IPG Photonics' Q3 Swings to Loss, Revenue Declines; Q4 Outlook Issued

MT Newswires Live10-29

IPG Photonics (IPGP) reported a Q3 loss Tuesday of $5.33 per diluted share, swinging from earnings of $1.16 a year earlier.

Analysts polled by Capital IQ expected earnings of $0.18.

Net sales for the quarter ended Sept. 30 were $233.1 million, down from $301.4 million a year earlier.

Analysts surveyed by Capital IQ expected $227.8 million.

For Q4, the company expects earnings of $0.05 to $0.35 per diluted share on revenue of $210 million to $240 million, noting the guidance 'excludes Russian operations which were sold in the third quarter.' Analysts polled by Capital IQ expect earnings of $0.19 per share on revenue of $226.0 million.

Shares of the company were up nearly 7% in recent Tuesday premarket activity.

Price: 83.03, Change: +3.76, Percent Change: +4.74

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