Entegris (NASDAQ: ENTG) shares tumbled 7.14% in pre-market trading on Wednesday following the release of its first-quarter earnings report, which fell short of analyst expectations and provided disappointing guidance for the upcoming quarter.
The semiconductor materials and equipment supplier reported adjusted earnings per share of $0.67, narrowly missing the analyst consensus estimate of $0.68. This represents a 1.47% decrease compared to the same period last year. Revenue for the quarter came in at $773.20 million, falling short of the expected $789.91 million and only showing a marginal 0.28% increase year-over-year.
Adding to investor concerns, Entegris provided a weak outlook for the second quarter. The company forecasts adjusted earnings per share between $0.60 and $0.67, which falls below the current quarter's results. Additionally, the projected adjusted net income range of $91-102 million suggests potential headwinds in the near term. These factors combined have likely contributed to the significant pre-market sell-off as investors reassess their expectations for the company's growth and profitability in the current market environment.
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