Financial Data and Key Metrics Changes - The company's first quarter revenue grew by 5% year on year, excluding divestitures, slightly below guidance [4] - Gross margin was at 46.1%, at the midpoint of guidance and up sequentially due to strong cost management [12][13] - Non-GAAP EPS was $0.67 per share, at the midpoint of guidance [14] Business Line Data and Key Metrics Changes - Materials Solutions sales increased by 8% year on year, driven by strong growth in CMP slurries and pads, which were up almost 20% [4][14] - Advanced Purity Solutions sales rose by 3% year on year, but saw an 11% sequential decline due to lower demand for CapEx products [5][15] Market Data and Key Metrics Changes - The company expects a temporary impact on top-line revenue related to sales to China due to new tariffs, estimating a potential loss of up to $50 million for Q2 [10][31] - Excluding China, the business remains strong, with expectations for sequential growth in consumable product lines [29][30] Company Strategy and Development Direction - The company is focused on building a comprehensive global manufacturing footprint with regionally integrated supply chains to mitigate risks [7] - Investments in new manufacturing sites, such as the Colorado facility, are aimed at enhancing production capabilities and supporting customer technology roadmaps [6][18] Management's Comments on Operating Environment and Future Outlook - The management highlighted the uncertainty in the semiconductor industry due to new tariff regimes, affecting revenue guidance for Q2 [10][20] - Despite the challenges, the company remains committed to improving free cash flow and reducing debt levels [11][19] Other Important Information - The company achieved its first CHIPS Act milestone and expects to receive $9 million in the second quarter [18] - Capital expenditures for 2025 are expected to be approximately $300 million, down from previous expectations [17] Q&A Session Summary Question: Impact of tariffs on guidance and customer behavior - Management clarified that the Q2 guidance reflects strong business performance excluding China, with a solid book-to-bill ratio approaching 1.2 [28] - The potential $50 million loss in Q2 is due to new tariffs, but alternative manufacturing sites are being qualified to mitigate this impact [31][32] Question: Changes in customer discussions regarding Moly adoption - Despite macro uncertainties, major node transitions are still on track, with expectations for Moly adoption in the second half of the year [35][36] Question: Recovery of lost sales due to tariffs - Management believes the impact is temporary and that the China business remains strong, with active discussions ongoing to transition demand to alternative sites [41][44] Question: Q1 results and customer behavior - The Q1 performance was slightly below guidance due to softer demand for CapEx products, particularly in new fab construction [46][48] Question: Gross margin impact from tariffs - Management indicated that while tariffs may have a modest impact on Q2 gross margins, they expect overall gross margins to improve in 2025 compared to 2024 [56] Question: Advanced Packaging growth outlook - Advanced packaging is a small but rapidly growing market, with expectations for over 25% growth in 2025 driven by high viscosity dispense solutions and HBM slurries [97][98]

Financial Performance - Entegris reported quarterly earnings of $0.67 per share, missing the Zacks Consensus Estimate of $0.69 per share, and showing a slight decrease from $0.68 per share a year ago, resulting in an earnings surprise of -2.90% [1] - The company posted revenues of $773.2 million for the quarter ended March 2025, which was 2% below the Zacks Consensus Estimate and slightly above the year-ago revenues of $771.03 million [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.70 on revenues of $814.77 million, and for the current fiscal year, it is $3.25 on revenues of $3.41 billion [7] - The trend of estimate revisions for Entegris has been unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Market Performance - Entegris shares have declined approximately 16.2% since the beginning of the year, contrasting with the S&P 500's decline of -4.7% [3] - The Electronics - Manufacturing Machinery industry, to which Entegris belongs, is currently ranked in the bottom 6% of over 250 Zacks industries, suggesting a challenging environment for the company [8]

Financial Performance - Entegris's net sales for 1Q25 were $773.2 million, a 0.3% increase compared to $771.0 million in 1Q24, but a 9.0% decrease compared to $849.8 million in 4Q24 [5] - The company's GAAP net income for 1Q25 was $62.9 million, a 38.9% increase compared to $45.3 million in 1Q24, but a 38.5% decrease compared to $102.3 million in 4Q24 [5] - Diluted earnings per common share were $0.41 in 1Q25, up 36.7% from $0.30 in 1Q24, but down 38.8% from $0.67 in 4Q24 [5] - Adjusted EBITDA for 1Q25 was $220.7 million, representing 28.5% of net sales [6] Segment Performance - Materials Solutions (MS) segment net sales were $341.4 million in 1Q25, a 2.5% decrease compared to $350.0 million in 1Q24, but excluding divestiture, adjusted net sales increased by 8.0% to $341.4 million from $316.1 million [9] - Advanced Purity Solutions (APS) segment net sales were $433.9 million in 1Q25, a 2.5% increase compared to $423.3 million in 1Q24, but an 11.7% decrease compared to $491.2 million in 4Q24 [12] Balance Sheet and Cash Flow - Cash and cash equivalents at the end of 1Q25 were $340.9 million [15] - Long-term debt was $3.9845 billion [15] - Cash provided by operating activities in 1Q25 was $140.4 million [16] Outlook - The company's net sales guidance for 2Q25 is $735 million to $775 million [17, 18] - Non-GAAP net income is projected to be between $91 million and $102 million [18]

