IPG Photonics reports Q3 adjusted EPS 29c, consensus 19c

Reports Q3 revenue $233.1M, consensus $227.89M. “IPG has made important progress strategically and operationally in the last several months,” said Dr. Mark Gitin, IPG Photonics (IPGP)’ Chief Executive Officer. “Our third-quarter results were at the high end of our guidance when adjusted for the divested revenue. We completed our exit from Russia and are strengthening our position in fast-growing high-precision laser cleaning applications with the announced acquisition of cleanLASER. These moves, along with progress in our innovation pipeline and actions underway to gain efficiencies across our business, underscore that we are controlling what we can control as we position for demand recovery.”