Wed, Nov. 16, 11:08 AM
- Yesterday: Stratasys off Q3 forecasts, Q4 projections; -10%
- Analyst Steve Milunovich moves from $19 to $16 (current price $18.23), citing uncertain clarity on demand (though notes potential for stabilization next year), competition, and concerns Stratasys "may not be a winner as additive manufacturing expands into production."
- Shares (NASDAQ:SSYS) are trending 1.5% higher early today, though the upward shift represents only mild remission from the 12%+ losses posted yesterday on the company's Q3 report and forward outlook.
Tue, Nov. 15, 3:00 PM
Tue, Nov. 15, 2:06 PM
- Earlier: Stratasys off Q3 forecasts, Q4 projections; -10%
- Related sector components in the red on the day – 3D Systems (DDD -3.9%), Voxeljet (VJET -4.8%) [not helped by that company's own recently posted results], ExOne (XONE -2.5%)
- Materialise (NASDAQ:MTLS), resisting today's downward move in the space, is up on the session 3.5%. Stratasys (NASDAQ:SSYS), meanwhile, is at present registering 17% losses since disclosing the report.
- Stratasys Q3 earnings call transcript
Tue, Nov. 15, 12:43 PM
Tue, Nov. 15, 9:17 AM
Tue, Nov. 15, 8:55 AM
- Results – revenue $157.18M (-6.2% Y/Y, $17.36M below estimates), EPS $0.00 (consensus $0.05), gross margin 54% (vs. 50.8% Y/Y), operating income $3.3M (vs. $10M operating loss Y/Y), cash and cash equivalents $239.3M, net R&D expense $24M (15.3% of net sales), EBITDA $12M
- FY 2016 projections – revenue $662M-$673M (consensus $701.47M), net income $7M-$11M ($0.13-$0.21 per share) [consensus $0.32], gross margin 54%-55%, operating margin 3%-4%, tax expense $15M-$17M, capital expenditures $50M-$60M
- Stratasys (NASDAQ:SSYS) CEO Ilan Levin: "The introductions of the Stratasys Infinite-Build and Robotic Composite 3D Demonstrators both evidence the unique long-term value of our core technologies and highlight the importance of strategic relationships in developing solutions. These innovations demonstrate our potential to meet the needs of customers by leveraging our core assets within key vertical markets. We believe these types of opportunities remain significant across multiple industries, and we are committed to seeking their further development."
- Prior quarters overview
- Conference call
- Earnings slides
- Press release
Tue, Nov. 15, 6:03 AM
Mon, Nov. 14, 5:35 PM
Fri, Nov. 11, 9:28 AM
- Attributed to the insolvency of a major Voxeljet UK customer and worse-than-expected Q3 sales out of the company's German operation.
- Analyst Kenneth Wong lowers price target from $5 to $3.50. Shares are to that target pre-market, lower by 15%.
- Regarding other 3D names, particularly 3D Systems (NYSE:DDD) and Stratsys (NASDAQ:SSYS), expects some potentially mild selling, though due to the specific nature of Voxeljet's issues, considers to be mostly isolated.
Fri, Oct. 14, 11:04 AM
- 3D printing has been under pressure of late, with 3D Systems (DDD -3.7%) lower by 18%, Stratasys (SSYS -3.3%) 12%, ExOne (XONE -1.8%) 9% and Materialise (MTLS +5.1%) 3.5% this week alone.
- Piper Jaffray's Troy Jensen cites continued weakness in prototyping, growing competition and general macro headwinds negatively impacting the sector.
- On Stratasys (Neutral rating): "While last quarter a few of Stratasys’ largest resellers had better than expected quarters, we believe most of the Stratasys larger resellers fell below expectations in Q3."
- On 3D Systems (Underweight rating): "Given our quarterly survey pointed to weakening system sales, we expect the company to once again report revenues below Street estimates, but due to the company’s ongoing restructuring initiatives we believe EPS will be less at risk. Regardless, we believe meaningful downside remains in shares."
- 3D Systems, Stratasys, ExOne and Materialise to report results next month.
Tue, Sep. 6, 6:55 PM
- GE's $1.4B purchase of a pair of 3D-printer companies sent stocks in the group soaring in today's trade, with 3D Systems (NYSE:DDD) closing +5.5%, Stratasys (NASDAQ:SSYS) +3.7%, Voxeljet (NYSE:VJET) +4.6% and ExOne (NASDAQ:XONE) +5.8%.
- But GE closed 0.7% lower, as analysts say that while 3D printing is promising, GE’s acquisitions are a “net negative” because there are relatively few short-term benefits.
- “This seems like a relatively outsized and expensive bet, with no near-term return, and an incremental opportunity cost when considering the ongoing debate around what we view as finite balance sheet capacity,” says J.P. Morgan's Steve Tusa.
- Cowen analyst Gautam Khanna takes a longer view, saying that “while the deals appear pricey, they help position GE to lead, implement and control additive manufacturing processes that will become important cost-reduction levers long term in Aviation and elsewhere."
- As for the 3-D companies, Citigroup’s Kenneth Wong says that while the GE deal does not present any immediate competition for them, it does not necessarily suggest any buyout implications for the companies since GE is focusing on metal applications.
Tue, Sep. 6, 10:23 AM
- Following news General Electric has agreed to acquire two European 3D printing companies, Stratasys (SSYS +5.9%), Voxeljet (VJET +6.5%), Materialise (MTLS +5.3%), ExOne (NASDAQ:XONE) and 3D Systems are seeing notable gains in early session trading.
- The development marks some positive relief for a 3D printing market that has seen struggling revenue growth and lower demand of late.
Thu, Aug. 4, 12:44 PM
- 3D Systems (DDD -0.6%) is up more than 15% since reporting Q2 results earlier this week. Stratasys (SSYS -2.8%) reported yesterday and following an initial spike, has fallen nearly 10% from today's open.
- The companies each posted EPS of $0.12 (both beating estimates by $0.06) though registered 5.6% (Stratasys) and 7.3% (3D Systems) declines in Y/Y revenue, continuing a now four-quarter trend. Both have cited weakening demand in the 3D printer market.
- From 3D Systems: "Quarterly revenue benefited from continued strong demand for the company’s healthcare solutions and software as well as higher materials orders from healthcare and industrial customers. However, these gains were not enough to offset the lower demand for 3D printers and on demand manufacturing in the quarter, resulting in a 7% decrease in revenue compared to the second quarter of 2015."
- From Stratasys: "We continue to see weak market demand and longer sales cycles resulting in slow hardware sales across all regions and business units."
- With similar reports and market viewpoints, it's worth observing where the two companies go from here.
Thu, Aug. 4, 9:16 AM
- Gainers: CBMX +31%. OCUL +27%. ALIM +18%. GV +18%. SQ +17%. DRAM +16%. XPO +14%. PCRX +12%. FHCO +11%. EPE +10%. EXEL +8%. APHB +7%. SSYS +7%. GOGO +6%. EVOK +5%. TSEM +5%.
- Losers: SGMO -25%. TDOC -21%. INOV -17%. KOOL -13%. SEAS -10%. QUIK -9%. IMGN -9%. CF -8%. AMRN -8%. TRIP -8%. CRC -6%. USCR -6%.
Thu, Aug. 4, 7:06 AM
Wed, Aug. 3, 5:30 PM
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