Entegris (ENTG) Q2 Earnings and Revenues Top Estimates

Company Performance - Entegris reported quarterly earnings of $0.71 per share, exceeding the Zacks Consensus Estimate of $0.70 per share, and up from $0.66 per share a year ago, representing an earnings surprise of 1.43% [1] - The company posted revenues of $812.65 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.47%, but down from $901 million in the same quarter last year [2] - Over the last four quarters, Entegris has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Stock Performance and Outlook - Entegris shares have increased approximately 2.2% since the beginning of the year, while the S&P 500 has gained 14% [3] - The company's current consensus EPS estimate for the upcoming quarter is $0.84 on revenues of $856.25 million, and for the current fiscal year, it is $3.25 on revenues of $3.34 billion [7] - The estimate revisions trend for Entegris is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Electronics - Manufacturing Machinery industry, to which Entegris belongs, is currently ranked in the top 6% of over 250 Zacks industries, suggesting strong performance potential [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]