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Jun 30, 2024
IPG Photonics Q2 2024 Earnings Report
IPG's second quarter results reflected a challenging demand environment, particularly across industrial and e-mobility markets.
Key Takeaways
IPG Photonics reported a decrease in revenue by 24% year-over-year to $258 million due to a challenging demand environment. The company focused on financial execution, generating $53 million in cash from operations and reducing inventory. While materials processing sales decreased, other sales increased due to higher revenue in medical and advanced applications.
Second quarter revenue decreased 24% year over year to $258 million.
Gross margin decreased to 37.3% due to reduced absorption of manufacturing expenses and increased inventory reserves.
Earnings per diluted share decreased 66% year over year to $0.45.
The company generated $53 million in cash from operations and spent $24 million on capital expenditures and $122 million on share repurchases.
Revenue by Segment
Forward Guidance
For the third quarter of 2024, IPG expects revenue of $210 million to $240 million, gross margin between 34% and 37%, and operating expenses of $82 million to $84 million. The Company expects the third quarter tax rate to be approximately 25%, including certain discrete items. IPG anticipates delivering earnings per diluted share in the range of $0.00 to $0.30.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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