3D printer provider Markforged (NYSE:MKFG) will be reporting earnings tomorrow after the bell. Here's what to expect.
Markforged met analysts' revenue expectations last quarter, reporting revenues of $20.55 million, down 14.7% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is Markforged a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Markforged's revenue to decline 14.8% year on year to $21.69 million, a reversal from the 5% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.06 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. Markforged has missed Wall Street's revenue estimates twice over the last two years.
Looking at Markforged's peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Proto Labs delivered year-on-year revenue growth of 2.8%, meeting analysts' expectations, and Energy Recovery reported revenues up 31.3%, topping estimates by 18.6%. Proto Labs traded down 14.5% following the results while Energy Recovery was up 20.6%.
Read our full analysis of Proto Labs's results here and Energy Recovery's results here.
Investors in the industrial machinery segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Markforged is down 39.3% during the same time and is heading into earnings with an average analyst price target of $1.3 (compared to the current share price of $0.29).
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