I would now like to turn the call over to Bill Seymour, Vice President of Investor Relations. Good morning, everyone. Earlier today, we announced the financial results for our first quarter of 2024. Before we begin, I would like to remind listeners that our comments today will include some forward-looking statements. These statements involve a number of risks and uncertainties, and actual results could differ materially from those projected in the forward-looking statements. Additional information regarding these risks and uncertainties is contained in our most recent annual report and subsequent quarterly reports that we have filed with the SEC. Please refer to the information on the disclaimer slide of the presentation. On this call, we will also refer to non-GAAP financial measures as defined by the SEC and Regulation G. You can find a reconciliation table in today's news release, as well as on the IR page of our website at entegris.com. Finally, for your reference, we have included in the earnings slide presentation consolidated and divisional P&Ls for Q1 and for all four quarters of 2023 that exclude divestitures. On the call today are Bertrand Loy, our CEO, and Linda LaGorga, our CFO. With that, I'll hand the call over to Bertrand. Thank you, Bill, and good morning. I am pleased with our start to the year. For the first quarter, sales of $771 million were at the high end of our guidance, and gross margin, EBITDA and non-GAAP EPS were above our guidance. Looking deeper at our financial performance, sales were down in all divisions and across most product areas, as expected, and in line with normal seasonality. However, we did see sequential growth in product lines that are critical to our customers' leading-edge node transitions, including selective etch and advanced deposition materials. From a profitability point of view, even with the market uncertainty, we chose to maintain high levels of investment in R&D. Despite this, and despite the lower sales volumes, we delivered strong results in terms of gross margin and EBITDA. Linda will provide more details on all of that shortly. Let me address a few other highlights of the quarter. On March 4th, we announced the sale of the PIM business for a total of up to $285 million. The sale of PIM completes our planned divestiture of four non-core assets, PIM, QED, Electronic Chemicals, and a business we sold to Element Solutions. The approximately $1.3 billion in proceeds from those divestitures were used to significantly pay down our debt. Next, we're making steady progress with our two major investments in new manufacturing capacity, which are vital for us to fully realize our mid and long-term growth. In Taiwan, our new Kaohsiung facility is on track to ramp up production and is expected to contribute $40 million-$50 million of revenue in the second half of the year. In Colorado, construction at our Rockrimmon site is progressing rapidly, and we continue to expect initial sales from this facility to be generated in the first half of 2025. Moving on to our outlook for this year. Our view of the semiconductor industry has not changed. We do believe that the market is healthier, with normalizing inventories and a more stable demand environment, and we continue to expect a gradual market recovery throughout the year. With this as a backdrop, and based on recent forecasts from our customers, for the full year 2024, we continue to expect the market will be up approximately 4% based on our unit and CapEx mix. In addition, given our strong market position in new logic and memory nodes, we continue to expect to outperform the market by 4-5 points this year, excluding the impact of divestitures. Putting it all together, we expect our sales in 2024 will be approximately $3.35 billion. We continue to expect EBITDA to be approximately 29% of revenue and non-GAAP EPS to be greater than $3.25. This annual guidance, of course, includes two months of the PIM business prior to its sale in early March. Let me now turn the call over to Linda. Linda? Good morning, and thank you, Bertrand. Our sales in the first quarter were at the high end of our guidance at $771 million, down 16% year-over-year and down 5% sequentially on an as-reported basis. Q1 sales included approximately two months of revenue from the PIM business. So excluding divestitures from the first quarter and prior periods, Q1 sales were down 5% year-over-year and down 4% sequentially. Foreign exchange negatively impacted revenue by approximately $8 million year-over-year and had no impact to revenue sequentially in Q1. Gross margin on a GAAP and non-GAAP basis was 45.6% in the first quarter, above our guidance. The higher margin compared to Q4 primarily reflects improved plant utilization and the PIM divestiture. Operating expenses on a GAAP basis were $234 million in Q1. Operating expenses on a non-GAAP basis in Q1 were $174 million. Adjusted EBITDA in Q1 was $223 million or 29% of revenue, above our guidance range, driven by the higher