IPG Photonics reports Q3 loss of $5.33/share, guides Q4 EPS $0.05-$0.35, acquires cleanLASER

IPG PHOTONICS CORP

2024-Q3 EPS reported -$4.22 revenue$742,797,000

Q3 revenue $233.1M (-23% YoY); GAAP diluted EPS loss $5.33; adjusted EPS $0.29.
Gross margin 23.2% (adjusted 36%) due to $30M inventory provision; includes $198M loss on Russia divestiture and $27M impairment.
Q4 guidance: revenue $210-240M, gross margin 35-38%, EPS $0.05-$0.35.
Acquired Clean-Lasersysteme GmbH (cleanLASER), ~$30M annual revenue, ~2,000 installed systems; close expected Q4 2024.
Book-to-bill of 1; management says demand appears to be bottoming.

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