IPG Photonics Expects Russian Operations Sale To Reduce Q3 Revenue As Compared To Previously Provided Guidance By $5M; Expects To Record Total Estimated Charges Of $195M - $210M
Portfolio Pulse from Benzinga Newsdesk
IPG Photonics anticipates a $5M reduction in Q3 revenue due to the sale of its Russian operations, IRE-Polus. The company expects to incur charges between $195M and $210M related to this transaction.
August 29, 2024 | 8:03 pm
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IPG Photonics expects a $5M reduction in Q3 revenue due to the sale of its Russian operations, IRE-Polus. The company will incur charges between $195M and $210M, impacting its financials.
The sale of IRE-Polus will reduce IPG Photonics' Q3 revenue by $5M and result in significant charges of $195M-$210M. This financial impact is likely to negatively affect the stock price in the short term.
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