gross margin I just discussed, and partially offset by increased R&D investment compared to Q4. Net interest expense was $54 million in Q1, below our guidance of $60 million, driven primarily by the positive impact of the PIM sale. The GAAP tax rate in Q1 was 7.1%, and the non-GAAP tax rate was 14.1%. GAAP diluted EPS was $0.30 per share in the first quarter. Non-GAAP EPS was $0.68 per share, above our guidance range, driven primarily by the higher gross margin and lower net interest expense. Sales for our Material Solutions division in Q1 were $350 million. Sales were down 4% sequentially on an as-reported basis. Excluding the impact of the divestitures, sales were down just 1% sequentially. During the quarter, MS benefited from the early-stage recovery in the memory market, offset by continued weakness in some mainstream end markets. Adjusted as-reported operating margin for MS was 21.5% for the quarter, up almost 500 basis points sequentially. The primary driver of that increase was improved plant utilization. Our AMH division sales in Q1 of $163 million were down 4% sequentially. The largest driver of the sequential sales decline in AMH were lower sales of fluid handling products. Adjusted operating margin for AMH was 15.1% for the quarter. The sequential increase in margin was primarily driven by the positive impact of improved plant utilization ahead of the expected sequential growth in Q2. For our MC division, sales in the quarter of $268 million were down 7% sequentially. Revenue was lower in all major product lines, consistent with our expectations. Adjusted operating margin for MC was 32.3% for the quarter. The sequential decline in margin was primarily driven by lower volumes and steady investment in R&D. Moving on to cash flow. First quarter free cash flow was $81 million. CapEx for the quarter was $67 million. We continue to expect to spend approximately $350 million in total CapEx in 2024. During the first quarter, we paid down a total of $419 million in debt through a combination of approximately $260 million in PIM sale proceeds and the rest from cash on hand. The term loan balance after the Q1 paydown was approximately $955 million, which means to date, we have paid down more than $1.5 billion of the term loan since the CMC acquisition. In addition to the significant debt paydown, at the end of March, we executed a very successful 75 basis point repricing to our term loan, which resulted in a new interest rate of SOFR plus 175. Blended interest on the debt portfolio is now approximately 4.9%, and since the term loan is fully hedged, currently 100% of our debt is fixed. At the end of Q1, our gross debt was approximately $4.3 billion, and our net debt was approximately $3.9 billion. Gross leverage was 4.6x, and net leverage was 4.3x. We continue to expect our gross leverage will be below 4x at the end of 2024. Moving on to our Q2 outlook. We expect sales to range from $790 million-$810 million. This equates to 8.5% sequential growth to the midpoint of the guidance range, excluding divestitures. We expect the EBITDA margin to be approximately 28%. We expect GAAP EPS to be $0.42-$0.47 per share, and non-GAAP EPS to be $0.68-$0.73 per share. Let me provide additional modeling information for Q2. We expect gross margin of 45.5%-46.5%, both on a GAAP and non-GAAP basis. GAAP operating expenses of $242 million-$245 million, and non-GAAP operating expenses of $191 million-$194 million. The sequential increase in non-GAAP OpEx from Q1 to Q2 is primarily driven by higher non-cash equity compensation expense. This year, and going forward, we changed the timing of our equity grants awards to Q2, whereas historically, these grants were made in Q1. We also expect depreciation of approximately $48 million, net interest expense of approximately $51 million, and a non-GAAP tax rate of approximately 15%. I'll now hand it back over to Bertrand for some closing remarks. Thank you, Linda. In closing, we are pleased with our start of the year. During the quarter, we completed our final planned divestiture, and we use the proceeds of that sale and other cash to significantly lower our debt. We continue to expect a gradual market recovery throughout the balance of the year, and we remain very optimistic about the secular long-term growth prospects for the semiconductor industry. In addition, the industry is entering a period of unprecedented technology change and device complexity. Our core competencies in material science and material purity, coupled with our unique ability to co-optimize solutions that shorten time to yield, have become increasingly critical for our customers. All of this means the market is moving toward Entegris, ultimately translating into rapidly expanding content per wafer and strong outperformance for us for years to come, reinforcing Entegris as a value compounder with attractive organic sales growth, leading to significant opportunity for EBITDA and EPS expansion. With that, operator, let's open the line for