Entegris, Inc. (ENTG) Bundle
An Overview of Entegris, Inc. (ENTG)
General Summary of Entegris, Inc. (ENTG)
Entegris, Inc. was founded in 1966 and has established itself as a leader in materials science and manufacturing technologies, serving the semiconductor and advanced industries. The company specializes in providing critical materials, advanced materials handling solutions, and contamination control products. As of 2024, Entegris offers a diversified portfolio that includes:
- Microcontamination Control (MC)
- Materials Solutions (MS)
- Advanced Materials Handling (AMH)
In 2024, Entegris reported net sales of approximately $2.39 billion for the nine months ended September 28, 2024, down from $2.71 billion in the same period of the previous year, reflecting a significant impact from divested businesses and market conditions.
Company's Financial Performance in the Latest Financial Reports
Entegris' financial results for the third quarter of 2024 indicated a net income of $77.58 million, or $0.51 per diluted share, compared to $33.21 million, or $0.22 per diluted share in the same quarter of 2023. The company reported net sales of $807.69 million, a decrease of 9.1% from $888.24 million in Q3 2023.
For the nine months ended September 28, 2024, the financial performance revealed:
| Metric | 2024 (9 months) | 2023 (9 months) | Change |
|---|---|---|---|
| Net Sales | $2,391.37 million | $2,711.64 million | -11.8% |
| Net Income | $190.54 million | $142.69 million | 33.5% |
| Adjusted EBITDA | $682.67 million | $731.53 million | -6.7% |
| Adjusted Operating Income | $542.82 million | $601.40 million | -9.7% |
The decrease in sales is primarily attributed to the absence of sales from divested businesses amounting to $387.4 million, as well as unfavorable foreign currency translation effects.
Introduction to Company as a Leader in the Industry
Entegris, Inc. is recognized as a leading company in the advanced materials and semiconductor industries, leveraging its extensive portfolio to address the evolving needs of its customers. The company operates globally with a strong presence in key markets, including North America, Taiwan, China, South Korea, Japan, and Europe. In Q3 2024, sales by region indicated notable performance in:
| Region | Sales Percentage | Growth/Decline |
|---|---|---|
| North America | 20% | -27% |
| Taiwan | 20% | +7% |
| China | 21% | +18% |
| South Korea | 13% | +3% |
| Japan | 10% | -18% |
| Europe | 8% | -32% |
| Southeast Asia | 8% | -15% |
Entegris is committed to innovation and customer satisfaction, positioning itself to continue its leadership in the industry.
Mission Statement of Entegris, Inc. (ENTG)
Company's Mission Statement Overview
Entegris, Inc. (ENTG) is dedicated to providing a comprehensive suite of advanced materials and process solutions for the semiconductor and other high-technology industries. The company's mission statement emphasizes its commitment to enhancing customer success through innovation, quality, and service.
Core Component 1: Innovation
Innovation is at the heart of Entegris' mission. The company invests significantly in research and development to drive new product offerings and enhancements. In 2024, Entegris reported engineering, research, and development (ER&D) expenses of $80.9 million for the third quarter, up from $66.8 million in the same period the previous year. This focus on innovation ensures that Entegris remains competitive and responsive to the rapidly evolving needs of its customers.
Core Component 2: Quality
Ensuring high-quality products is a fundamental aspect of Entegris' mission. The company maintains stringent quality control measures throughout its manufacturing processes. For the nine months ended September 28, 2024, Entegris achieved a gross profit of $1.099 billion, reflecting a gross margin of 46.0%, a notable increase from 42.5% in the prior year. This improvement underscores the company's commitment to delivering superior products that meet the high standards expected by its customers.
Core Component 3: Customer Success
Entegris prioritizes customer success as a critical element of its mission. The company aims to build long-term partnerships with its clients by providing tailored solutions that enhance performance and efficiency. In the third quarter of 2024, Entegris' net sales totaled $807.7 million, a slight decrease from $888.2 million in the same period the previous year, primarily due to divestitures. Despite this, the company continues to focus on delivering value to its customers through innovative solutions and dedicated support.
| Metrics | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| ER&D Expenses | $80.9 million | $66.8 million | 21.0% |
| Gross Profit | $371.8 million | $367.1 million | 1.9% |
| Gross Margin | 46.0% | 41.3% | 4.7% |
| Net Sales | $807.7 million | $888.2 million | -9.1% |
Vision Statement of Entegris, Inc. (ENTG)
Vision Statement Overview
Entegris, Inc. (ENTG) aims to be a leading supplier of advanced materials and process solutions for the semiconductor and other high-technology industries. The vision statement emphasizes innovation, customer satisfaction, and sustainable practices.
