IPG Photonics Corporation Q2 Profit Retreats, misses estimates

AMETEK Raises Earnings Guidance

AMETEK, Inc. (AME) said, for 2022, the company expects overall sales to be up high single digits compared to 2021. Adjusted earnings per share are now expected to be in the range of $5.46 to $5.54, an increase of 13% to 14% over the comparable basis for 2021. The company noted that this is an increase from previous guidance range of $5.34 to $5.44 per share.

The company expects overall sales in the third quarter to be up mid-single digits versus the prior year. Third quarter adjusted earnings per share are anticipated to be in the range of $1.36 to $1.38, up 8% to 10% compared to the third quarter of 2021.

Second quarter earnings came in at $282.37 million, or $1.23 per share compared with $231.68 million, or $1.00 per share, prior year. Excluding items, adjusted earnings was $1.38 per share for the period. Analysts on average had expected the company to earn $1.29 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items. The company’s revenue for the quarter rose 8.6% to $1.51 billion from $1.39 billion last year.

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WEC Energy Group Announces Rise In Q2 Bottom Line, Beats estimates

WEC Energy Group (WEC) revealed a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line totaled $287.5 million, or $0.91 per share. This compares with $276.0 million, or $0.87 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 26.8% to $2.13 billion from $1.68 billion last year.

WEC Energy Group earnings at a glance (GAAP) :

-Earnings (Q2): $287.5 Mln. vs. $276.0 Mln. last year.
-EPS (Q2): $0.91 vs. $0.87 last year.
-Analyst Estimate: $0.85
-Revenue (Q2): $2.13 Bln vs. $1.68 Bln last year.

-Guidance:
Full year EPS guidance: $4.36 to $4.40

JetBlue Airways Corp. Q2 Earnings Summary

Below are the earnings highlights for JetBlue Airways Corp. (JBLU):

Earnings: -$188 million in Q2 vs. $64 million in the same period last year.
EPS: -$0.58 in Q2 vs. $0.20 in the same period last year.
Excluding items, JetBlue Airways Corp. reported adjusted earnings of -$153 million or -$0.47 per share for the period.

Revenue: $2.45 billion in Q2 vs. $1.50 billion in the same period last year.

Expeditors International of Washington Inc. Reports Advance In Q2 Profit, Beats estimates

Expeditors International of Washington Inc. (EXPD) reported earnings for its second quarter that increased from last year and beat the Street estimates.

The company’s earnings totaled $377.81 million, or $2.27 per share. This compares with $316.37 million, or $1.84 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $2.13 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 27.4% to $4.60 billion from $3.61 billion last year.

Expeditors International of Washington Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $377.81 Mln. vs. $316.37 Mln. last year.
-EPS (Q2): $2.27 vs. $1.84 last year.
-Analyst Estimate: $2.13
-Revenue (Q2): $4.60 Bln vs. $3.61 Bln last year.

Sierra Wireless Confirms Discussion For Potential Acquisition By Semtech

Sierra Wireless, Inc. (SWIR, SW.TO), a Canadian Internet of Things solutions provider, on Tuesday confirmed that it has engaged in advanced talks for a potential acquisition by Semtech Corporation (SMTC), a semiconductor supplier, for $31 per share.

Sierra has also clarified that it does not intend to disclose any further information on the proposed transaction unless and until it enters into a definitive deal with respect thereto.

IPG Photonics Guides Q3 EPS In Line With View; Q2 EPS Misses Estimates

While reporting financial results for the second quarter on Tuesday, IPG Photonics Corp. (IPGP) provided earnings and revenue guidance for the third quarter.

For the third quarter, the company expects earnings in a range of $1.00 to $1.30 per share on revenues between $350 million and $380 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.18 per share on revenues of $381.81 million for the quarter. Analysts’ estimates typically exclude special items.

After completing previously authorized share repurchase programs during the quarter, the Board of Directors has authorized a new program to purchase up to $300 million of IPG common stock.

For the second quarter, the company reported net income attributable to the company of $56.97 million or $1.10 per share, down from $69.80 million or $1.29 per share in the prior-year quarter. Total revenue for the quarter grew 1 percent to $377.02 million from $371.66 million in the same quarter last year.

The Street is looking for earnings of $1.14 per share on revenues of $375.33 million for the quarter.

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IPG Photonics Corporation Q2 Profit Retreats, misses estimates

IPG Photonics Corporation (IPGP) released earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company’s earnings came in at $56.97 million, or $1.10 per share. This compares with $69.80 million, or $1.29 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $1.14 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 1.4% to $377.02 million from $371.66 million last year.

IPG Photonics Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $56.97 Mln. vs. $69.80 Mln. last year.
-EPS (Q2): $1.10 vs. $1.29 last year.
-Analyst Estimates: $1.14
-Revenue (Q2): $377.02 Mln vs. $371.66 Mln last year.

-Guidance:
Next quarter EPS guidance: $1.00 to $1.30