Latest news with #Entegris'
Business Wire
12-05-2025
- Business
- Business Wire
Entegris Announces CEO Succession Plan
BILLERICA, Mass.--(BUSINESS WIRE)--Entegris, Inc. (NASDAQ: ENTG), a leading supplier of advanced materials and process solutions for the semiconductor and other high-technology industries, today announced that Bertrand Loy will retire as President and Chief Executive Officer after 13 years in those roles, effective August 18, 2025. David Reeder will succeed Mr. Loy as President and CEO at that time. Mr. Reeder currently serves on the Entegris Board of Directors and will continue to do so as CEO. Mr. Loy will serve as Executive Chair of the Board through the end of the second quarter of 2026 to facilitate a smooth transition. Mr. Reeder brings to his new role a unique combination of financial and operational leadership experience with large public companies, including extensive semiconductor industry expertise. He most recently served as CFO of Chewy Inc., and previously in leadership roles at global semiconductor companies, including as CFO of GlobalFoundries and in senior roles at Texas Instruments and Broadcom. Mr. Reeder was also CEO at Lexmark International and at Tower Insurance Group. 'Entegris has been my professional home for two decades, and I make the decision to retire not only with enormous gratitude for the opportunity to serve as its CEO, but similarly with confidence in the Company's future,' Mr. Loy said. 'We have accomplished a great deal over the last 13 years, in particular making strides in broadening our technology portfolio, expanding our global infrastructure and creating significant shareholder value. I am proud of our achievements, but I am equally excited about the tremendous opportunities ahead for Entegris. Our global team is Entegris' true competitive advantage, and I know they will continue to bring great value to our customers and shareholders.' Mr. Loy continued, 'I have had the pleasure to get to know Dave well in his role on Entegris' Board. He is an incisive thinker and a decisive leader, with a deep understanding of our technology and the applications we serve, and a strong sense of the priorities that are meaningful for our stakeholders, including and especially our shareholders. I look forward to working closely with Dave during the transition and continuing to support him in my role as Executive Chair.' 'Bertrand's vision and leadership have shaped Entegris into the global industry leader it is today,' said James F. Gentilcore, Lead Independent Director, Entegris Board. 'Under his leadership and through a rapidly evolving technological and geopolitical landscape, Entegris' revenue and market capitalization grew nearly five times and over 10 times, respectively. On behalf of the Board, I want to express our immense gratitude for his two decades of service, his continued commitment to the Company, and the solid foundation he leaves behind.' Mr. Gentilcore continued, 'The Board recognizes that succession planning is one of its most critical duties. After careful consideration of internal and external candidates, we are confident that Dave is the ideal leader for this moment in Entegris' evolution. Dave has semiconductor industry expertise and proven global leadership capabilities, as demonstrated both through his career accomplishments and his contributions within our boardroom. We are confident that having Dave take on the CEO role is the right decision for the business as we continue our efforts to elevate Entegris to the next level of excellence and outperform our competition.' 'I am grateful for the Board's confidence in me to lead Entegris into its next phase of growth,' Mr. Reeder said. 'As a director, I have seen firsthand the organization's commitment to continuous improvement, creativity and the quest for excellence in all we do. These are values that speak to me on a personal and professional level, and I am eager to work with the team to build on this strong culture, capture the opportunities ahead of us, and deliver compelling value for our shareholders, customers, and our employees.' About David Reeder Mr. Reeder is a seasoned executive with considerable experience as both a CEO and CFO, bringing more than 20 years of semiconductor expertise across IDMs, fabless, foundry, systems and component companies. His most recent semiconductor experience was at GlobalFoundries Inc. (GFS), where as CFO he spearheaded the Company's IPO, the largest ever semiconductor IPO at the time. At GFS, Mr. Reeder also oversaw critical functions including operations, supply chain, procurement and IT. A globally focused leader, he has spent over a decade abroad working in Asia and Europe, driving semiconductor innovation and growth. He has a Bachelor's in Chemical Engineering from the University of Arkansas and a Masters of Business Administration from Southern Methodist University. About Entegris Entegris is a leading supplier of advanced materials and process solutions for the semiconductor and other high-tech industries. Entegris has approximately 8,000 employees throughout its global operations and is ISO 9001 certified. It has manufacturing, customer service and/or research facilities in the United States, Canada, China, Germany, Israel, Japan, Malaysia, Singapore, South Korea, and Taiwan. Additional information can be found at Cautionary Note on Forward-Looking Statements This news release contains 'forward-looking statements.' The words 'believe,' 'expect,' 'anticipate,' 'intend,' 'estimate,' 'forecast,' 'project,' 'should,' 'may,' 'will,' 'would' or the negative thereof and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are based on current management expectations and assumptions only as of the date of this news release. They are not guarantees of future performance and they involve substantial risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, but are not limited to, disruptions to our business, including our retention efforts and relationships with external stakeholders due to the changes in our senior management; challenges in attracting and retaining qualified personnel; the Company's ability to effectively implement any organizational changes; and other matters. These risks and uncertainties also include, but are not limited to, the risk factors and additional information described in the Company's filings with the U.S. Securities and Exchange Commission (the 'SEC'), including under the heading 'Risk Factors' in Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed on February 12, 2025, and in the Company's other SEC filings. Except as required under the federal securities laws and the rules and regulations of the SEC, the Company undertakes no obligation to update publicly any forward-looking statements or information contained herein, which speak only as of their respective dates.
