CGNX - Cognex (CGNX) Q1 2024 Earnings Call Transcript
2024-05-02 12:09:10 ET
Cognex Corporation (CGNX)
Q1 2024 Earnings Conference Call
May 2, 2024 8:30 am ET
Company Participants
Robert Willett - President, Chief Executive Officer
Nathan McCurren - Head of Investor Relations
Conference Call Participants
Damian Karas - UBS
Rob Mason - Robert W. Baird
Michael - Cowen
Jacob Levinson - Melius Research
Tommy Moll - Stephens Inc.
Andrew Buscaglia - BNP Paribas
Piyush Avasthy - Citi
Jairam Nathan - Daiwa Capital Markets
Presentation
Operator
Greetings. Welcome to the Cognex first quarter 2024 earnings conference call.
At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require Operator assistance during the conference, please press star, zero on your telephone keypad.
I will now turn the conference over to your host, Nathan McCurren, Head of Investor Relations. You may begin.
Nathan McCurren
Thank you Schmali. Good morning everyone, thank you for joining us.
Our results were released earlier today. The press release, earnings presentation, and quarterly report on Form 10-Q are available on the Investor Relations section of our website.
Both the press release and our call today will reference non-GAAP measures. You can find a reconciliation of certain items from GAAP to non-GAAP in our press release. Any forward-looking statements we made in the press release, the accompanying presentation posted to our website, or any that we may make during this call are based upon information that we believe to be true as of today. Our actual results may differ materially from our projections due to the risks and uncertainties that are described in our SEC filings, including our most recent Form 10-K and our Form 10-Q filed this morning for Q1 2024.
On today’s call, Rob Willett, Cognex’s President and CEO will discuss our first quarter results. I will then provide additional detail on the financials, and Rob will conclude with an update on our strategic initiatives and our outlook. Laura McDonald, our Corporate Controller and interim Principal Financial Officer, has also joined us in the room for the Q&A portion of the call.
With that, I’ll turn the call over to Rob.
Robert Willett
Thanks Nathan. Hello everyone and thank you for joining us.
Our first quarter results reflect a challenging but stable business environment. Revenue was above the high end of our guidance range as we saw order volumes slightly higher than we had expected. Revenue excluding the contribution of Moritex increased sequentially from the fourth quarter but remained down year-on-year across most of our factory automation end markets....
Cognex (CGNX) Q1 2024 Earnings Call Transcript