3D Systems tumbles on Q3 results miss, annual rev forecast cut
** Shares of 3D Systems DDD.N tumble 15% premarket to $2.90 after qtrly results miss consensus and co lowers annual rev guidance
** 3D printer maker late Tues reported Q3 rev decreased 9% yr/yr to $112.9 mln, below LSEG est. of $115.3 mln
** Rev in qtr continued to be impacted by sluggish capital investments by its customers for new production capacity, especially in the industrial markets, CEO Dr. Jeffrey Graves said in statement
** Co posted Q3 adj loss of 12 cents/sh vs avg analysts' est. of 10 cents/sh loss
** Citing tough macro environment, timing uncertainties and qtr-qtr inventory management at year-end, co lowered 2024 rev forecast to $440-$450 mln from prior outlook of $450-$460 mln
** In contrast, peer Stratasys SSYS.O saw its shares on Nov 13 close up 20.5% after raising its 2024 earnings forecast
** Of 6 analysts covering DDD, 2 rate "buy", rest "hold"; median PT of $3.13 unchanged from a month ago and down from $4.50 on Aug 27 - LSEG
** Through Tues, stock off 46% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
</body></html>Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
