Entegris, Inc. (NASDAQ: ENTG) has reported its financial results for the fourth quarter ending December 31, 2024. The company recorded net sales of $849,837, representing a 5% increase from the previous year. Adjusted net sales, excluding the impact of divestitures, saw an even more substantial increase of 11% from the prior year.
The gross margin as a percentage of net sales improved to 45.6% compared to 42.4% in the same period last year. Operating margin as a percentage of net sales also saw a significant increase, rising to 17.6% compared to 12.4% in the previous year.
Net income for the fourth quarter of 2024 was $102,243, a substantial jump from $37,977 in the same period in 2023. The GAAP diluted earnings per common share stood at $0.67, up from $0.25 in the previous year.
On a non-GAAP basis, the company reported a diluted earnings per common share of $0.84, a notable increase from $0.65 in the previous year.
Looking ahead, Entegris provided guidance for the first quarter ending March 29, 2025. The company expects sales to range from $775 million to $805 million, representing a 7% year-on-year increase, excluding the impact of divestitures.
In terms of segment results, Entegris operates in two segments: Materials Solutions (MS) and Advanced Purity Solutions (APS).
The company's president and chief executive officer, Bertrand Loy, expressed confidence in the long-term growth outlook of the semiconductor industry, citing the increasing complexity of device architectures and the resulting demand for expertise in materials science and materials purity.
Entegris' management highlighted the company's focus on delivering strong market outperformance and profitability, improving free cash flow, and continuing to invest in critical areas to enhance long-term competitiveness.
The reconciliations of GAAP net sales to adjusted net sales (excluding divestitures), GAAP gross profit to adjusted gross profit, GAAP segment profit to adjusted operating income, GAAP net income to adjusted operating income and adjusted EBITDA, GAAP net income and diluted earnings per common share to non-GAAP net income and diluted non-GAAP earnings per common share, and GAAP outlook to non-GAAP outlook are included in the release.
Entegris is a leading supplier of advanced materials and process solutions for the semiconductor and other high-tech industries and has approximately 8,000 employees worldwide.
For more detailed financial information and future outlook, the company's management's slide presentation concerning the results for the fourth quarter will be posted on the investor relations section of www.entegris.com. As a result of these announcements, the company's shares have moved 4.0% on the market, and are now trading at a price of $108.07. For the full picture, make sure to review Entegris's 8-K report.
