in the next year and continue improving.
- Customer Engagement and Commercial Activity StrengthenedManagement said customer and engineering engagements have never been stronger, with Entegris engaging earlier in technology road maps. This is translating into co-development, qualifications, plan-of-record wins, quick spends and derivative-product opportunities.
- No Material Pricing Benefit Included in ResultsThe company reported that the 530-basis-point year-over-year adjusted gross-margin improvement was achieved independently of any material pricing action. Any pricing actions would apply to new orders rather than existing backlog.
MX:ENTG Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 16, 2027 | 2026 (Q4) | 24.95- | 13.15 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | 19.3123.11 | 13.53 | 70.83% (+9.58) | |
| Aug 04, 2026 | 2026 (Q2) | 15.4417.47 | 12.4 | 40.91% (+5.07) | |
| Apr 30, 2026 | 2026 (Q1) | 14.0016.16 | 12.59 | 28.36% (+3.57) | |
| Feb 10, 2026 | 2025 (Q4) | 12.5313.15 | 15.78 | -16.67% (-2.63) | |
| Oct 30, 2025 | 2025 (Q3) | 13.6013.53 | 14.47 | -6.49% (-0.94) | |
| Jul 30, 2025 | 2025 (Q2) | 12.1212.40 | 13.34 | -7.04% (-0.94) | |
| May 07, 2025 | 2025 (Q1) | 12.8112.59 | 12.77 | -1.47% (-0.19) | |
| Feb 06, 2025 | 2024 (Q4) | 14.6515.78 | 12.21 | 29.23% (+3.57) | |
| Nov 04, 2024 | 2024 (Q3) | 14.6314.47 | 12.77 | 13.24% (+1.69) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.