Entegris Tops Q4 Consensus; Issues Q1 Outlook Above Street View

Entegris Inc ENTG reported fourth-quarter FY21 sales growth of 23% year-on-year to $635.2 million, beating the consensus of $593.4 million.
Revenue from Specialty Chemicals and Engineered Materials segment rose 11.5% Y/Y to $188 million; Microcontamination Control expanded 25.9% Y/Y to $258.9 million; Advanced Materials Handling improved 30.3% Y/Y to $197.7 million.
Margins: The adjusted gross margin expanded 190 basis points to 46.5%, and the adjusted operating margin expanded 330 basis points to 27.8%.
The non-GAAP EPS of $0.96 beat the consensus of $0.89.
Entegris generated $115.98 million in operating cash flow during the quarter. It held $402.6 million in cash and equivalents.
Outlook: Entegris sees Q1 sales of $630 million - $650 million, above the consensus of $595.9 million. It sees non-GAAP EPS of $0.96 - $1.01, above the consensus of $0.89.
Bertrand Loy, the CEO, said: "Our strong position in leading-edge solutions that are of increasing importance to customers drove this above-market growth."
Loy added: "Market demand is expected to be strong in 2022, and we have increased conviction in the secular growth of the semiconductor market."
Price Action: ENTG shares closed higher by 7.49% at $119.84 on Monday.

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