![](https://cdn.benzinga.com/files/imagecache/2048x1536xUP/images/story/2022/04/26/abtech_6.png)
- Entegris, Inc (NASDAQ:ENTG) reported first-quarter FY22 sales growth of 27% year-on-year to $649.6 million, beating the consensus of $640.9 million.
- Revenue from Specialty Chemicals and Engineered Materials segment rose 17.9% Y/Y to $196.4 million; Microcontamination Control expanded 28.7% Y/Y to $266.6 million; Advanced Materials Handling improved 33.4% Y/Y to $198.1 million.
- Margins: The adjusted gross margin expanded 190 basis points to 47.7%, and the adjusted operating margin expanded 310 basis points to 28.1%.
- The non-GAAP EPS of $1.06 beat the consensus of $0.99.
- Entegris generated $63.8 million in operating cash flow and held $352.7 million in cash and equivalents.
- CEO Bertrand Loy said: "Growth was significant across all three divisions, driven by robust industry conditions and more wafers produced at the leading edge, which continues to translate into strong demand for our solutions."
- Loy added: "While supply chain issues continue to be a concern for the balance of the year, industry growth remains robust, and we expect record demand for our products. As a result, we are raising our outlook for the full year 2022."
- Loy added: "Finally, we are pleased with the progress we have made toward the pending acquisition of CMC Materials and continue to expect that it will close in the second half of this year."
- Outlook: Entegris sees Q2 sales of $660 million - $680 million versus the consensus of $663.9 million. It sees non-GAAP EPS of $1.02 - $1.07 versus the consensus of $1.02.
- Price Action: ENTG shares closed higher by 1.7% at $114.59 on Monday.