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.
Fri, Aug. 19, 8:34 AM
- James McCarley has joined the company as Chief Executive Officer and S. Kent Rockwell, previously Chairman of the Board and CEO, is transitioning to Executive Chairman of the Board of Directors.
- In his new role, Rockwell will continue to lead the firm’s strategic planning and execution.
Tue, Aug. 9, 4:28 PM
Mon, Aug. 8, 5:35 PM
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Tue, Mar. 22, 6:04 PM
- ExOne (NASDAQ:XONE) is up 7.1% after hours to $13.85 after beating Q4 estimates and reporting 12 printer sales (up from 5 in seasonally weaker Q3 and 11 a year ago).
- Unlike in prior quarters, ExOne hasn't provided formal guidance in its earnings report. CEO Kent Rockwell: "Our strong backlog coupled with our active pipeline of business opportunities give us confidence in our expectations ... We approach the year with cautious optimism, knowing that macroeconomic uncertainties, including the depressed energy sector and foreign currency devaluations, will influence the timing of capital equipment purchases and other spending decisions."
- He adds ExOne plans to "implement operational improvements to increase our facility utilization and enhance working capital management." As it is, GAAP operating expenses fell 36% Y/Y in Q4 to $7.2M - SG&A spend fell 43% to $5.1M, and R&D spend 5% to $2.1M.
Q4 details: 3D printing machine revenue fell by $0.6M Y/Y to $9.6M. Sales of 3D printed and other products, materials, and services rose by $1M to $6.6M. Cost cuts/improved efficiency helped gross margin rise to 37.5% from 13.2% in Q3 and 24.5% a year ago.
ExOne ended 2015 with a $16.5M backlog and a $19.3M cash balance. The company has since raised $13M via stock offerings.
- ExOne's Q4 results, earnings release
- Earlier today: ExOne up sharply ahead of Q4 report.
Tue, Mar. 22, 5:32 PM
- ExOne (NASDAQ:XONE): Q4 EPS of -$0.08 beats by $0.07.
- Revenue of $16.2M (+2.8% Y/Y) beats by $1.49M.
- Shares +2.85% AH.
Tue, Mar. 22, 1:15 PM
- ExOne (XONE +9.8%) is posting big gains ahead of a Q4 report due this afternoon. 539K shares have already been traded, more than 2x a 3-month daily average of 261K.
- The 3D printer maker reiterated its 2015 guidance on March 14, while delaying the Q4 report's release by a week. Peers 3D Systems and Stratasys have delivered market-pleasing reports.
- Shorts may be looking to cover ahead of the report: 2.2M shares (26% of the float) were shorted as of Feb. 29.
Mon, Mar. 21, 5:35 PM
Tue, Mar. 15, 1:00 PM
- A day after surging in sympathy with 3D Systems, ExOne (XONE -9.8%) is seeing steep losses after pushing back its Q4 earnings release by a week to March 22 and reiterating its 2015 sales/shipment guidance.
- Volume is strong, but not huge - 255K shares vs. a 3-month full-day average of 271K. There could be some disappointment ExOne didn't hike its guidance in the wake of 3D Systems' and Stratasys' Q4 beats. The 3D printer maker trades for 4.3x its 2015 sales guidance of $40M.
Mon, Mar. 14, 5:36 PM
- Citing the need for additional time to finish its 2015 books, ExOne (NASDAQ:XONE) is delaying the release of its Q4 report by a week to the afternoon of March 22.
- The 3D printer maker is also reiterating 2015 guidance for revenue of $40M (consensus is at $39M), gross margin of 17%-21%, and a year-end cash balance of $18M-$22M. ExOne also reiterates it shipped 11 printers in Q4, and thus 38 in 2015.
- Shares haven't yet moved after hours since the announcement. They rose 9.9% in regular trading thanks to 3D Systems' Q4 beat.
Mon, Mar. 14, 5:35 PM
Mon, Mar. 14, 9:22 AM
- 3D Systems (NYSE:DDD) is up 15.3% premarket to $13.32 after (belatedly) posting a large Q4 beat. The numbers come 11 days after rival Stratasys delivered a Q4 beat and issued strong guidance, and are stoking hopes the 3D printing industry, hit hard last year as clients worked through excess capacity, is finally bottoming.
- 3D didn't provide any formal guidance in its earnings release. Interim CEO Andrew Johnson: "While market conditions remain challenging and uncertain, timing of healthcare and industrial customer orders as well as contributions from acquisitions supported revenue during the quarter ... We are continuing an extensive and comprehensive review of our business and strategy and taking steps to better prioritize our resources and focus our investments."
Q4 details: Product revenue fell 10% Y/Y to $116M. Services revenue rose 16% to $67.4M. Gross margin was 47.7%, +80 bps Q/Q and -20 bps Y/Y. GAAP operating expenses rose a modest 4% Y/Y to $88.9M - $66.5M was spent on SG&A, and $22.4M on R&D.
A $537.2M impairment charge was recorded. 3D ended 2015 with $155.6M in cash and almost no debt.
- Stratasys (NASDAQ:SSYS) is up 6.5% premarket. ExOne (NASDAQ:XONE) is up 1.1%. Voxeljet (NYSE:VJET) is up 3.9%.
- 3D Systems' Q4 results, earnings release