Proto Labs Scores First-Quarter Beat, Fueled By Order Growth, Higher-Margin Factory Business
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 03 2024
0mins
Source: Business Insider
- Financial Performance: Proto Labs, Inc. reported a 1.6% year-over-year revenue growth in the first quarter of FY24, surpassing expectations.
- Key Metrics: Protolabs Network revenue rose by 38.9% Y/Y, adjusted gross margin expanded to 45.6%, and adjusted operating income and EBITDA increased significantly.
- Earnings and Cash Flow: The company posted an improved adjusted EPS of $0.40 compared to $0.30 Y/Y and had strong cash flow from operations totaling $21.3 million.
- Q2 Outlook: Protolabs anticipates revenue between $122 million-$130 million for the second quarter and adjusted EPS of $0.30-$0.38, slightly below consensus estimates.
- Investor Information: Investors interested in Proto Labs can consider exposure through ETFs like 3D Printing (The) ETF and Pacer BlueStar Engineering The Future ETF.
Analyst Views on PRLB
Wall Street analysts forecast PRLB stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PRLB is 55.00 USD with a low forecast of 55.00 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 55.190
Low
55.00
Averages
55.00
High
55.00
Current: 55.190
Low
55.00
Averages
55.00
High
55.00
About PRLB
Proto Labs, Inc. provides comprehensive manufacturing service from prototyping to production. Its digital factories produce low-volume parts in days while Protolabs Network provides advanced capabilities and volume pricing through its manufacturing partners. Its services include injection molding, computer numerical control (CNC) machining, three-dimensional (3D) printing and sheet metal fabrication. Its injection molding services include plastic injection molding, liquid silicone rubber molding, and over molding and insert molding. Its CNC machining services include CNC milling, CNC turning, precision machining, threading options and finishing options. Its 3D printing services include metal 3D printing, multi jet fusion and advanced photopolymers. Its sheet metal fabrication services include laser cutting, punching, fabricated assemblies, and prototyping. It serves various industries, including medical, robotics, aerospace, automotive, consumer electronics and industrial equipment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
