IPG Photonics (IPGP) Q3 Earnings & Revenues Lag Estimates
Zacks Investment Research | Oct 28, 2019 10:41PM ET
IPG Photonics Corporation (NASDAQ:IPGP) reported third-quarter 2019 earnings of $1.07 per share, which lagged the Zacks Consensus Estimate by 9.2%. Further, the reported figure declined 42% from the year-ago quarter.
Revenues of $329.14 million fell 8% on a year-over-year basis, and missed the consensus mark of 337.45 million.
Unfavorable foreign-exchange movement limited earnings by 1 cent and revenues by $5 million.
Uncertainty in macroeconomic environment and geopolitical factors reduced demand for high-power CW lasers across China and Europe, which impacted the third-quarter top line. However, Genesis acquisition contributed $20 million in total revenues in the reported quarter.
Revenues by Application
Materials processing (93% of total revenues) declined 8.4% year over year to $306.3 million, thanks to weakness in 3D printing and metal cutting applications.
Further, revenues from other markets (7%) improved 4.7% year over year to $22.9 million.
Revenues by Geography
Sales in United States and other North America (representing 21.6% of total sales) improved 32.1% year over year to $71.0 million.
However, sales in Eastern Europe/CIS (18.9%) declined 6.3% from the year-ago quarter to $62.2 million. Moreover, sales in Germany (5.2%) slumped 20.8% from the year-ago quarter to $17.2 million.
Revenues from China (36.9%) fell 23.6% to $121.3 million. Sales in Japan (6.6%) remained almost flat at $21.9 million year over year.
Sales in other Asia and Australia, and rest of the world (approximately 10.8%) collectively improved 5.4% year over year to $35.6 million.
IPG Photonics Corporation Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.