3D printing company Stratasys (NASDAQ:SSYS) will be reporting results tomorrow morning. Here’s what you need to know.
Stratasys met analysts’ revenue expectations last quarter, reporting revenues of $144.1 million, down 3.6% year on year. It was a solid quarter for the company, with an impressive beat of analysts’ earnings estimates.
Is Stratasys a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Stratasys’s revenue to decline 8.4% year on year to $146.3 million, a further deceleration from the 4.1% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.05 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Stratasys has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.3% on average.
Looking at Stratasys’s peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Markforged’s revenues decreased 14.8% year on year, meeting analysts’ expectations, and Proto Labs reported revenues up 2.8%, in line with consensus estimates. Markforged traded down 9% following the results while Proto Labs was also down 14.5%.
Read our full analysis of Markforged’s results here and Proto Labs’s results here.
Inflation progressed towards the Fed’s 2% goal at the end of 2023, leading to strong stock market performance. 2024 has been a bumpier ride as the market switches between optimism and pessimism around rate cuts thanks to mixed inflation data, and while some of the industrial machinery stocks have fared somewhat better, they have not been spared, with share prices down 3% on average over the last month. Stratasys is down 9% during the same time and is heading into earnings with an average analyst price target of $14.6 (compared to the current share price of $7.67).
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