🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

What To Expect From Proto Labs’s (PRLB) Q3 Earnings

Published 2024-10-31, 03:02 a/m
© Reuters.  What To Expect From Proto Labs’s (PRLB) Q3 Earnings
PRLB
-

Stock Story -

Manufacturing services provider Proto Labs (NYSE:PRLB) will be reporting earnings tomorrow before the bell. Here’s what you need to know.

Proto Labs met analysts’ revenue expectations last quarter, reporting revenues of $125.6 million, up 2.8% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but revenue guidance for next quarter missing analysts’ expectations.

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 decline 7.1% year on year to $121.4 million, a reversal from the 7.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.32 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 Q3 results, giving us a hint as to what we can expect. Luxfer delivered year-on-year revenue growth of 2.1%, beating analysts’ expectations by 15.9%, and Energy Recovery reported revenues up 4.2%, falling short of estimates by 1.4%. Luxfer traded up 14.4% following the results.

Read the full analysis of Luxfer’s and Energy Recovery’s results on StockStory.

Investors in the industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. Proto Labs is down 1.6% during the same time and is heading into earnings with an average analyst price target of $38.33 (compared to the current share price of $27.60).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.