IPG Photonics Guides Q3 Well Below View As Q2 Results Miss Estimates

RTTNews | 225 days ago
Stocktwits
IPG Photonics Guides Q3 Well Below View As Q2 Results Miss Estimates

(RTTNews) - While reporting financial results for the second quarter on Tuesday, IPG Photonics Corp. (IPGP) provided earnings and revenue guidance for the third quarter, well below estimates.

For the third quarter, the company expects earnings in a range of $0.00 to $0.30 per share on revenues between $210 million and $240 million.

On average, seven analysts polled by Thomson Reuters expect the company to report earnings of $0.78 per share on revenues of $282.34 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income attributable to the company of $20.15 million or $0.45 per share, sharply lower than $62.32 million or $1.31 per share in the prior-year quarter. Net sales for the quarter declined 24 percent to $257.65 million from $339.97 million in the same quarter last year.

The Street expected the company to report earnings of $0.51 per share on revenues of $258.95 million for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: IPGP
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Canadian Stocks Turning In Mixed Performance After BoC Rate Cut, U.S. Inflation Data

Canadian Stocks Turning In Mixed Performance After BoC Rate Cut, U.S. Inflation Data

Canadian stocks are turning in a mixed performance Wednesday morning with investors digesting the Bank of Canada's interest rate decision, and tamer than expected U.S. consumer price inflation data. Worries about the U.S. Government's stance on tariffs, and the possibility of recession in the U.S., Canada and Mexico, are weighing on sentiment and limiting market's upside.
RTTNews | 5h 21min ago
Elon Musk's Starlink Partners With India's Jio And Airtel

Elon Musk's Starlink Partners With India's Jio And Airtel

Close on the heels of signing an agreement with one of India's telecom majors Airtel, Elon Musk's SpaceX signed a deal with the country's another tycoon Jio Platforms Ltd, affiliated to Billionaire Mukesh Ambani's Reliance Industries, to offer Starlink satellite Internet services in the country.
RTTNews | 6h 19min ago
Bank Of Canada Cuts Interest Rates By Another 25 Basis Points

Bank Of Canada Cuts Interest Rates By Another 25 Basis Points

With inflation close to the 2 percent target, the Bank of Canada on Wednesday announced its widely expected decision to lower interest rates by another 25 basis points, making its seventh straight rate cut. The Bank of Canada said it decided to reduce its target for the overnight rate to 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent.
RTTNews | 6h 44min ago
U.S. Consumer Prices Rise Less Than Expected In February, Annual Growth Slows

U.S. Consumer Prices Rise Less Than Expected In February, Annual Growth Slows

A report released by the Labor Department on Wednesday showed consumer prices in the U.S. increased by slightly less than expected in the month of February. The Labor Department said its consumer price index crept up by 0.2 percent in February after climbing by 0.5 percent in January. Economists had expected consumer prices to rise by 0.3 percent.
RTTNews | 7h 4min ago
Bay Street Likely To Open On Positive Note

Bay Street Likely To Open On Positive Note

The Bank of Canada's interest rate decision, and U.S. consumer price inflation data are in focus on Bay Street Wednesday morning. The market looks set to open higher thanks to firm commodity prices and European stocks.
RTTNews | 7h 56min ago
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