Stratasys (NASDAQ:SSYS) earnings for the 3D printer company’s third quarter of 2019 have SSYS stock taking a fall on Wednesday. This is despite its Non-GAAP EPS of 12 cents per share beating out analysts’ estimates of 11 cents. The issue comes from revenue of $157.46 million, which is well below Wall Street’s estimate of $162.10 million.
Now for a more in-depth breakdown of the Q3 Stratasys earnings report.
- Non-GAAP per-share earnings are up 9.09% from 11 cents in Q3 2018.
- Revenue is down 2.83% YoY from $162.05 million.
- The Stratasys earnings report sees it change to an operating loss from an operating profit during the same time last year.
- Net loss widened 836.91% from -$745,000 in the third quarter of 2018 to -$6.98 million in the current quarter.
Elchanan Jaglom, the interim CEO of Stratasys, says this of the most recent SSYS stock earnings.
“Our results in the third quarter reflect a continuation of our track record of delivering earnings and profitability, despite challenging global economic conditions that have impacted customer investments in our target verticals in Europe and Asia. We continue to believe that when macro conditions improve we will see a return to growth in Europe and Asia, and believe we are well positioned with an impressive portfolio of new products as we finish 2019.”
The Stratasys earnings report also includes its outlook for 2019. This has it expecting adjusted earnings per share between 55 cents and 70 cents on revenue ranging from $640 million to $655 million. Wall Street is estimating adjusted EPS of 60 cents on revenue of $666.68 million for the year.
SSYS stock was down 10.05% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.