Semiconductor materials supplier Entegris (NASDAQ: ENTG) will be reporting results tomorrow before the bell. Here’s what you need to know.
Entegris beat analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $812.7 million, down 9.8% year on year. It was a mixed quarter for the company, with a significant improvement in its gross margin but underwhelming revenue guidance for the next quarter.
Is Entegris a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Entegris’s revenue to decline 6.3% year on year to $832.4 million, improving from the 10.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.78 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Entegris has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Entegris’s peers in the semiconductor manufacturing segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Teradyne delivered year-on-year revenue growth of 4.8%, beating analysts’ expectations by 3%, and Lam Research reported revenues up 19.7%, topping estimates by 2.7%. Teradyne traded down 11.1% following the results while Lam Research was up 4.8%.
Read our full analysis of Teradyne’s results here and Lam Research’s results here.
Inflation fears have put pressure on growth stocks, and while some of the semiconductor manufacturing stocks have fared somewhat better, they have not been spared, with share prices down 4.6% on average over the last month. Entegris is down 5.6% during the same time and is heading into earnings with an average analyst price target of $142.39 (compared to the current share price of $104).
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