IPG Photonics Q4 revenue $299M (-10% YoY); EPS $0.89 vs loss $1.91

IPG PHOTONICS CORP

2023-FY EPS reported $4.63 revenue$1,287,439,000

Revenue $298.9M, down 10% YoY; gross margin improved to 38.2% from 18.2%.
Net income $41.4M vs net loss $92.9M in prior year; diluted EPS $0.89 (adjusted EPS $1.08 prior year).
Materials processing sales down 12%; growth in welding, cleaning, 3D printing, medical offset by cutting decline.
Sales in China down 25%, Europe up 1%, North America down 3%; high-power CW laser revenue down 19%.
Generated $106M cash from operations; spent $64M on share repurchases in Q4.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IPG PHOTONICS CORP reported the fourth quarter ended December 31, 2023 results: revenue $298.9, net income $41.4, EPS $0.89.

Period: the fourth quarter ended December 31, 2023
Revenue: $298.9
Net income: $41.4
EPS: $0.89
Result: reported results

Exact text from the filing

31, 2023. Three Months Ended December 31, Twelve Months Ended December 31, (In millions, except per share data and percentages) 2023 2022 Change 2023 2022 Change Revenue $ 298.9 $ 333.5 (10) % $ 1,287.4 $ 1,429.5 (10) % Gross margin 38.2 % 18.2 % 42.1 % 38.9 % Operating income (loss) $ 28.8 $ (88.5) NM $ 232.0 $ 169.5 37 % Operating margin 9.6 % (26.5) %

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Source: SEC EDGAR

accession 0001111928-24-000009

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