IPG Photonics Corp reports results for the quarter ended in March - Earnings Summary

IPG Photonics

30/04/2024 15:13

* IPG Photonics Corp  IPGP.OQ  reported quarterly adjusted
earnings of 52 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $1.26.  The mean expectation of eight analysts for the
quarter was for earnings of 49 cents per share. Wall Street
expected results to range from 44 cents to 56 cents per share.
    * Revenue fell 27.4% to $252.01 million from a year ago;
analysts
expected $254.17 million. 
    * IPG Photonics Corp's reported EPS for the quarter was 52
cents​.
    * The company reported quarterly net income of $24.1
million.
    * IPG Photonics Corp shares had fallen by 2.3% this
quarter and
lost 18.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 51.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 3
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the electronic
equipment & parts peer group is also "hold"

Wall Street's median 12-month price target for IPG Photonics
Corp is $112.00 
This summary was machine generated from LSEG data April 30 at
02:12 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.49           0.52           Beat
 Dec. 31 2023      0.95           0.89           Missed
 Sep. 30 2023      1.01           1.16           Beat
 Jun. 30 2023      1.24           1.31           Beat