BILLERICA, Mass., May 7, 2025 - Entegris, Inc. (NASDAQ: ENTG), today reported its financial results for the Company's first quarter ended March 29, 2025. Bertrand Loy, Entegris' President and Chief Executive Officer, said: "Our first quarter revenue grew 5 percent year-on- year, excluding divestitures, with strong demand for our CMP consumables and micro contamination control solutions. Gross margin, EBITDA margin and non-GAAP EPS were within guidance." Mr. Loy added: "While new tariff regimes have increase ...

Core Points - Entourage Health Corp. has completed a plan of arrangement where 1001095275 Ontario Inc., a related party of LiUNA Pension Fund, acquired all issued and outstanding common shares of the Company for cash consideration of C$0.005 per share, effective March 31, 2025 [1][2] - The arrangement also included the same cash consideration for holders of certain vested convertible securities and involved debt settlement agreements for C$1,013,050 in unsecured debentures, settled for C$250,000 [2] - The arrangement was approved by shareholders on March 21, 2025, and by the Superior Court of Justice on March 26, 2025 [3] Company Overview - Entourage Health Corp. is a publicly traded parent company of Entourage Brands Corp., which produces and distributes cannabis products for medical and adult-use markets [8] - The Company operates a fully licensed processing facility in Aylmer, Ontario, and has a multi-channel distribution strategy, including partnerships with LiUNA and various provincial distribution agencies [8] - Entourage's product portfolio includes brands such as Starseed Medicinal, Color Cannabis, and Saturday Cannabis, and it is the exclusive Canadian producer of the wellness brand Mary's Medicinals [8] Post-Arrangement Plans - Following the completion of the arrangement, Entourage intends to delist its common shares from the TSX Venture Exchange, Frankfurt Stock Exchange, and OTC Markets, and will apply to cease being a reporting issuer [4] - Shareholders are required to surrender their share certificates and complete a Letter of Transmittal to receive their cash consideration [5][6]

Core Points - Entourage Health Corp. has amended its credit facilities, increasing the Subordinated Facility by approximately $3,000,000 and extending the maturity date to December 31, 2025 [2][3] - The lender for both facilities is 2437653 Ontario Inc., a related party of the LiUNA Pension Fund of Central and Eastern Canada [1][4] - The company has received a forbearance letter from LPF, waiving breaches under the facilities until specific conditions are met [3] Company Overview - Entourage Health Corp. is a Canadian producer and distributor of cannabis products, operating a fully licensed 26,000 sq. ft. processing facility in Aylmer, Ontario [6] - The company has a multi-channel distribution strategy, including partnerships with the largest construction union in Canada and exclusive agreements with wellness brands [6]

Core Points - Entourage Health Corp. has received shareholder approval for a plan of arrangement involving the acquisition of all common shares by 1001095275 Ontario Inc. for cash consideration of $0.005 per share [1][2] - The special resolution for the arrangement was approved by 95.647% of votes cast by shareholders present or represented by proxy, and 90.477% excluding the Purchaser and Guarantor [3] - The arrangement is expected to be effective around March 31, 2025, pending a final order from the Ontario Superior Court of Justice and other customary closing conditions [4] Company Overview - Entourage Health Corp. is a publicly traded parent company of Entourage Brands Corp., which produces and distributes cannabis products for medical and adult-use markets [7] - The company operates a fully licensed processing facility in Aylmer, Ontario, covering 26,000 square feet [7] - Entourage has a multi-channel distribution strategy, including partnerships with LiUNA, the largest construction union in Canada, and offers a range of cannabis brands [7] Additional Information - Registered shareholders must submit a Letter of Transmittal and share certificates to TSX Trust Company to receive cash consideration after the arrangement closes [5] - More details about the arrangement can be found in the management information circular dated February 10, 2025, available on SEDAR+ [6] - The LiUNA Pension Fund of Central and Eastern Canada, involved in the arrangement, is one of the fastest-growing multi-employer pension funds in Canada with over $12 billion in assets [9]

