Ipg Photonics Corp (IPGP)

IPG Photonics Corporation Stock (IPGP) dropped by 5.04% from $88.15 to $83.71 in the trading on Monday October 30, 2023. The reason why IPGP stock down today is due to the concerns of investors ahead the earnings results. IPG Photonics will be reporting third-quarter results tomorrow, October 31. Analysts are expecting IPG Photonics's revenue to decline 10.1% Y/Y to $313.9 million, adjusted earnings to come in at $1.04 per share. What concerns the investors is that the last quarter was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of analysts' revenue estimates. Investors are worried about the same performance in this quarter.

IPG Photonics Corporation's shares fell 17.57% after the company reported worse-than-expected results for the second quarter. It received revenues of $340 million, decreasing by 9.8% on a year-over-year basis and lagging the consensus mark by 1.04%.

https://www.zacks.com/stock/news/2130629/ipg-photonics-ipgp-q2-earnings-beat-revenues-decrease-yy