PRLB - Proto Labs beats shares +9%
Proto Labs (NYSE:PRLB) reported before the open, posting EPS of 43c versus street consensus of 28c. Revenues also topped estimates, as the digital manufacturer was able to side-step supply chain issues and grow top line 18% yoy. The CNC machining segment led top-line growth year on year, up 40% in Q4, followed closely by the 3D printing segment, which saw revenues rise 17% yoy. Gross margins expanded to 45% and cash flow before impacts of working capital was enough to cover capex and repurchase ~2% of shares outstanding during 2021. Looking ahead into 2022, management sees gross margins expanding further, though no specific guidance was provided on the call. Omicron did impact orders in December of 2021, but management is already seeing a rebound in business and feels confident they can growth top line by double-digits in 2022.
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Proto Labs beats, shares +9%