IPG Photonics Guides Q2 In Line With Estimates - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Tuesday, IPG Photonics Corp. (IPGP) provided earnings and revenues guidance for the second quarter, in line with analysts' estimates.

For the second quarter, IPG expects earnings in a range of $0.40 to $0.70 per share on revenues between $260 million and $290 million.

On average, 10 analysts polled by Thomson Reuters expect the company to report earnings of $0.59 per share on revenues of $281.51 million for the quarter. Analysts' estimates typically exclude special items.

IPG also announced that its Board of Directors has authorized the purchase of up to $200 million of IPG common stock. This new authorization is additive to the Company's existing stock repurchase program authorized in February 2019, under which approximately $60 million remains available for repurchase, increasing the total repurchase program to $260 million.