logo
  

IPG Photonics Q3 Results Top Estimates; Guides Q4 Revenues Below Estimates - Quick Facts

IPG Photonics Corp. (IPGP) reported Tuesday that net income attributable to IPG for the third quarter more than doubled to $75.4 million or $1.40 per share from $35.6 million or $0.66 per share in the prior-year quarter.

Revenues for the quarter increased 19 percent to $379.2 million from $318.4 million in the same quarter last year, driven by improved demand in Europe and the U.S. as well as growth in emerging products and applications.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.27 per share on revenues of $368.26 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, the company expects earnings in a range of $1.00 to $1.30 per share on revenues between $330 million and $360 million. The Street is looking for earnings of $1.30 per share on revenues of $366.47 million for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
American Honda Motor Co, Inc. has recalled about 2,900 units of 2022 model year Honda TRX90X All-Terrain Vehicles (ATVs) sold in the United States for possible crash and injury hazard, according to a statement issued by the U.S. Consumer Product Safety Commission or CPSC. The Laundress, a unit of Conopco Inc. d/b/a Unilever, is recalling around 8 million laundry and household cleaning products citing risk of exposure to bacteria, U.S. Consumer Product Safety Commission. The recall involves Laundress laundry detergent, fabric conditioner and other cleaning products. Tesla Inc. has delivered its first Semi, a heavy-duty electric truck, to its customer PepsiCo Inc. during an event at its Nevada Gigafactory. The delivery of 500-mile fully electric Semi truck comes five years after the launch of the truck's prototype in 2017. During Thursday night's Semi Delivery Event at Tesla's Sparks, Nevada factory, CEO Elon Musk, with Dan Priestly, ...
RELATED NEWS
Follow RTT