Yahoo
09-05-2025
- Business
- Yahoo
ENTG Q1 Earnings Call: Tariffs and CapEx Slowdown Weigh on Outlook as Strategic Investments Continue
Semiconductor materials supplier Entegris (NASDAQ:ENTG) missed Wall Street's revenue expectations in Q1 CY2025, with sales flat year on year at $773.2 million. On the other hand, the company expects next quarter's revenue to be around $755 million, close to analysts' estimates. Its non-GAAP profit of $0.67 per share was 2.4% below analysts' consensus estimates. Is now the time to buy ENTG? Find out in our full research report (it's free). Revenue: $773.2 million vs analyst estimates of $789.9 million (flat year on year, 2.1% miss) Adjusted EPS: $0.67 vs analyst expectations of $0.68 (2.4% miss) Adjusted EBITDA: $220.7 million vs analyst estimates of $226.6 million (28.5% margin, 2.6% miss) Revenue Guidance for Q2 CY2025 is $755 million at the midpoint, roughly in line with what analysts were expecting Adjusted EPS guidance for Q2 CY2025 is $0.64 at the midpoint, below analyst estimates of $0.71 Operating Margin: 15.8%, in line with the same quarter last year Free Cash Flow Margin: 4.2%, down from 10.4% in the same quarter last year Inventory Days Outstanding: 147, up from 126 in the previous quarter Market Capitalization: $11.67 billion Entegris' first quarter results reflected headwinds from softer demand in capital equipment products and the early impact of new U.S.-China semiconductor tariffs. Management attributed the flat sales performance to a significant contraction in fluid handling and FOUPs, which are tied to new fab construction, especially in Asia, while highlighting growth in Materials Solutions and micro-contamination control products. CEO Bertrand Loy noted, 'we grew in spite of this CapEx headwind,' pointing to ongoing progress in new product qualifications and manufacturing investments. Looking ahead, management flagged the uncertainty created by new tariffs as the main reason for broadening guidance and holding back from updating the full-year outlook. Loy stated, 'the environment created by new tariff regimes is the source of significant uncertainty,' and explained that while ex-China business trends remain solid, the company is taking a more cautious stance until the direct and indirect effects on customer demand become clearer. CFO Linda LaGorga emphasized ongoing cost discipline and a strong focus on free cash flow improvement, with prioritized investments in global manufacturing and supply chain resiliency. Management's remarks focused on the combination of external trade pressures and internal strategic execution as the main themes shaping Q1 performance and the near-term outlook. Materials Solutions Momentum: Materials Solutions sales rose, driven by nearly 20% growth in CMP (chemical mechanical planarization) slurries and pads, offsetting some of the weakness in capital equipment-related products. Micro Contamination Control Demand: Advanced Purity Solutions (APS) saw growth in micro contamination control, with management citing a customer win in Korea that addressed a complex purity challenge in HBM (high-bandwidth memory) manufacturing. Tariff and Trade Impact: Newly imposed Chinese tariffs on U.S. semiconductor imports resulted in halted shipments to China, creating up to a $50 million revenue risk for Q2. Management outlined plans to redirect production to alternative Asian sites, but acknowledged a timing lag before mitigation is fully effective. Global Manufacturing Footprint Expansion: Entegris progressed with its Colorado and Taiwan facility investments, emphasizing redundancy and regional supply chain integration as a hedge against geopolitical and logistical risks. Selective Cost Controls: Management reported holding onto 75% of APS division cost savings rather than fully reinvesting, aiming to stabilize margins in the face of lower CapEx product demand and working capital pressure from elevated inventory days outstanding. Management's outlook for the coming quarters is shaped by external trade challenges, ongoing investment in manufacturing, and anticipated semiconductor node transitions. Tariff Mitigation and Supply Chain Shifts: The company's ability to reroute affected China-bound shipments from U.S. to Asian manufacturing sites is expected to determine the speed of revenue recovery and margin stabilization. Semiconductor Node Transitions: Management expects key technology upgrades—particularly increased adoption of molybdenum (moly) materials in memory and logic chips—to drive incremental content gains for Entegris in late 2025 and beyond. CapEx Product Demand Uncertainty: Ongoing softness in fab construction, especially in major Asian markets and North America, remains a risk for