Entegris (NASDAQ: ENTG) reported Q1 EPS of $0.70, $0.02 worse than the analyst estimate of $0.72. Revenue for the quarter came in at $513 million versus the consensus estimate of $518.58 million.

Bertrand Loy, Entegris’ president and chief executive officer, said: “First quarter revenue growth was primarily driven by accelerating industry conditions and strong demand for our leading-edge solutions, especially in liquid filtration, advanced deposition materials and specialty coatings. We also continued to have strong demand for our Aramus high purity bags, which are used for the distribution and storage of the Covid-19 vaccine and other biologics.”

Mr. Loy added: “The semiconductor market looks very healthy across all customer segments, bolstered by a robust global GDP outlook and strong overall chip demand, driven by accelerated digitalization, 5G and high-performance computing. In addition, more wafers are being produced at the more advanced nodes where we enjoy greater Entegris content per wafer. Consequently, our outlook for the full year 2021 has improved significantly, and our teams are intensely focused on meeting the record level of demand for our products.”

GUIDANCE:

Entegris sees Q2 2021 EPS of $0.77-$0.82, versus the consensus of $0.73. Entegris sees Q2 2021 revenue of $530-545 million, versus the consensus of $523.32 million.

• For the second quarter ending July 3, 2021, the Company expects sales of $530 million to $545 million, net income of $77 million to $84 million and diluted earnings per common share between $0.56 and $0.61. On a non-GAAP basis, the company expects diluted earnings per common share to range from $0.77 to $0.82, reflecting net income on a non-GAAP basis in the range of $106 million to $113 million.

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