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3D Systems Q1 adjusted EBITDA turns positive on higher sales volumes

Overview

U.S. 3D printing firm's Q1 revenue grew 1% yr/yr, beating analyst expectations

Adjusted EBITDA for Q1 turned positive and beat analyst expectations

Company's results driven by strong growth in Healthcare, Dental, Med Tech, and Aerospace & Defense

Outlook

3D Systems sees Q2 revenue between $93 mln and $95 mln

Company expects Q2 Adjusted EBITDA between ($4) mln and ($2) mln

Company aims for full-year break-even Adjusted EBITDA

Result Drivers

HEALTHCARE AND DENTAL GROWTH - Co said Healthcare revenue rose 21% yr/yr, with Dental and Med Tech each up over 20%, driving overall growth

AEROSPACE & DEFENSE DEMAND - Double-digit growth in Aerospace & Defense contributed to revenue gains, per CEO Graves

COST MANAGEMENT - Improved profitability and positive adjusted EBITDA attributed to higher sales volumes, favorable revenue mix, and cost reduction actions

Company press release: ID:nGNX1vVvwc

Key Details

MetricBeat/MissActualConsensus Estimate
Q1 RevenueBeat$95.50 mln$92.39 mln (4 Analysts)
Q1 Adjusted EPS-$0.01
Q1 EPS-$0.03
Q1 Net Income-$4.40 mln
Q1 Adjusted EBITDABeat$2.10 mln-$4.36 mln (3 Analysts)
Q1 Gross Margin35.90%
Q1 Adjusted Gross Margin36.10%
Q1 Operating Income-$6.60 mln
Analyst Coverage The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell" The average consensus recommendation for the electronic equipment & parts peer group is "buy." Wall Street's median 12-month price target for 3D Systems Corp is $3.75, about 49.4% above its May 11 closing price of $2.51 For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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