Manufacturing services provider Proto Labs (NYSE: PRLB) will be reporting results this Friday before the bell. Here’s what you need to know.
Proto Labs beat analysts’ revenue expectations last quarter, reporting revenues of $136.5 million, up 12.1% year on year. It was a stunning quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
Is Proto Labs a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Proto Labs’s revenue to grow 7.2% year on year, a reversal from the 1.3% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Proto Labs rarely misses Wall Street’s revenue estimates.
Looking at Proto Labs’s peers in the industrial machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 7.7%, beating analysts’ expectations by 3.5%, and Luxfer reported a revenue decline of 13.5%, falling short of estimates by 0.7%. Gorman-Rupp traded up 16% following the results while Luxfer was also up 6.9%.
Read our full analysis of Gorman-Rupp’s results here and Luxfer’s results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 8.6% on average over the last month. Proto Labs is up 9.6% during the same time and is heading into earnings with an average analyst price target of $71.67 (compared to the current share price of $62.49).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
