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3D Systems tumbles on Q3 results miss, annual rev forecast cut



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** 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)

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