Update: Entegris Q2 Earnings And Sales Slightly Beat Estimates But Q3 Guidance Disappoints - Stock Down 5%
Martin Vlcek • Tue, Jul. 29
- Entegris reported a solid quarter with $251.6M in sales, $0.11 GAAP loss per share and $0.20 Non-GAAP profit per share. However, Q3 guidance fell short of consensus estimates.
- ENTG exceeded expectations and price target of my long thesis due to the acquisition announced later in the year. A potential larger acquisition was mentioned by ENTG and my thesis.
- I remain bullish on ENTG and raise my target price to $14 per share based on the ATMI acquisition, and current sales and earnings outlook.