IPG Photonics Q4 Results Top Estimates; Stock Down 9% On Weak Outlook - Quick Facts

IPG Photonics Corp. (IPGP) reported Tuesday that net income attributable to IPG for the fourth quarter increased 32 percent to $65.09 million or $1.21 per share from $49.34 million or $0.92 per share in the prior-year quarter.

Net sales for the quarter increased 8 percent to $364.47 million from $336.63 million in the same quarter last year, driven by strong demand in Europe, North America and Japan.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.19 per share on revenues of $353.41 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the first quarter, the company expects earnings in a range of $0.85 to $1.15 per share on revenues between $320 million and $350 million. The Street is looking for earnings of $1.28 per share on revenues of $368.26 million for the quarter.

The company also expects total revenue growth rate of 3 to 6 percent in 2022, while analysts' are looking for revenue growth of 9.8 percent to $1.58 billion for the year.

The Board of Directors has also authorized the purchase of up to $200 million of IPG common stock. This new authorization is in addition to the Company's existing stock repurchase program authorized in May 2020, which has approximately $80 million left available for repurchase.

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