Stratasys (NASDAQ:SSYS) stock is taking off on Monday following the release of the 3D printing company’s Q4 2020 earnings report.
The positive earnings report for Stratasys starts off with adjusted earnings per share of 13 cents. That’s good news for SSYS stock as it beats out Wall Street’s estimate of flat EPS for the quarter. However, it’s worth noting this is down from the adjusted EPS of 18 cents from the same time last year.
Stratasys’ revenue for the fourth quarter of 2020 came in at $142.4 million. Yet again, this is better than analysts’ estimates, which were sitting at $135.34 million. It’s also a decline compared to the $160.2 million in revenue from the same period of the year prior.
Dr. Yoav Zeif, CEO of SSYS, said this about the news sending the company’s stock higher today.
“Our results reflect the resilience and diversification of our business model. We delivered sequential revenue growth in the back half of the year and this quarter produced the highest operating cash flow in almost three years. We believe both our industry and company are starting to enter a meaningful, sustained trajectory of unprecedented growth and are excited to capitalize on the opportunities ahead.”
Stratasys also includes guidance for 2021 in its most recent earnings report. The company says it expects Q1 revenue to be roughly the same as in 2020. Then it expects revenue growth in the mid-teens for the second quarter of the year.
SSYS stock was up 16.4% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.