{"schema_version":"secwatch.filing_event.v1","accession":"0001111928-24-000061","form_type":"8-K","ticker":"IPGP","cik":"0001111928","company_name":"IPG PHOTONICS CORP","filed_at":"2024-04-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:17.334413+00:00","generated_at":"2026-06-03T04:01:24.786448+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"leadership","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"IPG Photonics Q1 revenue down 27% to $252M, appoints Mark Gitin as CEO","bullets":["Q1 revenue $252M (-27% YoY); diluted EPS $0.52 (-59% YoY); gross margin 38.7% (-360 bps).","Q2 guidance: revenue $240M-$270M, EPS $0.30-$0.60; book-to-book >1 for first time since Q1 2023.","Mark Gitin (MKS Instruments exec) named CEO and Board member effective June 5, replacing Eugene Scherbakov.","Scherbakov stays on Board as advisor; Board grows to 11 members after orderly succession process."],"urls":{"canonical":"https://secwatch.observer/filing/0001111928-24-000061","json":"https://secwatch.observer/filing/0001111928-24-000061.json","markdown":"https://secwatch.observer/filing/0001111928-24-000061.md","text":"https://secwatch.observer/filing/0001111928-24-000061.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1111928/000111192824000061/0001111928-24-000061-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1111928/000111192824000061/ipgp-20240430.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T04:01:24.786448+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4145ff0633c355881909572d3951d9819affe53a","claim":"IPG PHOTONICS CORP reported the first quarter ended March 31, 2024 results: revenue $252.0, net income $24.1, EPS $0.52. Guidance reaffirmed.","evidence_excerpt":"financial results for the first quarter ended March 31, 2024. Three Months Ended March 31, (In millions, except per share data and percentages) 2024 2023 Change Revenue $ 252.0 $ 347.2 (27) % Gross margin 38.7 % 42.3 % Operating income $ 19.1 $ 75.4 (75) % Operating margin 7.6 % 21.7 % Net income attributable to IPG Photonics Corporation $ 24.1 $ 60.1","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1111928/000111192824000061/0001111928-24-000061-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the first quarter ended March 31, 2024"},{"label":"Revenue","value":"$252.0"},{"label":"Net income","value":"$24.1"},{"label":"EPS","value":"$0.52"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}