IPGP - IPG Photonics reports mixed Q1 results; initiates Q2 outlook
2024-04-30 08:06:57 ET
- IPG Photonics press release ( NASDAQ: IPGP ): Q1 GAAP EPS of $0.52 beats by $0.04 .
- Revenue of $252M (-27.4% Y/Y) misses by $1.71M .
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Business Outlook and Financial Guidance
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"Despite a challenging first quarter, our book-to-bill was slightly above one for the first time since the first quarter last year, which may indicate that industrial demand is stabilizing and could start to improve modestly later in the year," concluded Dr. Scherbakov.
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For the second quarter of 2024, IPG expects revenue of $240 million to $270 million vs. $273.04M consensus. The company expects the second quarter tax rate to be approximately 25%, including certain discrete items. IPG anticipates delivering earnings per diluted share in the range of $0.30 to $0.60 vs. $0.79 consensus.