Entegris, Inc. reported net sales of $807.7 million for the third quarter ended September 28, 2024. This represents a 9.1% decrease year-over-year from $888.2 million in Q3 2023 and a 0.6% sequential decrease from $812.7 million in Q2 2024. Despite the sales decline, the company's non-GAAP diluted earnings per common share increased to $0.77, up from $0.68 in the prior year quarter and $0.71 sequentially.
The company's gross margin stood at 46.0%, an increase from 41.3% in Q3 2023, while adjusted EBITDA was 28.8% of net sales, up from 26.5% year-over-year. Entegris also announced a strategic realignment of its operating structure, effective October 30, 2024, combining the Microcontamination Control (MC) and Advanced Materials Handling (AMH) segments into a new Advanced Purity Solutions (APS) segment, alongside its existing Materials Solutions (MS) segment.
For the fourth quarter ending December 31, 2024, Entegris provided guidance expecting sales between $810 million and $840 million. Non-GAAP diluted earnings per common share are projected to range from $0.75 to $0.82, with an adjusted EBITDA margin anticipated to be between 28.5% and 29.5% of sales. Management noted that the market recovery is taking longer than anticipated, with AI applications performing well but the rest of the industry remaining challenged.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.