Stratasys (NASDAQ:SSYS) earnings for the first quarter of 2020 have SSYS stock down on Thursday afternoon. This this is due to the company reporting revenue of $132.91 million, which is under Wall Street’s estimate of $136.53 million. Also, its diluted loss per share of 19 cents was below analysts’ expectations of a 5-cent loss for the quarter.
Additionally, the company reported a GAAP loss per share of 40 cents for the period.
Here is what else is worth mentioning from the most recent Stratasys earnings report.
- Per-share losses were much worse than the earnings per share (EPS) of 10 cents during Q1 2019.
- Revenue for the quarter comes in 14.4% lower compared to $155.3 million during the same time last year.
- Operating loss of $19.9 million was 508.6% down year-over-year from $3.27 million
- The Stratasys earnings report also includes a net loss of $20.79 million.
- That’s 728.3% worse than loss of $2.51 million from the first quarter of 2019.
Yoav Zeif, chief executive officer of Stratasys, had this to say about the SSYS stock earnings report:
“With over 30 years of experience leading the 3D Printing industry that we helped found, Stratasys was well positioned to mobilize what we believe is the largest additive manufacturing network in the world, in order to assist in the fight against COVID-19. We leveraged our application expertise, our channel and partner network and our corporate-wide resources to help get a variety of printed parts to the global medical community. We are well-prepared to manage the downturn with a strong balance sheet and focus on cost control and cash generation.”
Stratasys has withdrawn its guidance due to the ongoing effects of the novel coronavirus. That said, we know what Wall Street is looking for. Analyst expectations for fiscal year 2020 call for EPS of 11 cents on revenues of $570.82 million.
SSYS stock was down 8.7% as of Thursday afternoon.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.