E.

Entegris, Inc.

Q2 FY26Semiconductors and Semiconductor Equipment

Entegris, Inc. Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management said on revenue, margins and capex.

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What the Q2 FY26 call signalled

3 of 4 strong

RevenueModerate growth

MarginMargins up

CapexCapex planned

Order bookOrder book rising

Price₹138

Market cap₹21.1K Cr

P/E82.2

Updated29 May 2026

Read4 min read

The short version

- Q1 sales increased 5% YoY, with positive guidance for continued growth (Page 3, 11). - Entegris expects ongoing revenue growth driven by strong demand in advanced logic, memory (especially DRAM), and improving fab construction trends, supporting growth into 2027 and beyond.

From Entegris, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Moderate growth

Q1 sales increased 5% YoY, with positive guidance for continued growth (Page 3, 11).
MSI (Materials Solutions) volume growth updated from low single digits to mid- to high single digits, driven by advanced logic, DRAM, and incremental NAND (Page 9).
Fab construction forecast increased from low single digits to high single digits, signaling strong demand and optimism for 2027 (Page 9).
Expected mid- to high single-digit industry MSI growth for remainder of 2026, supported by strong DRAM demand and advanced logic ramp (Page 3).
Growth drivers include technology transitions in advanced logic (2nm ramp), DRAM capacity investments, and NAND layer scaling increasing content per wafer (Page 3, 11).

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Profitability & Margins

Entegris expects ongoing revenue growth driven by strong demand in advanced logic, memory (especially DRAM), and improving fab construction trends, supporting growth into 2027 and beyond.
Adjusted gross margin and EBITDA margin exceeded guidance in Q1 and are projected to continue improving, supported by productivity, efficiency actions, and manufacturing network optimization.
Full-year 2026 outlook includes 5% revenue growth in Q2 with expectations for further sequential improvement in Q3.
Gross margins are anticipated to structurally improve with ongoing factory rationalization, higher fixed cost absorption, and improved yields.
Operating expenses will rise modestly due to investments supporting growth, but EBITDA margin is expected to expand.

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Capital Expenditure Plans

Capex planned

About 25% of Entegris' revenue is CapEx-related: 1/3 wafer fab equipment (WFE) and 2/3 fab construction.
Industry fab construction forecast increased from low single digits to high single digits in 2026.
CapEx-driven revenue typically follows three waves: fab construction products first, then gas purification and fluid management (~9-12 months after groundbreaking), and finally unit-driven products (~24 months after groundbreaking).
Memory (especially DRAM) is in wave 1 of the CapEx cycle; advanced logic is in waves 2 and 3.
Strong fab spending growth in 2026 driven by leading-edge logic and memory capacity additions.
Entegris booked CapEx orders through late 2026 and into 2027, supporting incremental volumes and improving gross margins.

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Fundraising & Capital Structure

The company is focused on deleveraging, aiming to reduce net leverage from 3.6x to approximately 3x by the end of 2026.
They have repaid $50 million of term loan in Q1 2026 and plan to continue term loan repayments this year.
Current term loan balance is $400 million, the only variable rate debt.
Emphasis is on improving profitability and free cash flow to reduce leverage.

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Order Book & Pipeline

Order book rising

The third quarter guide incorporates current visibility from the order book, particularly related to CapEx.
The guide includes a 5% sequential sales growth from Q2 to Q3 and about 8% year-over-year growth when comparing Q3 2026 to Q3 2025.
The order book provides some visibility to this growth.
CapEx order book is strong and booked through late 2026, extending into 2027 for some items.

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Others in Semiconductors and Semiconductor Equipment this season

FormFactor, Inc. (Q2 FY26)
FormFactor, Inc. Q2 FY26 quarterly results analysis. FormFactor expects continued strong revenue growth, with Q2 2026 guidance at $240 million ± $5 million, up
Skyworks Solutions, Inc. (Q2 FY26)
Skyworks Solutions, Inc. Q2 FY26 quarterly results analysis. Revenue opportunity expected to rise year-over-year, acting as a growth tailwind through 2030 (Page
Onto Innovation Inc. (Q2 FY26)
Onto Innovation Inc. Q2 FY26 quarterly results analysis. Advanced packaging revenue expected to grow more than 50% in 2026, driven by Dragonfly G5 and panel-lev
Nova Ltd. (Q2 FY26)
Nova Ltd. Q2 FY26 quarterly results analysis. Nova expects robust growth driven by advanced DRAM, Logic (including gate-all-around), and advanced packaging mark

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Frequently Asked Questions

What were Entegris, Inc. Q2 FY26 results?

- Q1 sales increased 5% YoY, with positive guidance for continued growth (Page 3, 11). - Entegris expects ongoing revenue growth driven by strong demand in advanced logic, memory (especially DRAM), and improving fab construction trends, supporting growth into 2027 and beyond.

What is Entegris, Inc. share price analysis?

Entegris, Inc. currently shows a below-average growth signal. The stock trades at a P/E of 82.2 with a market cap of $21,112. Investors should review the full earnings analysis for detailed insights.

Is Entegris, Inc. planning capital expenditure?

- About 25% of Entegris' revenue is CapEx-related: 1/3 wafer fab equipment (WFE) and 2/3 fab construction.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.