ENTG - Entegris falls lowest in more than 2 years on dismal Q3 earnings sees Q4 revenue below estimates

• Entegris ( NASDAQ: ENTG ) slumps ~20% to $64.6 after the company missed Q3 estimates and forecast Q4 revenue below estimates, hurt by the impact of the new U.S. government export restrictions and softening in the semiconductor market.
• The stock is the lowest it's been since September 2020 and has set a new 52-week low price of $63.71.
• The company expects Q4 revenue in the range of $930M-$970M vs consensus of $1.02B.
• "We estimate that the impact of the U.S. government’s announced new export controls restricting the sale of semiconductor technology to certain companies in China will reduce sales by approximately $40 million to $50 million in the fourth quarter of 2022," the company said.
• Revenue rose ~72% Y/Y to of $993.83M, but missed estimates by $16.17M. While, Q3 Non-GAAP EPS of $0.85 missed by $0.15.

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