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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.
IPG Photonics
IPG Photonics
IPG Photonics Revenue by Segment
Revenue by Segment
Materials Processing Revenue
CapyFin.comOther Applications Revenue
CapyFin.com 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.
- General economic conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income