IPG Photonics Sees Q4 Earnings, Revenues Below Market - Update

(RTTNews) - IPG Photonics Corp. (IPGP) on Tuesday issued earnings and revenue forecast for its fourth quarter below market estimates.

For the fourth quarter of 2023, IPG expects earnings per share in the range of $0.80 to $1.10 and revenue of $270 million to $300 million.

On average, six analysts polled by Thomson Reuters expect earnings of $1.11 per share for the quarter on revenues of $322.67 million. Analysts' estimates typically exclude special items.

In its third quarter, IPG Photonics reported a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $54.99 million, or $1.16 per share. This compares with $76.26 million, or $1.47 per share, in last year's third quarter.

Analysts had expected the company to earn $1.02 per share.

The company's revenue for the quarter fell 13.6 percent to $301.40 million from $349.01 million last year.

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