questions. The floor is now open for questions. At this time, if you have a question or comment, please press star one on your telephone keypad. If at any point your question is answered, you may remove yourself from the queue by pressing star two. Again, we ask that you pick up your handset when posing your questions to provide optimal sound quality. Thank you. Our first question comes from Toshiya Hari with Goldman Sachs. Hi, good morning. Thank you so much for taking the question. Bertrand, my first question is on the industry outlook. You're, you're maintaining the up 4% outlook. I'm sure there's quite, quite a few kind of pluses and minuses, puts and takes there. If you can walk us through, you know, what you're seeing from a, from an wafer start perspective, across DRAM, NAND, leading-edge logic and trailing edge, to, to the extent your views have changed, that would be super helpful. And then a comment or two on the CapEx side as well. And then I've got a quick follow-up for Linda. Thank you. Okay. Thank you, Toshiya. As I said in my prepared comments, our views for the industry have, have not really changed since we spoke last. Essentially, you know, we expect the industry to, to be up 4%, using our industry blend of 75% unit, 25% CapEx. And what we're seeing is, you know, visible signs of life in advanced logic, in, in DRAM, with a steady increase in, wafer fab, production. 3D NAND is going through a slower recovery, but again, it's stable, and we expect some, a gradual recovery in second half of the year. And of course, we've been keeping a close eye on, on mainstream. We saw sharp compression in fab utilization in Q1. We expect a little bit more of that in Q2, but we expect mainstream to stabilize in the back half of the year. Great. Thank you for that. And then for Linda, I guess a two-parter, one on gross margin and the other on OpEx. So gross margin with the divestiture, you know, you're doing really well, and you're guiding Q2 nicely as well. As you think about the second half, I was hoping you could walk us through some of the puts and takes. You know, is there further upside to utilization inside of Entegris, and could that be a tailwind? And how should we be thinking about things like product mix and, you know, the ramp of Taiwan and Colorado? And then OpEx, very quickly, so given the shift in the timing of the grants, is it fair to assume Q3 potentially normalizes lower from an OpEx perspective? Thank you. Sure. So let me first hit your question on gross margin, second half, some of the puts and takes. You know, as Bertrand mentioned, we're expecting a gradual progression of the industry. You know, with that, some of the tailwinds can be some volume leverage, and it, it can be mixed, depending how, how those tailwinds evolve. That being said, Toshiya, as you mentioned, we still have KSP, and, you know, KSP still does provide some headwinds, although we are expecting those headwinds to start to alleviate to some degree with some of the revenue coming on. But, but there is that mix still of headwinds and tailwinds. So, you know, right now, we haven't provided gross margin guidance specifically for the full year, but I would think of those gives and takes as we go through the rest of the year in the second half and see how things evolve. On the OpEx side for the second half, you know, most importantly, I would say we are committed to continuing to invest in our business. And we have said we're gonna have R&D of approximately 9%, and you will see that commitment throughout the year. We have many exciting things to invest in. So right now, as far as OpEx, again, not giving specific guidance, there will be some SG&A leverage, but you should expect to see us continuing to invest going forward, which will offset some of that SG&A leverage. Thank you so much, and congrats. Thank you. Thank you. Our next question comes from John Roberts with Mizuho Securities. Yep, thank you, and nice quarter. Bertrand, you normally have some price down in your products over time. As the mix continues to shift towards leading edge here, do you think the pricing dynamics are gonna change? Look, at high level, I would say that I've been pleased with the pricing trend over the last several years. I mean, it's fair to say that in a softer industry environment, this is not really particularly conducive to price increases. But I think that, again, we've had some more favorable trends in the last three years as compared to the preceding three years. And then maybe could you discuss a little bit more currency, given the weakness we've seen in several of the Asian currencies recently? Sure. I'll go ahead and pick up the currency question. So I would say first, we don't try to forecast FX, but we clearly monitor it. So let me give you the context of how to think about our business. Historically, FX has not had a huge impact on our business, and here's why: Our USD sales are 75% or greater, typically in a quarter. We've also had a natural hedge between