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- Entegris Inc ENTG reported second-quarter FY21 sales growth of 27% year-on-year to $571.4 million, beating the analyst consensus of $523.3 million.
- Revenue growth was strong across all three divisions, as it benefited from accelerating demand for its leading unit-driven and CAPEX-driven product lines, CEO Bertrand Loy stated.
- Revenue from Specialty Chemicals and Engineered Materials rose 23.4% Y/Y to $180.4 million, Microcontamination Control expanded 23.8% Y/Y to $227.5 million, and Advanced Materials Handling improved 36.4% Y/Y to $172.5 million.
- The adjusted gross margin expanded 40 basis points to 46.4%, and adjusted operating margin expanded 180 basis points to 26.5%.
- The non-GAAP EPS of $0.85 beat the analyst consensus of $0.73.
- Entegris generated $81.9 million in operating cash flow and held $401 million in cash and equivalents.
- The encouraging long-term fundamentals of the semiconductor market, the quickening of the pace of node transitions for both logic and memory, and complex device architectures work for Entegris, Loy added.
- Outlook: ENTG sees Q3 sales of $575 million - $590 million above the analyst consensus of $561 million. It sees non-GAAP EPS of $0.84 - $0.89 above the analyst consensus of $0.83.
- Price action: ENTG shares closed higher by 0.07% at $118.76 on Monday.
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