Entegris (ENTG) Tops Q1 EPS by 3c, Revenues Miss

Entegris (NASDAQ: ENTG) reported Q1 EPS of $0.55, $0.03 better than the analyst estimate of $0.52. Revenue for the quarter came in at $412.33 million versus the consensus estimate of $417.41 million.

Bertrand Loy, president and chief executive officer, said: “During these unprecedented times, our first priority is to ensure the health and safety of our colleagues and families, while continuing to provide exceptional service to our customers. In light of the significant challenges from Covid-19, I’m pleased with our first quarter results. Despite major supply-chain shutdowns across many industries, our manufacturing operations were only modestly impacted by Covid-19, as a direct result of the extraordinary efforts of our Entegris teams and extended supply chain partners around the world.”

Mr. Loy added: “While the demand for our products will likely be impacted by the ongoing effects of Covid-19 on the global economy, we remain very optimistic about the long-term prospects of the industry and the criticality of our solutions. Our team has very effectively managed challenging times in the past and will take the necessary steps to align our business to market conditions as they evolve. Entegris is in a strong financial position and has sufficient liquidity to navigate through this environment.”

For earnings history and earnings-related data on Entegris (ENTG) click here.

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