RTTNews | Jul 23, 2020 09:58AM EDT

09:57 Thursday, July 23, 2020 (RTTNews.com) - Shares of Entegris Inc. (ENTG) touched a 52-week high of $67.86 Thursday morning, and are currently trading at $67.58, up $4.95 or 7.90%. Trading volume is moving over 465K versus an average volume of 934K shares.

The company, on Thursday, issued an upbeat Q3 guidance, while reporting better-than-expected results for the second quarter.

Q3 Guidance

The company expects Q3 GAAP net income to be in the range of $70 million - $78 million, or $0.60 - $0.66 per share, non-GAAP income of $82 million - $90 million or $0.60 - $0.66 per share, on sales between $450 million and $475 million. Wall Street analysts estimate earnings of $0.48 per share on revenue of $409.68 million for the quarter.

Q2 Results

The company's Q2 net income was $68.0 million or $0.50 per share versus $123.9 million or $0.91 per share last year.

On a non-GAAP basis, net income increased to $81.6 million or $0.60 per share from $53.4 million or $0.39 per share reported a year ago.

Net sales totaled $448.4 million, higher than the previous year's $378.9 million.

Analysts polled by Thomson Reuters expected earnings of $0.48 per share on revenue of $417.42 million for the quarter. Analysts' estimate typically exclude certain special items.

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