From Nasdaq: 2024-05-09 10:59:00

MKS Instruments (MKSI) reported first-quarter 2024 adjusted earnings of $1.18 per share, a significant increase from the previous year. Revenues of $868 million exceeded expectations and saw a 9.3% year-over-year growth, with strong performance across products and services sectors.

Revenue breakdown reveals growth in Semiconductor and Specialty Industrial markets, with Electronics & Packaging showing a slight decline. The company demonstrated improved operating margins and an 82.3% increase in adjusted operating income, with adjusted EBITDA rising by 55%.

MKS Instruments ended the quarter with cash and cash equivalents of $845 million. Cash flow from operations was $67 million, while free cash flow stood at $49 million. The company also paid a cash dividend of $15 million or 22 cents per share.

For the upcoming quarter, MKSI expects revenues around $860 million, with an adjusted EBITDA of $197 million and non-GAAP earnings of 93 cents per share. The company holds a Zacks Rank #3 (Hold), with shares having gained 19.9% year to date.

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Read more at Nasdaq: MKS Instruments (MKSI) Q1 Earnings Top Estimates, Revenues Up