8-K
filed August 3, 2023, 7:59 PM ET
ticker CGNX
CIK 0000851205
earnings
confidence high
sentiment negative
materiality 0.75
Cognex Q2 revenue down 12% to $242.5M; Q3 guidance below Q2 at $180-200M
COGNEX CORP
2023-Q2 EPS reported
$0.48
revenue$443,636,000
- Revenue $242.5M, -12% YoY; net income $57.5M ($0.33 EPS) vs $58.9M ($0.34) in Q2-22.
- Non-GAAP EPS $0.32, down 22% from $0.41 in prior year.
- Q3-23 revenue guidance $180-200M, gross margin expected low-70% range; CFO cites further softening.
- Board declares $0.07/share quarterly dividend, payable Sept 1, 2023 to holders of record Aug 18.
- Balance sheet: $832M cash, no debt; $57M operating cash flow YTD; $49M stock repurchased.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
COGNEX CORP reported Q2-23 results: revenue 242,512, net income 57,474, EPS 0.33.
- Period
- Q2-23
- Revenue
- 242,512
- Net income
- 57,474
- EPS
- 0.33
- Result
- reported results
Exact text from the filing
in thousands, except per share amounts) Revenue Net Income Net Income per Diluted Share Non-GAAP Net Income per Diluted Share* Quarterly Comparisons Current quarter: Q2-23 $242,512 $57,474 $0.33 $0.32 Prior year’s quarter: Q2-22 $274,628 $58,901 $0.34 $0.41 Change: Q2-23 to Q2-22 (12)% (2)% (3)% (22)% Year-to-Date Comparisons Six months ended July 2, 2023
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
COGNEX CORP reported Q3-23 results: revenue 180,000,000 - 200,000,000. Guidance lowered.
- Period
- Q3-23
- Revenue
- 180,000,000 - 200,000,000
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
Cognex expects Q3-23 revenue to be between $180 million and $200 million. This range represents a decrease on a sequential basis primarily driven by further softening of manufacturing investment.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
COGNEX CORP: Amended Amended and Restated By-Laws to address Rule 14a-19, proxy card color, informational/procedural requirements for shareholder proposals and nominations, special meeting request rules, board powers, exclusive forum provisions, and other ministerial updates (effective 2023-08-02).
- Change
- bylaw amendment
- Effective
- 2023-08-02
Exact text from the filing
On August 2, 2023, in connection with certain recent changes to Securities and Exchange Commission rules and a periodic review of corporate governance matters, the Board of Directors (the “Board”) of the “Company approved amendments to the Company’s Amended and Restated By-Laws (as amended, the “A&R By-Laws”), effective immediately.
View on SEC.gov
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