Ultra Clean announces retirement of services division president

HAYWARD, Calif. - Ultra Clean Holdings Inc. (NASDAQ:UCTT), a semiconductor industry supplier with annual revenues exceeding $2.1 billion, announced Monday that Bill Bentinck, President of the company’s Service Division, will retire effective August 15, 2025, concluding a 40-year career in the semiconductor industry.

Bentinck has served in a leadership role at Ultra Clean for over six years. The company has appointed Sam Johnson to succeed Bentinck as SVP and General Manager of the Service Division.

"Bill has been a steady, visionary force, guiding our Service Division through some of its most transformative chapters," said Clarence Granger, Chairman of the Board, in a press release statement.

Johnson, who holds degrees from Cornell University and Harvard Business School, will work with Bentinck over the coming months to ensure a smooth transition. According to the company, Johnson brings experience in managing industrial operating companies and has a background in executing organizational transformation initiatives.

Ultra Clean Holdings develops and supplies critical subsystems, components, and cleaning services primarily for the semiconductor industry. The company operates through two divisions: Products, which manufactures subassemblies and components, and Services, which provides tool chamber parts cleaning and coating services.

The company is headquartered in Hayward, California, and trades on the Nasdaq exchange.

In other recent news, Ultra Clean Holdings Inc. reported financial results for the first quarter of 2025, revealing a miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.28, falling short of the projected $0.31, while revenue also came in below expectations at $518.6 million compared to the anticipated $561.33 million. These results have prompted Needham analysts to revise Ultra Clean’s stock price target downward from $40 to $26, though they maintain a Buy rating, indicating confidence in the company’s long-term potential. The earnings miss is attributed to technical difficulties faced by key customers in Europe and China, as well as ongoing geopolitical uncertainties affecting the semiconductor sector.

Ultra Clean Holdings is taking steps to address these challenges by implementing cost reduction measures and optimizing its supply chain. The company has set revenue guidance for the second quarter of 2025 between $475 million and $525 million, with an EPS range of $0.17 to $0.37. Management expects a slight revenue increase in the second quarter and further improvements in the latter half of the year, although they remain cautious due to market uncertainties. Additionally, Ultra Clean is focusing on streamlining its global operations to enhance efficiency and align with a $4 billion revenue run rate.

The ongoing global tariff situation continues to pose a risk, but Ultra Clean is working to pass more than half of the component tariff costs on to its customers. Despite these challenges, the company has made strides in product innovation, notably tripling its portfolio in lithography and expanding its engagement in the subfab space. Ultra Clean’s management remains optimistic about the company’s strategic initiatives and their potential to gain momentum as market conditions improve.

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