MKS Instruments, Inc. (MKSI) Tops Q4 EPS by 32c, Revenues Beat; Offers 1Q EPS Mid-Point Guidance Above Consensus, 1Q Revenue Outlook Above Consensus

January 27, 2021 4:35 PM EST
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Price: $186.82 -0.76%

Revenue Growth %: +32.0%

Financial Fact:
Products: 335.16M

Today's EPS Names:
CVU, BK, KSU, More
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MKS Instruments, Inc. (NASDAQ: MKSI) reported Q4 EPS of $2.34, $0.32 better than the analyst estimate of $2.02. Revenue for the quarter came in at $660 million versus the consensus estimate of $602.98 million.

  • Record quarterly revenue of $660 million, up 32% year-over-year
  • Record quarterly Non-GAAP net earnings of $130 million, up 96% year-over-year, and quarterly net income of $116 million, up 170% year-over-year
  • Record annual operating cash flow of $513 million, up 110% year-over year, and record annual free cash flow of $428 million, up 137% year-over-year

“We delivered record quarterly and full year revenue. Our results were underpinned by strong demand in our Semiconductor Market and a continued recovery in our Advanced Markets. In our Semiconductor Market, we not only achieved record revenue from our Power Solutions products but also strong year-over-year growth across the remainder of our Semiconductor portfolio. This is a clear affirmation of our differentiated Surround the Chamber® strategy, which was put in place to drive technology and market leadership.” said John T.C. Lee, President and Chief Executive Officer.

Mr. Lee added, “We are pleased to return to strong year-over-year growth in Advanced Markets in the fourth quarter and are encouraged with the demand trends in Advanced Electronics applications. As we highlighted at our Analyst Day in December, the secular trends of miniaturization, complexity and new materials are driving the need for precision laser processing where we are well positioned with our Surround the Workpiece® portfolio.”

“The fourth quarter marked a strong finish to 2020, as we achieved record quarterly Non-GAAP operating income. We generated strong operating leverage in our model, while continuing to make targeted investments to drive long-term organic growth,” said Seth H. Bagshaw, Senior Vice President and Chief Financial Officer.

Mr. Bagshaw added, “We generated record free cash flow in 2020, and I am pleased to announce we exited the year with a net cash position, within 24 months of the acquisition of Electro Scientific Industries, Inc. (“ESI”). Our strong cash position provides us with added balance sheet flexibility.”


MKS Instruments, Inc. sees Q1 2021 EPS of $1.96-$2.36, versus the consensus of $1.96. MKS Instruments, Inc. sees Q1 2021 revenue of $625-675 million, versus the consensus of $603.6 million.

  • Based on current business levels, the Company expects revenue in the first quarter of 2021 of $650 million, plus or minus $25 million.
  • At these volumes, the Company expects GAAP net income per diluted share of $1.91, plus or minus $0.20 and Non-GAAP net earnings per diluted share of $2.16, plus or minus $0.20.

For earnings history and earnings-related data on MKS Instruments, Inc. (MKSI) click here.

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