IPGP - IPG Photonics GAAP EPS of $1.26 beats by $0.24 revenue of $347.2M beats by $16.6M
2023-05-02 08:01:58 ET
- IPG Photonics press release ( NASDAQ: IPGP ): Q1 GAAP EPS of $1.26 beats by $0.24 .
- Revenue of $347.2M (-6.2% Y/Y) beats by $16.6M .
- The strong U.S. dollar reduced revenue by approximately $15 million or 4% and divestitures reduced revenue by approximately 1% compared to the same period last year. Materials processing sales accounted for 90% of total revenue and decreased 8% year over year with higher sales in welding, cleaning and solar cell applications offset by lower revenue in cutting and marking applications.
- For the second quarter of 2023, IPG expects revenue of $325 million to $355 million. The Company expects the second quarter tax rate to be approximately 26%. IPG anticipates delivering earnings per diluted share in the range of $1.05 to $1.35.
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IPG Photonics GAAP EPS of $1.26 beats by $0.24, revenue of $347.2M beats by $16.6M