Entegris reports Q3 non-GAAP EPS 77c, consensus 78c

Reports Q3 revenue $808M, consensus $832.38M. Bertrand Loy, Entegris (ENTG)’ president and CEO, said: “The team delivered margins and non-GAAP EPS within our guidance range, despite Q3 sales coming in below expectations, with revenue growth excluding divestitures of 7% year-on-year.” Loy added: “2024 is a transition year for the semiconductor industry. The market recovery is taking longer than anticipated and 2024 continues to be a year of limited technology transitions. Customers with significant exposure to AI applications are performing well, but the rest of the industry continues to be challenged. In this environment, we remain focused on maintaining strong profitability while continuing to fund critical investments that further improve our technology leadership and position us to benefit as market demand accelerates.”