Cognex reports Q2 adjusted EPS 23c, consensus 20c

Reports Q2 revenue $239M, consensus $240.39M. “Cognex delivered second quarter revenue and gross margin in line with expectations and operating expenses favorable to our guidance,” said CEO Robert Willett. “Year-on-year revenue growth in the quarter was strong in our Logistics and Semiconductor end markets, however revenue across the rest of our factory automation business continues to be soft. Amidst this challenging operating environment, we remain focused on creating long-term value through AI-driven product innovation and our Emerging Customer initiative, as well as on key financial priorities including cost management and capital efficiency.”