Entegris Inc - ENTG STOCK NEWS

Entegris, Inc. (NASDAQ: ENTG) has announced the appointment of James (Jim) Anderson to its board of directors. Anderson, the current CEO of Lattice Semiconductor, brings over 20 years of technology industry experience, having held key positions at Intel and AMD. The board is optimistic that his expertise in the semiconductor sector will aid Entegris in enhancing operational execution and innovation. This strategic addition aligns with Entegris' commitment to meet the evolving needs of the high-tech industry, leveraging Anderson's insights for future growth.

Entegris reported fourth-quarter 2022 revenue of $946 million, up 49% year-over-year, with GAAP net income of $57.4 million and diluted EPS of $0.38. Non-GAAP net income reached $124.5 million, translating to a non-GAAP EPS of $0.83. Full-year revenue saw a 43% increase, showing strong market performance. For Q1 2023, the company anticipates sales between $880 million and $910 million, with non-GAAP EPS estimates ranging from $0.50 to $0.55. Challenges are expected in the semiconductor industry, prompting a focus on cost management and R&D investments.

Entegris, a supplier of materials for the semiconductor sector, is set to announce its fourth quarter 2022 financial results on February 14, 2023, before market opening. A teleconference with management will follow at 10:00 a.m. Eastern Time. Participants can join by calling +1 323-994-2093 or 1-888-204-4368 and using the confirmation passcode 3262739. The call will be available for replay at 12:00 p.m. Eastern Time on the same day. Entegris, with approximately 10,000 employees, operates globally in countries including the U.S., Canada, China, and others, providing advanced materials and process solutions.

Entegris, Inc. (Nasdaq: ENTG) announced the planned retirement of CFO Greg Graves in 2023, initiating a search for his successor with the help of an executive search firm. Graves has been with the company for two decades, serving as CFO for 17 years, significantly contributing to its growth from a $700 million company in 2012 to a $4 billion leader in the semiconductor market. Graves will remain in his role until a successor is appointed and will assist during the transition. Entegris continues to prioritize shareholder value and innovation in advanced materials for high-tech industries.

Quad-C Management, Inc. has entered into a definitive agreement to acquire QED Technologies International, Inc. from Entegris, Inc. The transaction, expected to close in Q1 2023, aims to enhance QED's position in precision optics finishing for sectors like semiconductor and aerospace. QED is known for its advanced polishing and metrology solutions designed to boost production efficiency while reducing costs. Tom Hickey of Quad-C expressed excitement about collaborating with QED's management for growth. Entegris continues to focus on its core business in advanced materials and process solutions.

Entegris, Inc. (NASDAQ: ENTG) has announced a quarterly cash dividend of $0.10 per share, set to be paid on February 22, 2023. This dividend will benefit shareholders of record as of the close of business on February 1, 2023. Entegris is a leading supplier in the semiconductor and high-tech sectors, employing around 10,000 individuals globally. The company provides advanced materials and process solutions aimed at enhancing productivity and performance for its customers across various manufacturing environments. For detailed information, visit www.entegris.com.

Entegris, Inc. (NASDAQ: ENTG) announced plans to enhance production and purification capabilities at its Pueblo, Colorado, and Hollister, California facilities, investing approximately $50 million. This expansion aims to meet the rising demand for ultra-high purity electronic chemicals essential for semiconductor manufacturing. The investment follows ongoing developments in Europe and Southeast Asia, with project completion expected within two years. CEO Bertrand Loy emphasized that this move aligns with the CHIPS for America Act and the European Chips Act, positioning Entegris favorably for new customer fabs in 2024 and 2025.

Entegris has announced plans to construct a new manufacturing center of excellence in Colorado Springs, aiming for initial operations by mid-2024. This facility will enhance its Microcontamination Control and Advanced Materials Handling divisions and is expected to generate around 600 new jobs. Entegris plans to invest approximately $600 million, supported by state and local incentives and potential federal funding from the CHIPS and Science Act. The initial phase will include a 100,000-square-foot facility, emphasizing sustainability in its operations.