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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.
IPG Photonics
IPG Photonics
IPG Photonics Revenue by Segment
IPG Photonics Revenue by Geographic Location
Revenue by Segment
Materials Processing Revenue
CapyFin.comOther Applications Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.com 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.
- Some of our more mature markets are also seeing increased competition.
- Beginning of the year is going to be challenging.
Revenue & Expenses
Visualization of income flow from segment revenue to net income