capital equipment product lines, partially offset by anticipated strength in consumable products as wafer starts improve. Melissa Weathers (Deutsche Bank): Asked if the Q2 sales guidance shortfall was fully due to tariffs or if cyclical weakness played a role; management clarified that ex-China, business trends are solid, and the Q2 impact is almost entirely tariff-related. Charles Shi (Needham): Questioned how much lost China revenue could be recovered in later quarters; management believes the impact is temporary and expects most business to shift to qualified Asian sites over time. Atif Malik (Citi): Sought detail on gross margin drivers for Q2 amid tariffs; CFO LaGorga explained that gross margin is pressured by tariffs and some volume deleveraging, but mitigation measures are underway. Timothy Arcuri (UBS): Asked if China customers might permanently switch to local alternatives; CEO Loy responded that Entegris' solutions are valued for performance and yield, and customers are actively qualifying alternative Entegris sites. Christopher Parkinson (Wolfe Research): Requested updates on node transitions and Taiwan facility progress; management expects key memory and logic node ramps to stay on schedule and highlighted the ongoing scale-up of the Kaohsiung, Taiwan plant. Looking forward, the StockStory team will be monitoring (1) the pace at which Entegris can shift China-bound shipments to its Asian manufacturing network, (2) the company's ability to sustain growth in Materials Solutions and micro contamination control segments amid CapEx headwinds, and (3) progress on customer qualifications and production ramp-up at new facilities in Colorado and Taiwan. Execution on these fronts, along with ongoing tariff mitigation, will be critical for stability and growth. Entegris currently trades at a forward P/E ratio of 22×. At this valuation, is it a buy or sell post earnings? The answer lies in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. 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Yahoo
09-02-2025
- Business
- Yahoo
Results: Entegris, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates
It's been a good week for Entegris, Inc. (NASDAQ:ENTG) shareholders, because the company has just released its latest annual results, and the shares gained 4.9% to US$107. Revenues were US$3.2b, approximately in line with expectations, although statutory earnings per share (EPS) performed substantially better. EPS of US$1.93 were also better than expected, beating analyst predictions by 12%. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year. Check out our latest analysis for Entegris After the latest results, the nine analysts covering Entegris are now predicting revenues of US$3.42b in 2025. If met, this would reflect a reasonable 5.6% improvement in revenue compared to the last 12 months. Per-share earnings are expected to accumulate 6.3% to US$2.06. Before this earnings report, the analysts had been forecasting revenues of US$3.50b and earnings per share (EPS) of US$2.54 in 2025. From this we can that sentiment has definitely become more bearish after the latest results, leading to lower revenue forecasts and a real cut to earnings per share estimates. The analysts made no major changes to their price target of US$128, suggesting the downgrades are not expected to have a long-term impact on Entegris' valuation. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on Entegris, with the most bullish analyst valuing it at US$150 and the most bearish at US$115 per share. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth. Of course, another way to look at these forecasts is to place them into context against the industry itself. It's pretty clear that there is an expectation that Entegris' revenue growth will slow down substantially, with revenues to the end of 2025 expected to display 5.6% growth on an annualised basis. This is compared to a historical growth rate of 17% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 17% annually. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than Entegris. The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Entegris. On the negative side, they also downgraded their revenue estimates, and forecasts imply they will perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates. With that in mind, we wouldn't be too quick to come to a conclusion on Entegris. Long-term earnings power is much more important than next year's profits. At Simply Wall St, we have a full range of analyst estimates for Entegris going out to 2027, and you can see them free on our platform here.. Plus, you should also learn about the 1 warning sign we've spotted with Entegris . Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
