Reports Q4 revenue $298.9M, consensus $286.12M. “Fourth quarter revenue came in at the top of our expectations with higher sales in welding, cleaning, 3D printing and medical applications. We also saw increased demand in e-mobility applications outside of China. This growth was offset by continued soft industrial demand across many major geographies and lower sales in e-mobility applications in China,” said Dr. Eugene Scherbakov, IPG Photonics’ Chief Executive Officer. “In 2023, we focused on diversifying and growing our revenue outside of flat sheet cutting and away from China. Many of the emerging growth products delivered strong results and displaced other laser and non-laser technologies. IPG continued to generate strong cash flow from operations and returned capital to our stockholders.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on IPGP:
- IPGP Earnings this Week: How Will it Perform?
- IPG Presents New Technologies, Products and Solutions for E-mobility Manufacturing, Materials Processing and Specialized Applications at Photonics West 2024
- Tesla, Boeing downgraded: Wall Street’s top analyst calls
- IPG Photonics initiated with a Buy at Seaport Research
- IPG Photonics price target raised to $130 from $120 at Stifel