Ipg Photonics Corp Up 1.82% To $85.23 After Earnings Beat

IPG Photonics Corporation (IPGP) reported better than expected earnings this morning for Q3 2023.

Analyst expectations for Ipg Photonics Corp earnings per share (EPS) were at $1.02, with the company surpassing those estimates with a reported EPS of $1.16, leading to a positive surprise of $0.14 per share (14%). Ipg Photonics Corp's earnings were down 21% year-over-year as the firm reported an EPS of $1.47 in its year-ago quarter. The negative annual growth shows the Technology company isn't performing well amid current economic conditions.

Analyst projections for Ipg Photonics Corp revenue came in at a consensus of $315.5 million. Third-Quarter revenues missed estimates for $301.4 million by $14.1 million (4%). The company achieved negative 14% growth year-over-year compared to the firm's revenue of $349 million from the year-ago quarter. The lower earnings growth relative to revenue signals Ipg Photonics Corp has not been able to improve its profit margin.

The stock is up 1.82% to $85.23 after the report.

Ipg Photonics Corp's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Ipg Photonics Corp has performed a little below average during the past few months. Before the report, Ipg Photonics Corp received a Long-Term Technical Rank by InvestorsObserver of 45, putting it in the bottom half of stocks. The firm set a 52-week high on July 13, 2023 at $141.85 and set a 52-week low on November 1, 2022 at $79.88.

IPG Photonics Corp is a vertically integrated developer and manufacturer of high-performance fiber lasers, fiber amplifiers, and diode lasers, which are used in diverse applications in the manufacturing, automotive, industrial, aerospace, semiconductor, and consumer end markets. A large majority of the firm's revenue is derived from materials processing applications for fiber lasers, including cutting and welding, marking and engraving, and micro-processing. Roughly a third of the firm's revenue is generated in China, with the rest coming from North America, Europe, Japan, Australia, and other countries across the world.