2024 Q2 Form 10-Q Financial Statement

#000110130224000040 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q2
Revenue $812.7M $771.0M $922.4M
YoY Change -11.9% 41.98%
Cost Of Revenue $436.8M $419.2M $520.7M
YoY Change -16.11% 53.23%
Gross Profit $375.8M $351.8M $401.7M
YoY Change -6.44% 29.65%
Gross Profit Margin 46.25% 45.63% 43.55%
Selling, General & Admin $116.3M $112.2M $169.9M
YoY Change -31.53% 95.01%
% of Gross Profit 30.95% 31.89% 42.29%
Research & Development $81.89M $71.88M $71.91M
YoY Change 13.88% 53.92%
% of Gross Profit 21.79% 20.43% 17.9%
Depreciation & Amortization $94.92M $45.34M $46.78M
YoY Change 102.93% 95.67%
% of Gross Profit 25.26% 12.89% 11.64%
Operating Expenses $198.2M $184.1M $241.8M
YoY Change -18.02% 80.67%
Operating Profit $130.1M $117.6M $13.47M
YoY Change 866.18% -91.76%
Interest Expense $53.69M $57.37M $86.15M
YoY Change -37.68% 569.04%
% of Operating Profit 41.26% 48.79% 639.73%
Other Income/Expense, Net -$2.977M -$14.29M $4.658M
YoY Change -163.91% -195.02%
Pretax Income $74.60M $48.93M -$66.70M
YoY Change -211.85% -145.81%
Income Tax $6.700M $3.500M $21.47M
% Of Pretax Income 8.98% 7.15%
Net Earnings $67.70M $45.27M -$88.17M
YoY Change -176.78% -170.14%
Net Earnings / Revenue 8.33% 5.87% -9.56%
Basic Earnings Per Share $0.45 $0.30 -$0.59
Diluted Earnings Per Share $0.45 $0.30 -$0.59
COMMON SHARES
Basic Shares Outstanding 150.8M shares 150.4M shares 149.4M shares
Diluted Shares Outstanding 151.8M shares 151.7M shares 149.4M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $320.0M $340.7M $707.8M
YoY Change -54.79% 100.67%
Cash & Equivalents $320.0M $340.7M $707.8M
Short-Term Investments
Other Short-Term Assets $107.4M $123.5M $118.9M
YoY Change -9.63% 87.24%
Inventory $633.4M $625.7M $830.9M
Prepaid Expenses
Receivables $457.1M $424.5M $511.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.577B $1.575B $2.457B
YoY Change -35.83% 79.43%
LONG-TERM ASSETS
Property, Plant & Equipment $1.495B $1.474B $1.464B
YoY Change 2.09% 109.63%
Goodwill $3.944B $3.944B $4.248B
YoY Change -7.15% 435.04%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $28.09M $30.71M $34.60M
YoY Change -18.83% 192.05%
Total Long-Term Assets $6.760B $6.789B $7.610B
YoY Change -11.17% 297.58%
TOTAL ASSETS
Total Short-Term Assets $1.577B $1.575B $2.457B
Total Long-Term Assets $6.760B $6.789B $7.610B
Total Assets $8.337B $8.365B $10.07B
YoY Change -17.19% 206.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $141.6M $131.2M $167.2M
YoY Change -15.31% 24.8%
Accrued Expenses $182.0M $200.9M $262.7M
YoY Change -30.72% 80.67%
Deferred Revenue $53.18M $65.98M $77.15M
YoY Change -31.07% 179.43%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $159.0M
YoY Change -100.0%
Total Short-Term Liabilities $439.9M $470.0M $781.6M
YoY Change -43.73% 110.31%
LONG-TERM LIABILITIES
Long-Term Debt $4.122B $4.173B $5.635B
YoY Change -26.84% 501.13%
Other Long-Term Liabilities $106.1M $105.9M $132.8M
YoY Change -20.07% 32.67%
Total Long-Term Liabilities $4.122B $4.173B $5.635B
YoY Change -26.84% 501.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $439.9M $470.0M $781.6M
Total Long-Term Liabilities $4.122B $4.173B $5.635B
Total Liabilities $4.562B $4.643B $6.416B
YoY Change -28.9% 390.17%
SHAREHOLDERS EQUITY
Retained Earnings $1.234B $1.182B $928.1M
YoY Change 33.01% -6.42%
Common Stock $2.337B $2.309B $2.246B
YoY Change 4.02% 155.94%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.112M $7.112M $7.112M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $3.502B $3.430B $3.168B
YoY Change
Total Liabilities & Shareholders Equity $8.337B $8.365B $10.07B
YoY Change -17.19% 206.6%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q2
OPERATING ACTIVITIES
Net Income $67.70M $45.27M -$88.17M
YoY Change -176.78% -170.14%
Depreciation, Depletion And Amortization $94.92M $45.34M $46.78M
YoY Change 102.93% 95.67%
Cash From Operating Activities $111.2M $147.2M $151.9M
YoY Change -26.77% 138.09%
INVESTING ACTIVITIES
Capital Expenditures $59.27M $66.62M $134.0M
YoY Change -55.77% 58.75%
Acquisitions
YoY Change
Other Investing Activities $47.00K $1.964M -$108.0K
YoY Change -143.52% -90.38%
Cash From Investing Activities -$59.22M $181.0M -$357.0K
YoY Change 16488.8% -99.57%
FINANCING ACTIVITIES
Cash Dividend Paid $15.26M $15.17M
YoY Change 9.18%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $643.3M $117.2M
YoY Change
Cash From Financing Activities -70.01M -$439.9M -$6.482M
YoY Change 980.05% -76.51%
NET CHANGE
Cash From Operating Activities 111.2M $147.2M $151.9M
Cash From Investing Activities -59.22M $181.0M -$357.0K
Cash From Financing Activities -70.01M -$439.9M -$6.482M
Net Change In Cash -18.02M -$116.2M $145.6M
YoY Change -112.38% -392.16%
FREE CASH FLOW
Cash From Operating Activities $111.2M $147.2M $151.9M
Capital Expenditures $59.27M $66.62M $134.0M
Free Cash Flow $51.94M $80.57M $17.88M
YoY Change 190.53% -186.72%

Facts In Submission

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<div style="margin-bottom:6pt;margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Nature of Operations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Entegris, Inc. (“Entegris”, “the Company”, “us”, “we”, or “our”) is a leading supplier of advanced materials and process solutions for the semiconductor and other high-technology industries.</span></div>
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