IPG Photonics Q2: revenue $377M (+1%), EPS $1.10 (-15%); new $300M buyback

IPG PHOTONICS CORP

2022-Q2 EPS reported $2.41 revenue$747,002,000

Q2 revenue $377M (+1% YoY); EPS $1.10 (-15% YoY); operating income $71.7M (-22%).
Foreign exchange headwinds cut revenue by ~$18M and EPS by $0.28.
Materials processing sales 91% of total; welding/cleaning up, cutting/solar down.
North America +33%, Japan +43%, China -14% YoY; high-power CW lasers -14%.
Board authorized new $300M stock repurchase; $312M repurchased in H1 2022.

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