IPG Photonics Q1 rev $347M, EPS $1.26; Q2 guidance $325-355M; new $200M buyback

IPG PHOTONICS CORP

2023-Q1 EPS reported $1.26 revenue$347,174,000

Revenue $347.2M (-6% YoY), gross margin 42.3%, operating income $75.4M (-19%).
EPS $1.26 diluted (-4% YoY); net income $60.1M.
Welding sales strong with record e-mobility and LightWELD; cutting/marking soft.
Q2 2023 guidance: revenue $325-355M, EPS $1.05-$1.35.
Board authorized $200M stock buyback; completed prior $300M program.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IPG PHOTONICS CORP reported first quarter ended March 31, 2023 results: revenue $347.2, net income $60.1, EPS $1.26. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $347.2
Net income: $60.1
EPS: $1.26
Guidance: reaffirmed
Result: reported results

Exact text from the filing

financial results for the first quarter ended March 31, 2023. Three Months Ended March 31, (In millions, except per share data and percentages) 2023 2022 Change Revenue $ 347.2 $ 370.0 (6) % Gross margin 42.3 % 46.4 % Operating income $ 75.4 $ 93.1 (19) % Operating margin 21.7 % 25.2 % Net income attributable to IPG Photonics Corporation $ 60.1 $ 69.6

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Source: SEC EDGAR

accession 0001111928-23-000084

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