Core Points - Entegris Inc. will replace Arcadium Lithium plc in the S&P MidCap 400 effective March 6, 2025 [1] - Rio Tinto plc is acquiring Arcadium Lithium, with the deal expected to be completed soon [1] Summary by Category Index Changes - Effective March 6, 2025, Entegris will be added to the S&P MidCap 400 under the ticker ENTG in the Information Technology sector [1] - Arcadium Lithium will be deleted from the S&P MidCap 400 under the ticker ALTM in the Materials sector [1]

Financial Performance - For the year ended December 31, 2024, net sales were $3,241.2 million, a decrease of $282.7 million, or 8%, from 2023[218] - The decrease in net sales was primarily due to the absence of $434.2 million in sales associated with divested businesses and a reduction of $23.4 million from unfavorable foreign currency translation effects[219] - Gross profit for 2024 was $1,486.7 million, representing 45.9% of net sales, compared to $1,497.6 million, or 42.5% of net sales in 2023[218] - Operating income increased to $533.9 million, or 16.5% of net sales, compared to $499.2 million, or 14.2% of net sales in 2023[218] - The company reported net income of $292.8 million, or 9.0% of net sales, compared to $180.7 million, or 5.1% in 2023[218] - Net income rose to $292.8 million, or $1.93 per diluted share, in 2024, compared to $180.7 million, or $1.20 per diluted share, in 2023[234] - Adjusted Operating Income decreased by 3.5% to $742.9 million in 2024, while Non-GAAP EPS increased by 13.6% to $3.00[237] - Non-GAAP net income for 2024 was $455,988, with diluted non-GAAP earnings per share at $3.00, compared to $398,918 and $2.64 in 2023[292] Expenses and Costs - Engineering, research and development expenses rose to $316.1 million, or 9.8% of net sales, up from $277.3 million, or 7.9% in 2023[218] - SG&A expenses decreased by $129.6 million, or 22%, to $446.6 million in 2024 from $576.2 million in 2023[222] - Interest expense decreased to $215.2 million, or 6.6% of net sales, from $312.4 million, or 8.9% in 2023[218] - The company recorded a goodwill impairment of $115,217 in 2023, which was not present in 2024[292] - Interest expense decreased from $312,378 in 2023 to $215,217 in 2024, reflecting improved financial management[291] Sales and Market Performance - North America sales decreased by 25% to 21% of total sales in 2024, while Taiwan sales increased by 12% to 20%[220] - Materials Solutions net sales decreased by 17% to $1,400.1 million in 2024, primarily due to the absence of $434.2 million in sales from divested businesses[242] - Advanced Purity Solutions reported flat net sales of approximately $1,850.2 million in 2024, with a segment profit decrease of 7% to $496.1 million[246] Cash Flow and Debt Management - Total debt decreased to $3,981.1 million in 2024 from $4,577.1 million in 2023[251] - Cash and cash equivalents decreased to $329.2 million in 2024 from $456.9 million in 2023[251] - In 2024, the net cash provided by operating activities was $631.7 million, a decrease of $12.8 million compared to $644.5 million in 2023[254] - Cash used in investing activities in 2024 was $67.1 million, a significant decrease from $553.1 million provided in 2023, primarily due to less proceeds from divestitures of $564.2 million[258] - Cash used in financing activities was $689.0 million in 2024, down from $1,297.5 million in 2023, mainly due to decreased net debt activity of $635.9 million[261] - Total debt (par value) decreased to $4.045 billion as of December 31, 2024, from $4.669 billion in 2023[263] - The company repaid $623.8 million net of borrowings under the term loans B during the fiscal year 2024[264] - The company had cash requirements totaling $5.414 billion as of December 31, 2024, with $395.6 million due within one year[269] Future Outlook and Investments - The company expects capital expenditure spending to be approximately $325.0 million in 2025, including investments in a new manufacturing facility in Colorado Springs, Colorado[271] - The company entered into a definitive agreement with the U.S. Department of Commerce for up to $77.0 million in funding under the CHIPS and Science Act to support a new facility in Colorado Springs[212] Currency and Interest Rate Impact - A 100-basis point change in interest rates could impact annual net income by approximately $2.5 million in 2024 and $3.4 million in 2023[293] - Approximately 16.7% of sales in 2024 were denominated in foreign currencies, which could lead to a revenue decrease of about $53.2 million if those currencies depreciate by 10% against the U.S. dollar[294] Other Financial Metrics - Adjusted EBITDA for 2024 was $931,074, accounting for 28.7% of net sales, compared to $942,355 and 26.7% in 2023[291] - Goodwill impairment was recorded at $115.2 million in 2023, with no impairment recorded in 2024[218] - The company utilized non-GAAP financial measures, including Adjusted EBITDA and Non-GAAP EPS, to provide additional insights into its performance[277]

2 This presentation 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 the ongoing impacts of the COVID-19 pandemic and the conflict in Ukraine on the Company's operations and markets, including supply chain issues and inflationary pre ...