BUZZ-Entegris falls as downbeat Q2 forecasts highlight tariff risks

Reuters
07 May
BUZZ-Entegris falls as downbeat Q2 forecasts highlight tariff risks 

** Shares of chip manufacturing supplier Entegris ENTG.O slide 7% to $77.2 premarket

** Co says accounting for the anticipated tariff impact on its U.S. sales to China, ENTG sees Q2 rev in the range of $735 mln - $775 mln, falling short of analysts' consensus estimate of $823.5 mln, according to data compiled by LSEG

** Guidance of Q2 adj. profit in the range of 60 - 67 cents a share also falls below estimates of 71 cents/share

** “While new tariff regimes have increased uncertainty in our industry and have impacted forward visibility, our overall business remains strong," CEO Bertrand Loy says

** Reports Q1 rev of $773 mln and adj. EPS of 67 cents, both miss analysts' estimates

** 10 of 12 brokerages covering the stock rate it "buy" or higher, rest going for "hold"; their median PT is $120

** Up to Tuesday's close, stock had fallen more than 16% YTD

(Reporting by Shashwat Chauhan in Bengaluru)

((Shashwat.Chauhan@thomsonreuters.com))

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