ENTG - Entegris nears 52-week low on dismal Q3 earnings Q4 revenue forecast below estimates
- Entegris ( NASDAQ: ENTG ) falls 12% to $71 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 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.
- Stock is down ~48% YTD and is trading close to its 52-week low price of $70.67.
For further details see:
Entegris nears 52-week low on dismal Q3 earnings, Q4 revenue forecast below estimates