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Dec 31, 2023
IPG Photonics Q4 2023 Earnings Report
IPG Photonics' financial performance reflected a mix of growth in specific applications and soft industrial demand across major geographies.
Key Takeaways
IPG Photonics reported a 10% decrease in revenue year-over-year for Q4 2023, with revenue reaching $298.9 million. Despite the overall decline, the company saw growth in welding, cleaning, 3D printing, and medical applications. The EPS was $0.89, up from a loss in the previous year.
Fourth quarter revenue decreased 10% year over year to $299 million.
Materials processing sales decreased 12% year over year, accounting for 87% of total sales.
Sales in other applications increased 4% year over year.
Emerging growth products accounted for 46% of total sales.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the first quarter of 2024, IPG expects revenue of $235 million to $265 million and earnings per diluted share in the range of $0.30 to $0.60.
Positive Outlook
- Targeting large addressable markets where fiber lasers can replace existing technologies.
- Taking advantage of trends including automation and customer focus on increasing efficiency and reducing environmental impacts.
- Expecting growth in emerging products to continue.
- Further diversifying our revenue.
- Focused on operational improvements, such as lowering product costs, managing expenses and reducing inventories in 2024.
Challenges Ahead
- Visibility is still limited and macroeconomic conditions and global industrial demand remain challenging.
- Uncertainties are further compounded by large OEM customers delaying orders and managing inventories.
- E-mobility investments remaining soft.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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