Entegris falls as downbeat Q2 forecasts highlight tariff risks

Shares of chip manufacturing supplier Entegris ENTG.O slide 7% to $77.2 premarket

Co says accounting for the anticipated tariff impact on its U.S. sales to China, ENTG sees Q2 rev in the range of $735 mln - $775 mln, falling short of analysts' consensus estimate of $823.5 mln, according to data compiled by LSEG

Guidance of Q2 adj. profit in the range of 60 - 67 cents a share also falls below estimates of 71 cents/share

“While new tariff regimes have increased uncertainty in our industry and have impacted forward visibility, our overall business remains strong," CEO Bertrand Loy says

Reports Q1 rev of $773 mln and adj. EPS of 67 cents, both miss analysts' estimates

10 of 12 brokerages covering the stock rate it "buy" or higher, rest going for "hold"; their median PT is $120

Up to Tuesday's close, stock had fallen more than 16% YTD