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Dec 31, 2022
IPG Photonics Q4 2022 Earnings Report
Financial results reported a decrease in revenue and a net loss due to inventory related charges, impairment of long-lived assets, and restructuring charges.
Key Takeaways
IPG Photonics reported a decrease in revenue for the fourth quarter of 2022, with a net loss attributable to IPG Photonics Corporation. The company's results were impacted by inventory related charges, impairment of long-lived assets, and restructuring charges. However, there was a record demand for EV and medical applications.
Revenue decreased by 8% year over year to $333.5 million, including a $25 million impact from foreign currency translation.
Loss per diluted share was $1.91, while adjusted diluted EPS was $1.08.
Materials processing sales accounted for 89% of total revenue, decreasing by 6% year over year.
Sales decreased in North America, Europe, and China, but increased in Japan.
Revenue by Segment
Forward Guidance
For the first quarter of 2023, IPG expects revenue of $310 million to $340 million and earnings per diluted share in the range of $0.90 to $1.20. The first quarter guidance range is reduced by approximately $9 million due to foreign currency headwinds.
Positive Outlook
- Revenue of $310 million to $340 million is expected.
- Earnings per diluted share in the range of $0.90 to $1.20 is anticipated.
- Strong bookings in e-mobility and welding applications give reason to be optimistic.
- Focusing on emerging products.
- Building production capabilities
Challenges Ahead
- First quarter guidance range is reduced by approximately $9 million due to foreign currency headwinds.
- Macroeconomic challenges are expected to persist into 2023.
- Trade policy changes and trade restrictions with Russia.
- COVID-19 pandemic.
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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