Financial News
What To Expect From Proto Labs’s (PRLB) Q3 Earnings
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? Read our full analysis here, 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 our full analysis of Luxfer’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 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).
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