Entegris Inc. Files Q3 2024 10-Q Report

TL;DR

ENTEGRIS INC Q3 2024 10-Q FILED. CHECK FINANCIALS.

AI Summary

Entegris Inc. reported its third-quarter results for the period ending September 28, 2024. The company's financial statements show a fiscal year end of December 31. Specific financial figures for the quarter and year-to-date are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance data for Entegris Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 20240928 — Period End Date (The end of the reporting period for this 10-Q filing.)
• 20241104 — Filing Date (The date the 10-Q report was officially filed with the SEC.)
• 1231 — Fiscal Year End (Indicates the end of Entegris Inc.'s fiscal year.)

Key Players & Entities

• ENTEGRIS INC (company) — Filer
• 20240928 (date) — Period of Report
• 20241104 (date) — Filing Date
• 0001101302-24-000074 (dollar_amount) — Accession Number

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common stock, $0.01 par value per share ENTG The Nasdaq Sto

Filing Documents

• entg-20240928.htm (10-Q) — 1661KB
• entg-20240928xex311.htm (EX-31.1) — 9KB
• entg-20240928xex312.htm (EX-31.2) — 9KB
• entg-20240928xex321.htm (EX-32.1) — 5KB
• entg-20240928_g1.jpg (GRAPHIC) — 42KB
• 0001101302-24-000074.txt ( ) — 7382KB
• entg-20240928.xsd (EX-101.SCH) — 36KB
• entg-20240928_cal.xml (EX-101.CAL) — 72KB
• entg-20240928_def.xml (EX-101.DEF) — 213KB
• entg-20240928_lab.xml (EX-101.LAB) — 526KB
• entg-20240928_pre.xml (EX-101.PRE) — 373KB
• entg-20240928_htm.xml (XML) — 1160KB

Financial Information

PART I Financial Information

Financial Statements

Item 1. Financial Statements 4 Condensed Consolidated Balance Sheets as of September 28, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 28, 2024 and September 30, 2023 5 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 28, 2024 and September 30, 2023 6 Condensed Consolidated Statements of Equity for the Three and Nine Months Ended September 28, 2024 and September 30, 2023 7 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 28, 2024 and September 30, 2023 9 Notes to Condensed Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 36

Other Information

PART II Other Information

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 37

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 38

Signatures

Signatures 39 Cautionary Statements This Quarterly Report on Form 10-Q (this "Quarterly Report") contains "forward-looking statements." The words "believe," "expect," "anticipate," "intend," "estimate," "forecast," "project," "should," "may," "will," "would" or the negative thereof and similar expressions are intended to identify such forward-looking statements. These forward-looking statements may include statements about fluctuations in demand for semiconductors; global economic uncertainty and the risks inherent in operating a global business; supply chain matters; inflationary pressures; future period guidance or projections; the Company's performance relative to its markets, including the drivers of such performance; market and technology trends, including the duration and drivers of any growth trends; the development of new products and the success of their introductions; the focus of the Company's engineering, research and development projects; the Company's ability to obtain, protect and enforce intellectual property rights; information technology risks; the Company's ability to execute on our business strategies, including the Company's expansion of its manufacturing presence in Taiwan and in Colorado Springs; the Company's capital allocation strategy, which may be modified at any time for any reason, including with respect to share repurchases, dividends, debt repayments and potential acquisitions; the impact of the acquisitions and divestitures the Company has made and commercial partnerships the Company has established, including the acquisition of CMC Materials, Inc. (now known as CMC Materials LLC) ("CMC Materials"); the amount of goodwill we carry on our balance sheets; key employee retention; future capital and other expenditures, including estimates thereof; the Company's expected tax rate; the impact, financial or otherwise, of any organizational changes or changes in the legal and regulatory environment in which we operate; the impact of accou

Financial Statements

Item 1. Financial Statements ENTEGRIS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except per share data) September 28, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 432,072 $ 456,929 Trade accounts receivable, net of allowance for credit losses of $ 4,901 and $ 6,412 503,165 457,052 Inventories, net 643,034 607,051 Deferred tax charges and refundable income taxes 26,941 63,879 Assets held-for-sale 7,004 278,753 Other current assets 102,873 113,663 Total current assets 1,715,089 1,977,327 Property, plant and equipment, net of accumulated depreciation of $ 1,026,206 and $ 908,089 1,542,356 1,468,043 Right-of-use assets - Operating lease 63,634 57,990 Right-of-use assets - Finance lease 21,154 22,409 Goodwill 3,946,575 3,945,860 Intangible assets, net of accumulated amortization of $ 953,421 and $ 808,298 1,138,630 1,281,969 Deferred tax assets and other noncurrent tax assets 20,340 31,432 Other assets 24,979 27,561 Total assets $ 8,472,757 $ 8,812,591 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 65,000 $ — Accounts payable 174,189 134,211 Accrued payroll and related benefits 108,279 109,559 Accrued interest payable 75,818 24,759 Liabilities held-for-sale 925 19,223 Other accrued liabilities 118,239 148,840 Income taxes payable 44,241 77,403 Total current liabilities 586,691 513,995 Long-term debt, net of unamortized discount and debt issuance costs of $ 69,310 and $ 91,633 4,060,690 4,577,141 Pension benefit obligations and other liabilities 58,069 53,733 Deferred tax liabilities and other noncurrent tax liabilities 101,780 190,142 Long term lease liability - Operating lease 54,540 49,719 Long term lease liability - Finance lease 18,477 19,267 Equity: Preferred stock, par value $ 0.01 ; 5,000 shares authorized; none issued and outstanding as of September 28, 2024 and December 31, 2023 — — Common stock, par value $ 0.0

View Full Filing

View this 10-Q filing on SEC EDGAR