Protolabs Manages To Beat Q2 Estimates; Sales Decline 3.7%
Portfolio Pulse from Lekha Gupta
Protolabs (NYSE:PRLB) reported a Q2 FY23 revenue decline of 3.7% Y/Y to $122.265 million, slightly beating the consensus of $122.12 million. The company's adjusted EPS was $0.33, beating the consensus of $0.30. Revenue from its digital network powered by Hubs was $20.2 million, up 79.3% Y/Y. However, PRLB shares are trading lower by 8.68% at $29.26.
August 04, 2023 | 3:32 pm
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Despite beating Q2 estimates, Protolabs' shares are trading lower. The company reported a revenue decline and a decrease in adjusted gross margin and EBITDA margin.
Protolabs reported a decline in revenue and margins, which are key indicators of a company's financial health. Despite beating estimates, these factors could have contributed to the drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100