Stratasys, Ltd. (NASDAQ:SSYS) stock was up today on an update to its guidance for 2017.
The update to Stratasys, Ltd.’s 2017 outlook came in its earnings report for the third quarter of the year. It says it now expects revenue for 2017 to range from $655 million to $670 million. It was previously expecting revenue between $645 million and $680 million for the year. Wall Street is looking for revenue of $669.25 million in 2017.
Stratasys, Ltd. also updated its outlook for 2017’s earnings per share in its most recent earnings report. It is now expecting earnings per share for the year to range from 40 cents to 48 cents. The 3D printer company was previously expecting earnings per share to range from 19 cents to 37 cents for 2017. This is a boon to SSYS stock as analysts are estimating earnings per share of 37 cents for the year.
Stratasys, Ltd.’s updated guidance comes along with a mixed earnings report for the third quarter of 2017. This includes earnings per share of 8 cents on revenue of $155.90 million. Wall Street was expecting earnings per share of 5 cents on revenue of $160.97 million for the third quarter of the year.
“Our revenue for the third quarter was partially impacted by several large, multi-system orders that were deferred until October,” Ilan Levin, CEO of Stratasys, Ltd., said in a statement. “Driven by a more holistic approach to adopting our solutions, we are observing customer behavior characterized by orders for our products that are made up of multiple systems, which introduces higher quarter-to-quarter variations in order timing.”
SSYS stock was up 2% as of Tuesday afternoon and is up 26% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.