IPG Photonics Q3 revenue $301M (-14% YoY); EPS $1.16; Q4 guidance weak

IPG PHOTONICS CORP

2023-Q3 EPS reported $3.73 revenue$988,546,000

Revenue $301.4M, down 14% YoY; materials processing sales fell 15% on weak China demand.
EPS $1.16, down 21% YoY; gross margin improved to 44.1% from 43.1%.
Q4 guidance: revenue $270-$300M, EPS $0.80-$1.10; book-to-bill below one.
Board reduced from 11 to 10 members after death of director Felix Stukalin.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

IPG PHOTONICS CORP reported the third quarter ended September 30, 2023 results: revenue $301.4, net income $55.0, EPS $1.16.

Period: the third quarter ended September 30, 2023
Revenue: $301.4
Net income: $55.0
EPS: $1.16
Result: reported results

Exact text from the filing

30, 2023. Three Months Ended September 30, Nine Months Ended September 30, (In millions, except per share data and percentages) 2023 2022 Change 2023 2022 Change Revenue $ 301.4 $ 349.0 (14) % $ 988.5 $ 1,096.0 (10) % Gross margin 44.1 % 43.1 % 43.2 % 45.1 % Operating income $ 55.7 $ 93.2 (40) % $ 203.2 $ 258.0 (21) % Operating margin 18.5 % 26.7 % 20.6 %

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Source: SEC EDGAR

accession 0001111928-23-000168

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