Benzinga -
- Benchmark analyst Mark Miller had a Hold rating on MKS Instruments, Inc (NASDAQ: MKSI).
- For its 4Q22, MKS reported adjusted EPS of $2.00 on record quarterly sales of $1.09 billion.
- These results include a full quarter of the Atotech acquisition.
- The consensus estimate for MKS’s 4Q22 called for adjusted EPS of $1.34 per diluted share on sales of $994 million.
- MKS reported a quarterly cash flow from operations of $184 million and a free cash flow of $130 million, enabling a $100 million voluntary term loan prepayment in December.
- The company anticipates the previously announced ransomware incident identified on February 3 to have a material impact on the company’s Q1 results.
- MKS is yet to determine the full scope of the costs and related impacts of the incident.
- As a result, the company will not provide its usual Q1 guidance at this time.
- The company currently estimates the impact of the incident on Q1 revenue to be at least $200 million.
- MKS expects to resume its normal guidance practice for Q2.
- Commentary indicated results were driven by “solid operational execution,” though KeyBanc analyst Steve Barger expected comments surrounding segment performance on Wednesday’s call given the communicated softness in Semiconductor and Electronics & Packaging (previously Advanced Electronics).
- The analyst expects to hear more detail about the ransomware event, commentary surrounding 2023, end markets, ATC contribution, and expected margin progression on Wednesday’s call.
- Price Action: MKSI shares traded higher by 7.20% at $98.82 on the last check Tuesday.
| Feb 2022 | Loop Capital | Initiates Coverage On | Buy | |
| Jan 2022 | Deutsche Bank | Maintains | Buy | |
| Jan 2022 | Rosenblatt | Maintains | Buy |
View the Latest Analyst Ratings
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.