- Cognex press release ( NASDAQ: CGNX ): Q2 Non-GAAP EPS of $0.41 misses by $0.01 .
- Revenue of $274.63M (+2.0% Y/Y) misses by $3.5M .
- Shares -10% .
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Financial Outlook – Q3 2022
- Cognex expects revenue for Q3-22 will be between $160 million and $180 million vs. $293.58M consensus. This range represents a decline both year-on-year and sequentially due to the estimated impact of the supply disruption caused by the June fire at the company’s primary contract manufacturing site and lower expected revenue from e-commerce logistics.
- Gross margin for Q3-22 is expected to be about 70%, which is below the company’s mid-70% long-term target due to pressure from the lower expected revenue level and higher inventory purchase prices, including broker premiums, as the company works to replenish inventory destroyed by the fire.
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Cognex Non-GAAP EPS of $0.41 misses by $0.01, revenue of $274.63M misses by $3.5M