Cognex Q2 revenue $239M, down 1% YoY; operating income drops 41% to $38M

COGNEX CORP

2024-Q2 EPS reported $0.28 revenue$450,089,000

Revenue $239M, down 1% YoY; adjusted EPS $0.23 vs $0.33 prior year.
Operating income $38M, down 41% YoY; adjusted EBITDA margin 19.9% vs 28.1%.
Q3 revenue guidance $225-240M; adjusted gross margin slightly below 70%.
Board declares $0.075/share dividend, payable Aug 29, 2024 (record Aug 15).
Cash and investments $555M, no debt; spent $11M on share repurchases in Q2.

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