From Nasdaq: 2024-07-30 16:25:00

IPG Photonics reported earnings of 45 cents per share in the second quarter of 2024, missing estimates by 6.25%. Revenues of $258 million decreased 24% year-over-year but beat estimates by 0.88%. Quarterly details show a decline in materials processing and sales in various regions. The company projects third-quarter sales of $210-$240 million. They currently have a Zacks Rank #2 (Buy). Underperforming year-to-date compared to the sector, other top-ranked stocks include Shopify, Apple, and Cognizant Technology Solutions. Shopify will report Q2 results on Aug 7, Apple on Aug 1 for Q3, and Cognizant Technology Solutions on Jul 31 for Q2. To potentially benefit from upcoming earnings surprises, consider the free download of Zacks’ special report revealing 5 promising stocks.



Read more at Nasdaq: IPG Photonics (IPGP) Q2 Earnings Miss, Revenues Decline Y/Y