MKS Instruments, Inc. (NASDAQ:MKSI) Q2 2022 Earnings Conference Call July 28, 2022 8:30 AM ET

Company Participants

David Ryzhik - Vice President, Investor Relations

John Lee - President & Chief Executive Officer

Seth Bagshaw - Senior Vice President & Chief Financial Officer

Conference Call Participants

Amanda Scarnati - Citi

Patrick Ho - Stifel

Joe Quatrochi – Wells Fargo

James Ricchiuti - Needham & Company

Krish Sankar - Cowen

Paretosh Misra - Berenberg

Mark Miller - The Benchmark Company

Operator

Good day, and thank you for standing by, and welcome to MKS Instruments Second Quarter 2022 Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, David Ryzhik, Vice President of Investor Relations. Please go ahead.

David Ryzhik

Thank you. Good morning, everyone. I'm David Ryzhik, Vice President of Investor Relations and I'm joined this morning by John Lee, President and Chief Executive Officer; and Seth Bagshaw, Senior Vice President and Chief Financial Officer.

Yesterday after market closed, we released our financial results for the second quarter of 2022, which are posted to our website, which we recently changed to mks.com. As a reminder various remarks about future expectations, plans and prospects for MKS comprise forward-looking statements. Actual results may differ materially as a result of various important factors including those discussed in yesterday's press release and in our most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q.

These statements represent the company's expectations only as of today and should not be relied upon as representing the company's estimates or views as of any date subsequent to today and the company disclaims any obligation to update these statements.

During the call, we will be discussing various financial measures. Unless otherwise noted, all forward-looking financial measures exclude any contribution from Atotech Limited, the acquisition of which is still pending. Also unless otherwise noted, all income statement-related financial measures will be non-GAAP other than revenue. Please refer to our press release and the presentation materials posted to our website for information regarding our non-GAAP financial results and a reconciliation of our GAAP and non-GAAP financial measures.

Now I'll turn the call over to John.

John Lee

Thanks David. Good morning, everyone and thank you for joining us today. We delivered exceptional results in the second quarter with record revenue of $765 million and strong profitability with net earnings per diluted share of $2.59. Both metrics exceeded the high end of our guidance range as we manage through continued supply chain constraints and inflationary pressures. These results are a testament to our ability to execute by managing costs and factory efficiency, while continuing to invest in our ambitious R&D plans for the future. This performance is also the result of the hard work, dedication and ingenuity of our employees, as well as the collaboration with our valued supply chain partners and customers who continue to place their trust in MKS.