Cognex Expects Q2 Revenue of $230M-$245M Vs $235.11M Est
Portfolio Pulse from Benzinga Newsdesk
Cognex projects Q2 2024 revenue to be between $230M-$245M, indicating a sequential increase from Q1 due to typical consumer electronics seasonality. Adjusted gross margin is expected to slightly exceed 70%, up from 68.8% in Q1, with operating expenses to rise by low to mid-single digits due to investment in the Emerging Customer initiative. The adjusted effective tax rate is anticipated to be 16%.
May 02, 2024 | 10:06 am
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Cognex expects Q2 2024 revenue to be between $230M-$245M, with an adjusted gross margin slightly above 70% and an increase in operating expenses due to investment in the Emerging Customer initiative.
The projected increase in revenue and gross margin for Q2 2024 suggests a positive outlook for Cognex, likely due to seasonal demand in consumer electronics. The planned investment in the Emerging Customer initiative, while increasing operating expenses, indicates a strategic move to foster growth, potentially leading to a positive short-term impact on CGNX's stock price.
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