IPG Photonics reports Q4 adjusted EPS $1.08, consensus 89c

Reports Q4 revenue $333.5M, consensus $316.08M. "Our strategy to diversify revenue and capitalize on macro trends, such as e-mobility, helped to drive revenue this year with a record demand for our products in EVs and medical applications. We reached a significant milestone as revenue from welding applications surpassed high power cutting, powered by greater laser penetration into battery manufacturing, industrial welding and handheld welding applications," said Dr. Eugene Scherbakov, IPG Photonics’ Chief Executive Officer. "During a year affected by lingering pandemic impacts, geopolitical conflict, inflation and a strong U.S. dollar, we successfully navigated through supply chain challenges, met customer delivery requirements, significantly reduced our reliance on Russian operations and positioned IPG for future growth and success. In light of the impact of sanctions on our Russian operations, we initiated a review and incurred various charges that significantly impacted reported operating results in the fourth quarter."