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Cognex Corp (CGNX)
NASDAQ:CGNX
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Earnings Data
Report Date
Feb 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.15Last Year’s EPS
$0.07Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -11.42%
|Next Earnings Date:Feb 13, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with strong growth in Logistics and emerging customer initiatives driving revenue, but significant challenges in Automotive and pricing pressures impacting margins. While there are promising developments in AI and machine vision, the overall market conditions remain challenging.Company Guidance
During the Cognex Q3 2024 earnings call, the company provided guidance indicating a stable yet challenging market outlook. Revenue for the third quarter increased by 19% year-on-year, reaching $235 million, with adjusted EBITDA margin aligning with guidance. Excluding the Moritex acquisition, revenue grew by 7%, driven by strong performance in Logistics and Semiconductor sectors. The company noted a significant step down in the Automotive market, citing overinvestment in electric vehicles and macroeconomic uncertainties. Cognex's emerging customer initiative gained traction, with the first cohort of sales representatives generating nearly $1 million per week in sales, contributing to the addition of around 3,000 new accounts this year. The company anticipates Q4 2024 revenue between $210 million and $230 million, with adjusted gross margins expected in the high 60% range, influenced by mix and pricing pressures. Despite current market challenges, Cognex remains optimistic about its long-term growth potential, targeting over 30% adjusted operating margins.Strong Revenue Growth
Cognex reported a revenue growth of 19% year-on-year, or 7% excluding the Moritex acquisition, driven by strong performance in Logistics and Semiconductor sectors.
Emerging Customer Initiative Success
The first cohort of sales agents in the emerging customer initiative achieved nearly $1 million in weekly sales and added 3,000 new accounts this year.
Logistics Market Expansion
Logistics revenue saw strong double-digit growth year-to-date, with new customer signings and regional expansion, particularly in South Korea.
AI and Machine Vision Innovation
Launch of AI-assisted labeling and AI-driven Optical Character Recognition tools, reducing training time by 90% and expanding product accessibility.
Free Cash Flow Improvement
Cognex reported its highest quarterly free cash flow since Q4 2022, amounting to $52 million.
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CGNX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CGNX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $40.38 | $40.15 | -0.57% |
| Jul 31, 2024 | $49.43 | $38.93 | -21.24% |
| May 02, 2024 | $40.72 | $43.12 | +5.89% |
| Feb 15, 2024 | $35.88 | $38.22 | +6.52% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cognex Corp (CGNX) report earnings?
Cognex Corp (CGNX) is schdueled to report earning on Feb 13, 2025, TBA Not Confirmed.
What is Cognex Corp (CGNX) earnings time?
Cognex Corp (CGNX) earnings time is at Feb 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CGNX EPS forecast?
CGNX EPS forecast for the fiscal quarter 2024 (Q4) is $0.15.
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