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
IPG Photonics Guides Q2 In Line With View; Q1 Results Top Estimates
IPG Photonics Guides Q3 EPS In Line With View; Q2 EPS Misses Estimates
TSX Pares Gains After Hitting Fresh Record High; Gildan Activewear Soars 11%
Swiss Market Ends On Firm Note
European Stocks Close Mostly Higher
Bay Street Likely To Open On Positive Note
U.S. Dollar Extends Fall Amid Fed Rate Cut Speculation
