Proto Labs touches 7-month high after upbeat forecast

Proto Labs

01/11/2024 14:52

** Shares of digital manufacturing services provider Proto
Labs  PRLB.N  jump 36% to $35.94, touches seven-month high,
after upbeat outlook 
    ** PRLB sees Q4 rev between $115 mln and $123 mln above avg.
est. of 120.01 mln - LSEG   
    ** Co reports Q3 EPS of 47 cents and rev of $125.6 mln vs.
analysts est. of EPS of 32 cents and rev of 121.4 mln 
    ** "We remain committed to accelerating our growth, as
highlighted by the actions we initiated at the end of the second
quarter to reorganize our internal structure and better position
the company for growth and value-creation over the long-term"-
CEO Rob Bodor 
    ** PRLB announced the closure of two of its manufacturing
facilities in Germany in late October 
    ** Including session's move, stock down ~8% YTD

 (Reporting by Ragini Mathur)
 ((Ragini.Mathur@thomsonreuters.com;))