Stock Story -
Manufacturing services provider Proto Labs (NYSE:PRLB) will be reporting results tomorrow before market hours. Here's what to expect.
Proto Labs beat analysts' revenue expectations by 2.6% last quarter, reporting revenues of $127.9 million, up 1.6% year on year. It was a decent quarter for the company, with an impressive beat of analysts' 3D Printing revenue estimates but a miss of analysts' earnings estimates.
Is Proto Labs a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Proto Labs's revenue to grow 3.3% year on year to $126.2 million, a reversal from the 3.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.35 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. Proto Labs has missed Wall Street's revenue estimates three times over the last two years.
Looking at Proto Labs's peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. and Flowserve (NYSE:FLS) reported revenues up 7.1%, topping estimates by 2.4%. Desktop Metal traded down 4.1% following the results while Flowserve was also down 3.2%.
Read the full analysis of Desktop Metal's and Flowserve's results on StockStory.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 10% on average over the last month. Proto Labs is up 13.5% during the same time and is heading into earnings with an average analyst price target of $41 (compared to the current share price of $34.82).
![Proto Labs (PRLB) Q2 Earnings Report Preview: What To Look For](https://d68-invdn-com.investing.com/content/pic7e48e98b40e5ed6ca788c2229b65e12d.jpeg)