Additive Manufacturing Strategies

Stratasys’ Second Quarter Earnings Are a Blowout, Fueled By MakerBot

ST Medical Devices

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Last Thursday we saw one of the world’s largest 3D printing companies, 3D Systems, report their earnings before the market opened. Much to the surprise of many investors, their results came in lower than analysts had ssyspredicted. The stock saw an immediate 14% drop in pre-market trading, before bouncing back slightly. Nearly every 3D printing stock that day was down significantly, as investors feared that 3D Systems’ earnings could foreshadow a bad earnings season for the other companies within the industry.

This morning was Stratasys’ (SSYS) turn to share their results for the quarter. Investors anxiously waited to see if they would follow suit with lower than expected numbers, or break away from 3D Systems, and report a surprise to the up side.

Just moments ago, Stratasys announced their second quarter financial results, and they are quite impressive. Analysts had expected earnings of $0.45 per share (excluding certain items), while Stratasys reported a profit of $27.99 million, or $0.55 per share (excluding a one time item). This was compared to their second quarter of 2013 in which they brought in $18.57 million or $0.45 cents per share.

Sales for the quarter also surged, with the company blowing out analysts’ expectations for revenue with a 67% increase over last year’s second quarter, generating $178.46 million. This compares with analysts’ expectations of $156.61 million, and last year’s second quarter revenue figure of $106.48 million.

Additionally the company also surprised investors by raising their full year guidance, likely spurred on by this exceptional second quarter. Stratasys now expects to earn a total of $2.25 to $2.35 per share for the year, as compared to their previous range of $2.15 to $2.25 per share. They also bumped up their full year revenue guidance significantly, from $660 – $680 million to $750-$770 million.

The company reported selling a total of 14,909 3D printers in the second quarter alone, which compared to just 1,261 in last year’s second quarter. Another interesting piece of data is that the MakerBot line of 3D printers contributed a staggering $33.6 million this quarter to the top line, representing a 100% increase over last year’s numbers when MakerBot was independent.

The company also believes that the recent acquisitions of both Solid Concepts and Harvest Technologies will contribute a modest amount to their annual earnings. The entire second quarter financial report can be found here. Additionally, the transcript of the conference call following the report can be read here.  The stock is currently up nearly $10 in pre-market trading.

Are you an investor in Stratasys stock?  Let’s hear your opinion on the financial results of this quarter in the Stratasys earnings forum thread on 3DPB.com.

MakerBot Line of 3D Printers

MakerBot Line of 3D Printers

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