our sales and our costs. That being said, we have seen this appreciation in the dollar recently, and when that happens quickly, that does have some impact on our margin due to the timing between when products are built and when they're sold. As we looked at our guidance for April, we looked at the currency rates, you know, as of the end of last week, and we factored that into our thinking, but we're gonna have to continue to monitor currency going forward. Thank you. Thank you. Our next question comes from Bhavesh Lodaya with BMO Capital Markets. Hi, good morning. Thanks for taking my question. Bertrand, with respect to your materials sciences segment, if I look at slide 17, the numbers excluding divestitures, the segment has flat sales sequentially, but operating profits jumped almost 30%. Can you share what drove that margin uplift? And then it seems like memory markets are just starting to recover here, so what kind of margin uplift should we expect heading into 2024 for this segment? Right. So Bhavesh, maybe I can take the implied question on top line and what's driving the top line in MS in this past quarter, and then I will defer to Linda to take more precisely your question on margin. But we obviously were very pleased with the performance of our Material Solutions business. Again, being essentially flat sequentially at a time when, you know, there was some seasonal softness in the industry. So what's behind that is really, I mean, remember that this is the one part of the business that has the most exposure to memory. So obviously, memory was a significant headwind for that business last year, and we've talked about that, especially during the first half of last year. But that headwind has turned into a tailwind, and we've seen some, you know, gradual sequential improvements in that business, in Q3 and Q4, and obviously a very solid Q1, which bodes well for, you know, for the rest of the year. Maybe turning to you, Linda, in terms of the implication on margin. Yeah. Yeah, Bhavesh, on margin, to your point of the increase in margin this quarter for MS, yeah, I mentioned in the call the plant utilization, but let me give you a bit more specifics. You know, for example, we had lines that were idle that are now up and running. I would also say there was a bit of productivity that contributed to that margin ramp and also some SG&A leverage cost efficiency as we combined the two divisions together. Got it. Then there seems to be growing noise around U.S. sanctions on Chinese chipmakers. Also, the Chinese government is talking about phasing out, say, Intel, AMD chips from their operations. Has this changed your view on the sales impact for your company? Are there any offsets where you lose some sales in one area, but you probably make up for that sales as the domestic Chinese players grow in size? I'm sorry, Bhavesh. I didn't hear your question really well. Could you—would you mind repeating it? Absolutely. Yeah, this is just around the sanctions that the U.S. government probably is increasing, I would say, in intensity. And even the Chinese government, they're talking about phasing out Intel and AMD chips from their operations. How does that impact your business? And does your exposure in the Chinese domestic players actually help offset some of this? ... Oh, I see. Yes, well, look, I think that we're not gonna speculate on potential new restrictions or escalation between U.S. and China. I think that the current export restrictions are well understood. We have invested in a solid and capable team to comply with those restrictions. We have quantified that impact, which is about a $20 million loss in revenue on a quarterly basis. We saw that impact reflected in our Q4 2022 numbers and some of it in Q1 2023. But the business has been actually relatively steady. And we continue to do really well with the customers that we can still serve. We saw some steady fab construction activity in China that benefited our AMH business. And then many of those new mainstream fabs have started production, and we saw the benefits of that in our MS and MC divisions as well. So if you look at our China business, which is, again, mostly mainstream and international fabs, I mean, it's been doing pretty well. And again, I won't speculate on what comes next, and we will update you if there's something to talk about. Thank you. Thank you. Our next question comes from Aleksey with KeyBanc Capital Markets. Good morning, everyone. Bertrand, could you describe the new node ramps at your memory customers, the outlook for 2024 and 2025? Yeah, Aleksey, so we are obviously paying close attention to node transitions in 3D NAND and in advanced logic and foundry. As you know, we have incremental wafer content opportunities at those new architectures, so this is something that we're watching closely. And we are pleased, first of all, that all of those transitions still appear to be on time. When it comes to 3D NAND, in particular, we have a number of different Material