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Jun 30, 2020
3D Systems Q2 2020 Earnings Report
3D Systems experienced a decline in revenue due to the COVID-19 pandemic and is reorganizing to focus on healthcare and industrial markets and restructuring to reduce operating costs.
Key Takeaways
3D Systems reported a decrease in revenue for the second quarter of 2020, primarily due to the impact of the COVID-19 pandemic. The company is focusing on healthcare and industrial markets and implementing restructuring to reduce operating costs by $100 million per year.
Reorganizing to focus on two market verticals: Healthcare and Industrial.
Restructuring to reduce operating costs by $100 million per year.
Q2 2020 GAAP revenue was $112.1 million, compared to $157.3 million in Q2 2019.
Q2 2020 GAAP loss was $0.33 per share compared to a loss of $0.21 per share in Q2 2019.
Forward Guidance
The company expects the resizing effort, in conjunction with other cost reduction measures, to reduce annualized costs by approximately $100 million by the end of next year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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