Proto Labs Scores First-Quarter Beat, Fueled By Order Growth, Higher-Margin Factory Business
Portfolio Pulse from Lekha Gupta
Proto Labs, Inc. (NYSE:PRLB) reported a first-quarter FY24 revenue increase of 1.6% Y/Y to $127.89 million, surpassing the consensus of $124.68 million. The company saw growth in its Protolabs Network revenue by 38.9% Y/Y to $23.9 million, expanded adjusted gross margin to 45.6%, and improved adjusted operating income and EBITDA. Adjusted EPS was $0.40, beating the consensus of $0.31. The company also repurchased $16.0 million of common stock. For Q2, Proto Labs expects revenue between $122 million-$130 million and adjusted EPS of $0.30-$0.38. PRLB shares rose by 5.59% to $32.88. Exposure to Proto Labs stock can also be gained through 3D Printing ETF (BATS:PRNT) and Pacer BlueStar Engineering The Future ETF (NASDAQ:BULD).
May 03, 2024 | 1:48 pm
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POSITIVE IMPACT
Pacer BlueStar Engineering The Future ETF (BULD) offers another avenue for investors to gain exposure to Proto Labs, potentially benefiting from its Q1 performance.
Given that BULD may include Proto Labs in its portfolio, the company's positive earnings report and stock price increase could indirectly impact BULD's performance positively, especially if Proto Labs is a key holding within the ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Proto Labs reported strong Q1 FY24 results with revenue and EPS exceeding expectations, driven by order growth and higher-margin factory business. Shares rose by 5.59%.
The positive earnings report, with both revenue and EPS beating consensus estimates, indicates strong company performance and operational efficiency. The significant share repurchase also demonstrates confidence in the company's future, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Proto Labs through the 3D Printing ETF (PRNT), which may see indirect benefits from Proto Labs' strong performance.
As Proto Labs is part of the 3D Printing ETF's holdings, the company's strong quarterly performance and positive outlook may indirectly benefit PRNT by potentially increasing its value, assuming Proto Labs constitutes a significant portion of the ETF's holdings.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50