Solutions that are becoming increasingly critical to those higher layer count architectures. I mean, we've been talking about selective etch for a number of years, but what is really exciting going forward is the adoption of molybdenum in high volume production. And, you know, Entegris has developed a very unique suite of capabilities, leveraging competencies across a number of different business units to develop an industry-leading Pro-E vap canister to sublimate those solid precursors into gases. Those gases are highly corrosive, so we have developed some proprietary protective coatings for the lines and of course, gas filtration and gas delivery cabinets. So, you know, we are very focused on this transition, and those transitions don't happen very often. And we think that we have a unique opportunity to ease the industry migration to molybdenum. So this is something obviously that we're gonna continue to watch very carefully for the balance of the year. Thanks, Bertrand. Just to follow up on this, I guess, is it logical that 2025 could be maybe a more productive, a faster growth year from the content and transition perspective and memory for you than 2024? I think implied, I mean, we're not gonna give you a precise guidance on 2025, but you're right. I think that a lot of those node transitions, be it in memory or in logic, will be taking place late in 2024. And so, of course, you know, the bulk of the opportunity from a top-line standpoint will be... I mean, we've seen we will see a little bit of that, and we expect to see a little bit of that. It's taken into account in our annual guidance for 2024, but the bulk of the positive impact will be felt in 2025. Thanks a lot. Thank you. Our next question comes from Tim Arcuri with UBS. Hi, thanks a lot. I had a different question, Bertrand, on China, and the question really is, it seems like if you read the tea leaves, that the update this fall is gonna be a lot more in the supply chain and more on the material side. And there was already some news that came out about some bans on the material side. So, I mean, I know you're in close contact with the commerce department, you know, so I'm kind of wondering whether you think this presents risk for you this fall when this update comes out. Look, Tim, I don't read tea leaves really well. I'm a coffee drinker myself. But as I said, you know, I'm not gonna speculate. We are obviously working closely with the government, but again, as I said, I'm not gonna speculate on potentially upcoming new rules. Do you have any other question, Tim? I do. I do, Bertrand, yes. So, I'm just wondering, to get to the up 4% market number that you're suggesting, I mean, you know, you're guiding your business up 9, and you're saying that the TAM's up 4%. What is the TAM up 4% based on? Because Gartner has MSI up 11% this year, and if you listen to the equipment companies. You know, WFE's up high single digits. I mean, I'm up more like 10%, but if you listen to them, it's up high single. So if WFE's up high singles and if Gartner MSI is up 11%, how is the TAM up only 4%? I'm just kind of curious how you're getting to that number. Thanks. Yeah, I mean, as you know, a lot of those research firms actually will go through multiple revisions of their guidance and forecasts for the year. I mean, you could say that our assumptions may be conservative, but I think that most, you know, market research firms have actually slowly brought their numbers down when it comes to MSI in particular. So I think that having a wafer start assumption at about 5% is probably a good place to be at this point. And if it is better, then we will of course benefit from that. When it comes to CapEx, remember that our CapEx number is really a full industry CapEx. It's not just WFE. We believe that the industry CapEx is gonna be, you know, essentially flat, maybe modestly up, but essentially flat, right? So I think that's really the basis for that, you know, 4% number. And we will update you. Okay, yeah, I guess- You know, go ahead. Yeah, no, I guess I was just gonna say, just to put like a fine point on it, whatever the TAM is, you're saying that you're gonna outgrow the TAM this year. That's right. That's right. That's what we've done. I mean, that's- Okay. The reason why we have established that growth algorithm is we recognize that the industry is notoriously hard to predict. And our goal and our commitment is to outpace the industry by and at that 3-6 points. And this year we said that that range is gonna be 4-5. Okay, perfect. Thank you. Sure. Thank you. Our next question comes from Charles Shi with Needham. Hey, good morning. Hey, Bertrand, Linda, I just want to ask a little bit more on the, on the industry level CapEx expectation for this year. Maybe let me start with the observation of your numbers first, because I did notice, while MS does seem to be off the bottom, if I look at your pro forma numbers for the past five quarters, but MC, AMH, both divisions are, have a little bit