MKS Inc. · NASDAQ:MKSI
MKS — Q3 2026 Earnings Presentation
20 slides from MKS's earnings presentation, Nov 5, 2026
Slide 1: Third Quarter 2026 Financial Results
Third Quarter 2026 Financial MKS Inc. November 5, 2026 Results
Slide 2: Safe Harbor for Forward-Looking Statements
Safe Harbor for Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the future financi
Slide 3: Notes on Presentation
Notes on Presentation Use of Non-GAAP Financial Measures This presentation includes financial measures that are not in accordance with U.S. generally accepted accounting principles (“Non-GAAP financial measures”). These Non- GAAP financial measures should be viewed in addition to, and not as a subst
Slide 4: Q3 2026: Delivering in a Strengthening Demand Environment
Q3 2026: Delivering in a Strengthening Demand Environment $1.4B 47.7% $434M $4.18 NON-GAAP REVENUE GROSS MARGIN ADJUSTED EBITDA NET EARNINGS PER DILUTED SHARE ● Revenue and key profitability metrics came in at the high end or above our guidance ranges ● Results reflect unprecedented demand across MK
Slide 5: Semiconductor
Semiconductor Q3 Highlights Business Trends Guidance Q3 2026 Q/Q CHANGE +15% Q4 2026 $638M Y/Y CHANGE +54% $700M+/- $15M REVENUE Y/Y CHANGE1 +55% REVENUE Excluding FX ● Strong broad-based growth across vacuum and ● Q4 revenue growth expected to accelerate photonics solutions, including power, pressu
Slide 6: Electronics & Packaging
Electronics & Packaging Q3 Highlights Business Trends Q/Q CHANGE +9% Guidance Q3 2026 Q4 2026 $415M Y/Y CHANGE +43% $430M+/- $15M REVENUE Y/Y CHANGE1 +39% REVENUE Excluding FX & Palladium ● Accelerating revenue growth year-over-year ● Q4 revenue expected to grow sequentially and driven by strong AI
Slide 7: Specialty Industrial
Specialty Industrial Q3 Highlights Business Trends Q/Q CHANGE +15% Guidance Q3 2026 Q4 2026 $360M Y/Y CHANGE +27% $360M+/- $10M REVENUE Y/Y CHANGE1 +27% REVENUE Excluding FX & Palladium ● Sequential growth reflects strong momentum in ● Expect Q4 revenue to remain flat sequentially, datacom and impr
Slide 8: Q3'26 Revenue & Select Financial Measures
Q3’26 Revenue & Select Financial Measures Q3’26 SUMMARY Y/Y Change Excl. ● Revenue above the high end of guidance, driven by Q3'26 Q2'26 Q3'25 FX and Pd(1) strength across all end markets Semiconductor $638M $554M $415M 55% Electronics & Packaging $415M $381M $289M 39% ● Gross margin above mid-point
Slide 9: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Q3’26 SUMMARY Q3'26 Q2'26 ● Liquidity of over $1.6 billion, consisting of $676 million Cash and Cash Equivalents $676M $611M of cash and cash equivalents and an undrawn Trade Accounts Receivable, Net $902M $830M revolving credit facility of $1.0 billion Inventories $1,162M
Slide 10: Outlook
Outlook Outlook Q4'26 Q3'26 Actual ● Revenue outlook by end-market: Revenue $1,490M +/- $40M $1,413M ‒ Semiconductor – $700M +/- $15M Non-GAAP Financial Measures ‒ Electronics & Packaging – $430M +/- $15M Gross Margin 47.5% +/- 100 bps 47.7% ‒ Specialty Industrial – $360M +/- $10M Operating Expenses
Slide 11: Building Momentum in 2H 2026
Building Momentum in 2H 2026 ● Robust order volumes, improving visibility support healthy revenue outlook as AI-related investments accelerate ● Business model demonstrating strong operating leverage ● Poised to deliver >85% annual Non-GAAP EPS growth in 2026 at mid-point of Q4 guidance ● Winning ne
Slide 12: Q&A
Q&A
Slide 13: Q3'26 Revenue
Q3’26 Revenue Q3’26 Specialty Industrial 25% Semi 45% Electronics & Packaging 29% Consumables & Service 36% 2025 2026 Q3'26 vs Q3'25(1) Change Total Excluding Q1 Q2 Q3 Q4 FY'25 Q1 Q2 Q3 Change FX Pd FX & Pd Semiconductor $ 413 $ 432 $ 415 $ 435 $ 1,696 $ 466 $ 554 $ 638 54% -1% 0% 55% Electronics &
Slide 14: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q4'26E Q3'26 Q2'26 Q3'25 Net income $ 294 $ 236 $ 175 $ 74 Restructuring and other 6 5 6 4 Amortization of intangible assets 61 62 62 63 Loss on extinguishment of debt 8 5 4 2 Amortization of debt issuance costs 3 3 3 5 Tax effect of Non-GAAP adjustments (
Slide 15: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q4'26E Q3'26 Q2'26 Q3'25 Operating expenses $ 355 $ 348 $ 344 $ 323 Restructuring and other 6 5 6 4 Amortization of intangible assets 61 62 62 63 Non-GAAP operating expenses $ 288 $ 281 $ 275 $ 256 Income from operations $ 353 $ 326 $ 251 $ 138 Operating m
Slide 16: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q4'26E Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Net income $ 294 $ 236 $ 175 $ 84 $ 108 $ 74 Interest expense, net 35 36 36 43 47 50 Other expense (income), net (0) (2) (2) (1) 6 2 Provision (benefit) for income taxes 16 51 38 18 (19) 10 Depreciation 26 26 23 22 24 2
Slide 17: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q3'26 Q2'26 Net cash provided by operating activities $ 292 $ 243 Purchases of property, plant and equipment (49) (55) Free cash flow $ 243 $ 188 Q3'26 Q2'26 Free cash flow $ 243 $ 188 Cash paid for interest 45 29 Tax effect on cash paid for interest1 (9)
Slide 18: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q3'26 Q2'26 Income Before Provision for Effective Tax Income Before Provision for Effective Tax Income Tax Income Taxes Rate Income Tax Income Taxes Rate GAAP $ 287 $ 51 17.6% $ 213 $ 38 17.8% Restructuring and other 5 — 6 — Amortization of intangible asse
Slide 19: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations 2026E Income Before Provision for Effective Tax Income Tax Income Taxes Rate GAAP $ 911 $ 122 13.4% Acquisition and integration costs — — Restructuring and other 19 — Legal Settlement 3 — Amortization of intangible assets 248 — Loss on extinguishment of de
Slide 20: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Non-GAAP financial measures adjust GAAP financial measures for the items listed below. These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, MKS’ reported GAAP results, and may be different from Non-GAAP financial