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IPG Photonics' Q1 Adjusted Earnings Decline, Revenue Increases; Q2 Outlook Issued; Shares Drop Pre-Bell

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-- IPG Photonics (IPGP) reported Q1 adjusted earnings Tuesday of $0.29 per diluted share, down from $0.31 a year earlier.

An analyst polled by FactSet expected $0.31.

Revenue for the quarter ended March 31 was $265.5 million, compared with $227.8 million a year earlier.

An analyst polled by FactSet expected $265.5 million.

The company expects Q2 adjusted EPS of $0.25 to $0.55 and $260 million to $290 million in revenue. Analysts polled by FactSet expect $0.44 in adjusted EPS on revenue of $275.7 million.

Separately, IPG Photonics said it agreed on a global settlement with TRUMPF Laser- und Systemtechnik to resolve and close their patent dispute. No other details were disclosed.

Shares of IPG Photonics were down more than 17% premarket Tuesday.

Price: $100.60, Change: $-21.73, Percent Change: -17.76%

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