IPG Photonics Q1 2022 Earnings Report
Key Takeaways
IPG Photonics reported a solid first quarter with revenue growth driven by increased demand across various applications in Europe, North America, and Japan. The company's diversification strategy, particularly in electric vehicle production, handheld welding, and medical products, contributed to the results. China's share of revenue decreased to 35% this quarter.
First quarter revenue increased 7% year over year to $370 million.
Earnings per diluted share (EPS) increased by 4% year over year to $1.31.
Sales increased 27% in Europe, 5% in North America, and 18% in Japan, and decreased 7% in China on a year-over-year basis.
Materials processing sales accounted for 92% of total revenue and increased 7% year over year.
IPG Photonics
IPG Photonics
IPG Photonics Revenue by Segment
Forward Guidance
For the second quarter of 2022, IPG expects revenue of $355 to $385 million and earnings per diluted share in the range of $0.95 to $1.25. The Company expects the second quarter tax rate to be approximately 26%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income