Entegris Stock Price, News & Analysis

Infineum and Entegris (NASDAQ: ENTG) have entered a definitive agreement for Infineum to acquire Entegris' Pipeline and Industrial Materials (PIM) business, which includes Flowchem, Val-Tex, and Sealweld brands. This acquisition expands Infineum's specialty chemicals portfolio and is aimed at enhancing customer innovation and performance reliability. The transaction is expected to close in Q4 2022, pending regulatory approvals. The PIM business provides Drag Reducing Agents (DRAs) crucial for pipeline operations, positioning Infineum for growth in a significant market segment.

Entegris reported second-quarter 2022 revenue of $692 million, up 21% year-over-year. GAAP diluted EPS reached $0.73, marking a 12% increase, while non-GAAP diluted EPS was $1.00, up 18%. The company closed its acquisition of CMC Materials on July 6, 2022, which did not contribute to Q2 results. Bertrand Loy highlighted strong sales growth across all divisions, despite currency fluctuations impacting non-GAAP EPS. For Q3 2022, Entegris anticipates sales between $1.00 billion and $1.04 billion.

Entegris announced a quarterly cash dividend of $0.10 per share, payable on August 24, 2022, to shareholders of record on August 3, 2022. As a leader in electronic materials for the semiconductor market, Entegris employs approximately 8,800 people worldwide. The company's solutions support performance and productivity improvements across various sectors, including life sciences and advanced manufacturing.

Lam Research, Entegris, and Gelest announced a strategic collaboration to enhance the semiconductor supply chain by providing reliable access to precursor chemicals for EUV lithography. This partnership will advance dry resist technology crucial for next-generation semiconductors used in AI and mobile devices. The collaboration ensures a dual-source supply and supports R&D for cost-effective EUV solutions. Key benefits include improved productivity, sustainability, and significant energy savings. This initiative could lead to innovations in semiconductor manufacturing over the coming decades.

Entegris, Inc. (NASDAQ: ENTG) is set to announce its financial results for Q2 2022 on August 2, 2022, before the market opens. The management will host a teleconference at 9:00 a.m. Eastern Time on the same day, with dial-in details available for participants. A replay of the call will be accessible from 12:00 p.m. August 2 to 12:00 p.m. September 17, 2022. Entegris is a leader in electronic materials for the semiconductor market, employing approximately 8,800 staff globally.

Entegris has successfully completed its acquisition of CMC Materials for approximately $5.7 billion, which includes $3.8 billion in cash to CMC shareholders and a significant debt retirement. This acquisition is set to enhance Entegris' position as a leader in electronic materials for the semiconductor market, increasing unit-driven revenue from 70% to 80%. Entegris aims to achieve $75 million in run-rate cost synergies and $40 million in CapEx synergies within the next 18 months. The integration of CMC Materials is expected to unlock substantial growth and innovation opportunities.

Entegris has received antitrust clearance from China's State Administration for Market Regulation for its acquisition of CMC Materials, with expectations to close the transaction around July 6, 2022. This acquisition, announced on December 15, 2021, combines their complementary portfolios, enhancing their electronic materials offerings. With all necessary regulatory approvals secured, both companies aim to leverage synergies to address the semiconductor industry's needs and drive innovation.

Entegris, Inc. (Nasdaq: ENTG) announced the pricing of a private offering of $895 million in senior unsecured notes with a 5.950% interest rate, set to close on June 30, 2022. The proceeds, estimated at approximately $878 million after credits, will primarily finance the merger with CMC Materials, Inc., cover merger-related expenses, and pay off existing debt. The notes will be secured initially by an escrow account until the merger is completed. The offering is available only to qualified institutional buyers, aligning with SEC regulations.

Entegris, Inc. (Nasdaq: ENTG) announced its wholly-owned subsidiary, Entegris Escrow Corporation, plans to offer senior unsecured notes due 2030, subject to market conditions. The proceeds will finance part of its merger with CMC Materials, Inc., covering cash considerations, fees, and expenses, as well as repaying existing debt. The notes will be escrow-secured until the merger completes, and will then become senior unsecured obligations of Entegris. The notes will not be registered under the Securities Act and will be offered only to qualified institutional buyers.