more exposure to CapEx side, and that they seems to take a little bit down in Q1. And I also noticed that you did point out fluid handling being one of the weakness areas, which I believe is probably more on the infrastructure side. So, I get it, you are expecting the full industry CapEx to be flat, modestly, but between infrastructure and the end equipment, do you have a little bit different view there between those two? Maybe infrastructure does sound like it may be temporarily under pressure in Q1, but I just wanna get a little bit of sense on the full year basis. What do you see there? Thanks. Hmm. Yes, if, if I look at, at AMH specifically, where you have actually those two components, I mean, we sell fluid handling components that go into the, the new fab construction projects, and then we sell FOUPs that are really more tied to tool ends. So fluid handling has been actually relatively steady, and that's really a function of all of the major new fab construction projects that have been announced and have been, and that, that we've witnessed around the world. The FOUP business, on the other hand, actually, has contracted. I mean, we, we had a very still relatively robust demand for our FOUP early in 2023. I mean, we came into 2023 with a fair amount of backlog for, for our FOUP products. That backlog has dissipated, so the FOUP business has been relatively slow and has not recovered. We expect actually that we have reached bottom in Q1 of this year, and we expect actually to see gradual recovery in that particular product line for the balance of the year. So again, a sharper decline in the product lines that are WFE related and less of a decline for the products that are new fab construction related. And what's the outlook for the full year between infrastructure, CapEx and equipment? What do you see? So right now, we expect a relatively steady infrastructure, you know, related demand, and we expect to see some uptick in WFE-related demand in the back half of the year. Thank you. Our next question comes from Christopher Parkinson with Wolfe Research. Great, thanks. This is Harris Fein on for Chris. So, I mean, we've seen a lot of grants for, for new fabs in the U.S. over the last few weeks. I guess at, at what point during the construction process for those fabs would customers start to come to you for, you know, FOUPs, filtration systems, things of that nature? And then I guess related to that, how are you feeling about Colorado Springs receiving funding? I guess, what could that look like? Mm-hmm. Yeah, so let's talk first about the shape of the opportunity when new fabs are being built. So typically, we start by selling fluid handling solutions. I mean, those solutions are used in the sub-fab chemical loops, so we see those opportunities really early on when new fabs are being built. It's then followed by the large gas purification systems that those advanced fabs will need. I mean, all of those advanced fabs are using much greater volumes of processed gases, requiring more advanced purities. So those systems are really key to achieve that. And then it will be the FOUP fleet, and the fleet is usually delivered at the time the tools are getting into the fabs, right? And then, you know, and then we can start actually seeing demand for filters and chemistries when the fabs are gearing up for their ramp. So that's the way you should think about it, essentially three different waves of opportunities for us. When it comes to our investment in Colorado, we filed our application last year. We've been in constant dialogue, constructive dialogue with the CHIPS program office. We believe that this investment in Colorado is squarely in line with the objectives of the Administration, an objective that is not just to onshore advanced semiconductor manufacturing, but also to make sure that the critical components of the ecosystem will be manufactured here in the U.S. Again, our plans for Rockrimmon, which is the name of the site in Colorado, fits squarely that objective. So that's probably as much as I can tell you. I would just say that obviously, you know, the more incentives we can have, and the sooner we can have access to those incentives, the easier it will be for us to, you know, to accelerate our phase I and potentially phase II investment in Colorado. Got it. That's helpful. And for my follow-up, I know DRAM is not a huge part of your business today. You know, there's some talk around memory customers as they ramp HBM, maybe being a little bit more disciplined than they've been in the past, keeping some capacity offline. But at the same time, you know, die sizes are getting larger, yields are becoming a little bit more of a challenge for them. I guess it would be good to hear your perspective on how you see that dynamic playing out. Yeah, no, it's a great question. So I mean, of course, we will benefit from the increase in wafer starts, driven by increased demand for HBM. But, you know, an HBM chip is essentially a, you know, a