UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-23621 MKS INSTRUMENTS, INC. (Exact name of registrant as specified in its charter) Massachusetts 04-2277512 (State or other jurisdic ...

MKS Instruments (MKSI) reported adjusted earnings of $1.18 per share in first-quarter 2024, up from the year-ago quarter’s earnings of 48 cents. The figure beat the Zacks Consensus Estimate by 57.33%.Revenues of $868 million beat the consensus mark by 0.73% and increased 9.3% year over year.Products revenues (86.9% of total revenues) were $754 million, up 5.9% year over year.Services revenues (13.1% of total revenues) rallied 39% year over year to $114 million. Quarterly UpdateRevenues from the Semiconducto ...

Financial Data and Key Metrics - Q1 2024 revenue was $868 million, exceeding the midpoint of guidance [2] - Adjusted EBITDA was $217 million, representing a 25% margin and exceeding the high end of guidance [2][25] - Net earnings per diluted share were $1.18, exceeding the high end of guidance [2] - Gross margin was 47.8%, exceeding the high end of guidance [62] - Operating margin was 20.2%, exceeding the high end of guidance [5] - Net leverage ratio was 4.3x based on trailing 12 months adjusted EBITDA of $940 million [38] - Free cash flow was $49 million and unlevered free cash flow was $108 million [38] Business Line Data and Key Metrics - Semiconductor market revenue was $351 million, above the high end of guidance and down 3% sequentially [61] - Electronics and packaging market revenue was $208 million, in line with guidance and down 8% sequentially [36] - Specialty industrial market revenue was $309 million, above the midpoint of guidance and up 1% sequentially [24] - Consumables and services revenue comprised 42% of total revenue across all end markets [24] Market Data and Key Metrics - Semiconductor market demand remains muted due to low NAND equipment spending, but inventories are more balanced compared to previous quarters [33] - Electronics and packaging market saw a slight pickup in demand for plating equipment lines driven by AI server demand [21] - Specialty industrial market revenue was slightly better than expected, driven by Life and Health Sciences and research and defense markets [22] Company Strategy and Industry Competition - The company is focused on managing costs while investing in innovation to capitalize on future opportunities [5] - AI is identified as a powerful secular trend driving growth in the industry [8] - The company is well-positioned for the next cyclical upturn due to its differentiated product and technology portfolio [6] - The acquisition of Atotech has contributed significantly to gross and operating margins, with cost synergies exceeding targets [37] Management Commentary on Operating Environment and Future Outlook - The company expects a slow recovery in the semiconductor and electronics and packaging markets in the second half of 2024 [30][40] - Early signs of improvement in memory pricing and demand tied to AI applications are encouraging [58] - The company is prepared to support higher run rates and capacity expansions as needed [68] Other Important Information - The company refinanced its term loan and completed a $50 million voluntary debt prepayment in Q1 [25] - Q2 2024 revenue is expected to be $860 million plus or minus $40 million, with semiconductor revenue expected to be $335 million plus or minus $15 million [64] - Q2 2024 adjusted EBITDA is expected to be $197 million plus or minus $23 million [41] Q&A Session Summary Question: Recovery timing for memory and leading-edge markets [68] - The company expects a slow recovery in the second half of 2024 but is prepared for potential inflections in demand [68] Question: Advanced packaging opportunities and complexity [69][70] - AI is driving demand for more complex substrates, benefiting the company's laser drilling, chemistry, and plating equipment solutions [69][70] Question: Pricing environment and Atotech's impact on margins [72] - Pricing has been strong, with Atotech contributing significantly to gross margins across all divisions [72] Question: NAND inventory burn-down and revenue opportunities [94][95] - NAND inventory burn-down is expected to continue into the second half of 2024, with revenue opportunities tied to node upgrades [94][95] Question: Free cash flow and net leverage [104][106] - The company is focused on deleveraging, with free cash flow and net leverage dependent on profitability and revenue growth [104][106] Question: Services gross margin strength [97][98] - Services gross margins were strong due to favorable product mix, pricing, and reduced cost pressures [97][98]

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MKS Instruments (MKSI) came out with quarterly earnings of $1.18 per share, beating the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 57.33%. A quarter ago, it was expected that this maker of analysis and processing equipment for semiconductor companies would post earnings of $0.89 per share when it actually produced earnings of $1.17, delivering ...

EXHIBIT 99.1 MKS Instruments Reports First Quarter 2024 Financial Results • Quarterly revenue of $868 million, above the midpoint of guidance • Quarterly GAAP net income of $15 million and net income per share of $0.22 • Quarterly Adjusted EBITDA of $217 million and Non-GAAP net earnings per diluted share of $1.18, exceeding the high-end of guidance Andover, MA, May 8, 2024 -- MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of enabling technologies that transform our world, today reported first quar ...

ANDOVER, Mass., May 08, 2024 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ:MKSI), a global provider of enabling technologies that transform our world, today announced that its Board of Directors has authorized a quarterly cash dividend of $0.22 per share, payable on June 7, 2024, to shareholders of record as of May 28, 2024. Future dividend declarations, as well as the record and payment dates for such dividends, are subject to the final determination of the Company's Board of Directors. About MKS Instr ...

ANDOVER, Mass., May 06, 2024 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ:MKSI), a global provider of enabling technologies that transform our world, has been recognized as an outstanding supplier by Samsung Electro-Mechanics (SEMCO), a world-class company that develops and produces major electronics components, for the development and trial production of new products with MKS' Atotech team in Korea. "This recognition reflects the strong partnership and deep trust that has been established between MKS ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (MARK ONE) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File number 0-23621 MKS INSTRUMENTS, INC. (Exact Name of Registrant as Specified in Its Charter) Massachusetts 04-22775 ...

MKS Instruments, Inc. (NASDAQ:MKSI) Q4 2023 Results Conference Call February 8, 2024 8:30 AM ET Company Participants David Ryzhik - VP, IR John Lee - President, CEO Seth Bagshaw - EVP, CFO Conference Call Participants Jim Ricchiuti - Needham & Company Joe Quatrochi - Wells Fargo Krish Sankar - TD Cowen Steve Barger - KeyBanc Capital Markets Operator Good day, and thank you for standing by. Welcome to the MKS Instruments Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions]. Ple ...