Shares of semiconductor materials supplier Entegris (NASDAQ:ENTG) fell 6.9% in the morning session after the company reported first-quarter results and provided revenue guidance for the next quarter below analysts' expectations. In addition, its inventory levels increased.
Comprehensive Analysis of Entegris' Financial Performance and Future Outlook
Semiconductor materials supplier Entegris (NASDAQ:ENTG) reported results in line with analysts' expectations in Q1 CY2024, with revenue down 16.4% year on year to $771 million. On the other hand, next quarter's revenue guidance of $800 million was less impressive, coming in 1.6% below analysts' estimates. It made a non-GAAP profit of $0.68 per share, improving from its profit of $0.65 per share in the same quarter last year.