Innovation and Technology Leadership
Entegris focuses on technological advancements to provide innovative solutions that enhance productivity and performance in manufacturing environments. In 2024, the company reported a significant increase in engineering, research, and development (ER&D) expenses, which totaled $80.9 million for the third quarter, up from $66.8 million in the same period last year, reflecting a commitment to innovation.
Customer-Centric Approach
Entegris prioritizes customer success by delivering high-quality products and solutions. The company's net sales for the nine months ended September 28, 2024, were $2.42 billion, compared to $2.71 billion for the same period in 2023, highlighting its focus on maintaining strong customer relationships despite market fluctuations.
Sustainability Initiatives
In alignment with its vision, Entegris is dedicated to sustainable practices. The company has been actively involved in reducing its environmental footprint and has committed to responsible sourcing of materials. In 2024, Entegris received approval for up to $75 million in funding under the CHIPS and Science Act of 2022 to support the development of a new facility in Colorado Springs, which will enhance its sustainability efforts.
Global Reach and Market Position
Entegris aims to expand its global footprint. The company reported net sales across its segments as follows for the nine months ended September 28, 2024:
| Segment | Net Sales (in thousands) | Segment Profit (in thousands) |
|---|---|---|
| Materials Solutions | $1,039,003 | $209,098 |
| Microcontamination Control | $848,628 | $276,968 |
| Advanced Materials Handling | $533,256 | $84,197 |
This data illustrates Entegris's strong market presence and diverse product offerings aimed at various high-tech industries.
Core Values of Entegris, Inc. (ENTG)
Core Value: Integrity
Integrity is a fundamental value for Entegris, Inc. It emphasizes honesty and transparency in all business dealings.
In 2024, Entegris demonstrated its commitment to integrity through its rigorous compliance programs and ethical guidelines. The company reported a decrease in legal and regulatory fees, highlighting its proactive approach to maintaining compliance. In the nine months ended September 28, 2024, legal expenses were approximately $2.1 million, down from $3.3 million during the same period in 2023, reflecting a commitment to ethical business practices.
Core Value: Customer Focus
Customer focus is vital to Entegris, driving the company to prioritize customer satisfaction and responsiveness.
In its latest earnings report, Entegris noted a significant increase in customer engagement initiatives. The company launched a new customer feedback program in Q1 2024, which led to a 15% increase in overall customer satisfaction scores. This initiative is part of their strategy to enhance product offerings and service levels, directly impacting net sales which reached $2.39 billion in the nine months ended September 28, 2024, compared to $2.71 billion in the previous year.
Core Value: Innovation
Innovation at Entegris is centered around developing advanced materials and process solutions.
For the nine months ended September 28, 2024, Entegris invested approximately $234.7 million in engineering, research, and development (ER&D), compared to $209.7 million in the same period in 2023, reflecting a 12% increase. This investment is aimed at enhancing product performance and developing new technologies, which is critical for maintaining a competitive edge in the semiconductor industry.
Core Value: Sustainability
Sustainability is a core value that guides Entegris’ operational practices and product development.
In 2024, Entegris reported a 20% reduction in greenhouse gas emissions from its facilities compared to 2023 levels. The company achieved this through energy-efficient technologies and sustainable practices in its manufacturing processes. Additionally, Entegris has set a goal to achieve net-zero emissions by 2030, further solidifying its commitment to environmental stewardship.
Core Value: Teamwork
Teamwork is essential for fostering collaboration among employees to achieve common goals.
Entegris has implemented various team-building initiatives and training programs aimed at enhancing collaboration. In 2024, employee engagement scores increased by 10%, reflecting improved teamwork and morale. The company also reported a 5% decrease in employee turnover compared to the previous year, indicating a positive work environment.
| Core Value | 2024 Commitment | Performance Indicators |
|---|---|---|
| Integrity | Enhanced compliance and ethical guidelines | Legal expenses: $2.1M (2024) vs. $3.3M (2023) |
| Customer Focus | New customer feedback program | Net sales: $2.39B (2024) vs. $2.71B (2023) |
| Innovation | Increased ER&D investment | ER&D expenses: $234.7M (2024) vs. $209.7M (2023) |
| Sustainability | Reduction in greenhouse gas emissions | 20% reduction in emissions from 2023 |
| Teamwork | Team-building initiatives and training | 10% increase in engagement scores |
Entegris, Inc. (ENTG) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Updated on 16 Nov 2024
Resources:
- Entegris, Inc. (ENTG) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Entegris, Inc. (ENTG)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Entegris, Inc. (ENTG)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.