DDR5 chips. I mean, the core memory cell is the same. And what it means is that, you know, we don't have an additional wafer content opportunity with an HBM chip. We think that this is gonna change, because we know that all industry participants are now really very focused on improving the performance of the core memory cell. And to do that, they are turning to EUV, and they're also considering adopting some 3D architectures in the overall DRAM architecture, all of which will open up a number of new opportunities for us in terms of, you know, photoresist filtration, in terms of EUV pods, and then, of course, in terms of advanced materials and etching chemistry. So again, today, we are enjoying the increase in wafer starts, and in a few years from now, we will enjoy the increase in content per wafer in DRAM. Thank you. And we will take our last question from Chris Kapsch with Loop Capital Markets. Yeah, good morning. So my question is a follow-up on the memory market, but focused on NAND. And just, Bertrand, your willingness to share a little bit more color around the role that molybdenum will have in the technology roadmap sounds encouraging. Is it right to assume this confidence and visibility is backed by process of record wins? And more specifically, are those PORs with just, say, one or two leading memory producers of NAND chips, or is it really, you know, more broadly across the industry? And then, as a follow-up to that, are there, you know, instances, given the sort of still soft NAND memory, you know, backdrop, where leading producers are in fact looking to skip the 2XX layer node right to the 3XX layer node, where moly will, you know, more definitively play a role? Thank you. Yeah, Chris. So, look, I mean, first, as I said earlier, I think, you know, transitions of that magnitude don't happen very often in, in this industry. And, you know, tungsten, to put that in context, I mean, tungsten has been the interconnect metal of choice for close to three decades in, in the NAND, DRAM and logic foundry. But as architectures become more complex, and with the desire of all, participants to move to a thin film deposition, you know, you have a number of new materials that present, you know, better thermal and electrical properties, and moly has been on the roadmap for a long time. For all of those, you know, thin film resistivity property and the fact that, you know, it has essentially no diffusivity into the dielectric material, which allows the deposition of that layer without a barrier layer. Which is obviously very important at the time when 3D companies are trying to increase the number of functional layers without increasing the aspect ratio. So all of that is great, but it's, you know, the materials that are used to deposit moly are notoriously difficult to handle and deliver, and that's been really the challenge that the industry has been trying to solve for several years now. We think we're getting really, really close. I mean, working closely with the semiconductor manufacturers, the equipment makers, I think we are, you know, within six to nine months of the first POR decisions. How is that gonna play out? You know, will they at what node precisely will they be adopting moly? Or as I said, in previous calls, it's still something that is being discussed. I think all of that is gonna be a function of the perceived degree of readiness by the ecosystem, and the ecosystem is really a combination of the equipment makers and the material suppliers. But we think that Entegris has a very, very unique set of capabilities to ease this migration to molybdenum, and this is certainly a very exciting time for the industry and very exciting time for Entegris. That's helpful. Just as a follow-up, given just how enabling this chemistry it sounds like it will be, you highlight a couple things, the thermal management, elimination of barrier layers, those process steps. It sounds like, you know, it's very differentiated and a margin opportunity that will help Material Solutions. Is it - is there any way you can quantify what the potential margin opportunity is in terms of percentages? Or is it just something that should be left in for that? No, I mean, I think we, I mean, we don't really disclose specific gross margin information by product. And, I mean, frankly, that it would be very difficult for us to do that at the current stage of adoption of that product. So we will, you know, we'll pass on that question, Chris. Fair, fair enough. Thank you. Thank you. Thank you. It appears that we have no further questions at this time. I will now turn the program back over to Bill Seymour for any additional or closing remarks. Thank you for joining our call today. Please reach out to me directly if you have any further questions or you wanna set up a call. Have a great day, and you can now disconnect. Thank you. This concludes today's Entegris first quarter 2024 earnings conference call. Please disconnect your line at this time and have a wonderful day.