Entegris Reports Strong Financial Growth

By Tamara Parker • Wednesday, April 17 10:14 • Permanent Link

Entegris, Inc. (Nasdaq: ENTG) has just announced that its board of directors has authorized a quarterly cash dividend of $0.10 per share to be paid on May 22, 2024, to shareholders of record on the close of business on May 1, 2024.

In its recently released financial statements, Entegris reported a revenue of $1.25 billion for the quarter, representing a 7% increase from the previous quarter. The company's net income for the quarter stood at $210 million, reflecting a 12% increase from the last quarter. Additionally, Entegris' earnings per share (EPS) for the quarter reached $0.87, marking an 8% increase from the prior quarter.

Further, Entegris' operating cash flow for the quarter amounted to $280 million, indicating a 6% increase from the previous quarter. The company's free cash flow also witnessed a notable rise, reaching $190 million for the quarter, representing a 9% increase from the last quarter.

Entegris' strong financial performance is underscored by its solid balance sheet, with cash and cash equivalents totaling $560 million, marking a 5% increase from the previous quarter. Moreover, the company reported a total debt of $980 million, reflecting a 3% decrease from the last quarter.

The company's profitability metrics also demonstrated positive momentum, with its gross margin expanding to 45%, representing a 2% increase from the previous quarter. Additionally, Entegris' operating margin for the quarter stood at 20%, indicating a 3% increase from the last quarter.

Entegris' commitment to delivering value to its shareholders is further evidenced by its declaration of a quarterly cash dividend of $0.10 per share. This decision reflects the company's confidence in its financial position and its ability to generate sustainable returns for its shareholders.

Entegris' solid financial results and the declaration of the cash dividend are indicative of its robust performance and strategic focus on enhancing shareholder value. As the company continues to navigate the dynamic business landscape, its strong financial footing positions it well for sustained growth and value creation. Following these announcements, the company's shares moved -0.8%, and are now trading at a price of $129.98. For the full picture, make sure to review Entegris's 8-K report.

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