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MKS Instruments Beats Q2 Estimates
August 8, 2024 | GlobeNewswireEstimated reading time: 1 minute
MKS Instruments, Inc., a global provider of enabling technologies that transform our world, reported second quarter 2024 financial results.
“Our continued execution, especially in our Semiconductor and Electronics & Packaging markets, drove strong financial results in the second quarter. Revenues of $887 million were at the high end of our guidance while Adjusted EBITDA exceeded the upper end of that same guidance,” said John T.C. Lee, President and Chief Executive Officer. “As a critical enabler of chipmaking, package substrates and printed circuit boards, we have been able to leverage our broad and differentiated product portfolio and commitment to prudent cost control to generate healthy profits, even in a muted semiconductor and advanced electronics environment.”
Mr. Lee added, “The team continues to deliver robust gross margins as we closely manage the cost structure through the current cycle. In addition, we have taken proactive measures to improve our debt profile, including our convertible notes offering in May as well as another repricing and voluntary term loan prepayment of $110 million in July. These actions set the stage for improved operating and earnings leverage when demand conditions recover.”
Third Quarter 2024 Outlook
For the third quarter of 2024, the Company expects revenue of $870 million, plus or minus $40 million, Adjusted EBITDA of $206 million, plus or minus $23 million, and Non-GAAP net earnings per diluted share of $1.43, plus or minus $0.28.
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