Why Stratasys Is Thursday’s Big Earnings Winner
Stratasys shares surged after it reported its most recent quarterly results before the markets opened on Thursday.
Stratasys Ltd. (NASDAQ: SSYS) reported its most recent quarterly results before the markets opened on Thursday. The company said that it had $0.11 in earnings per share (EPS) and $162.0 million in revenue. Consensus estimates that called for $0.05 in EPS and $161.61 million in revenue, and the same period of last year had $0.08 in EPS and $155.87 million in revenue.
During the most recent quarter, the gross margin was 52.1%, versus 52.5% for the same period last year
Looking ahead to the full year, the company expects to see EPS in the range of $0.50 to $0.55 and revenue between $670 million and $680 million. Consensus estimates call for $0.40 in EPS and $672.31 million in revenue.
On the books, Stratasys cash and cash equivalents totaled $348.9 million at the end of the quarter, up from $328.8 million in the same period of last year.
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Elchanan (Elan) Jaglom, interim CEO of Stratasys, commented:
We are pleased with our results this quarter, reflecting continued strength in our high-end systems orders, utilization rates and our parts services business. The level of engagement we are experiencing with customers in our key verticals is encouraging, as we highlighted at the recent International Manufacturing Technology Show. And we are excited about the innovation we plan to bring to market to drive incremental, long-term opportunities, as we continue to invest in new products and materials across our portfolio of FDM and PolyJet technologies, our new metal additive manufacturing platform, and advanced composite materials.
Shares of Stratasys were last seen up about 24% at $23.75. The consensus analyst price target is $20.43. The stock has a 52-week range of $17.17 to $26.17.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
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