Proto Labs Inc is a leading digital manufacturing company that specializes in rapid prototyping and low-volume production services
Utilized by engineers and designers, the company leverages advanced technology and automated processes to create custom parts and products quickly and efficiently. Offering a range of services including 3D printing, CNC machining, and injection molding, Proto Labs serves various industries such as aerospace, automotive, and medical, providing clients with the tools to accelerate their product development cycles and bring innovations to market faster.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at custom parts manufacturing stocks, starting with Proto Labs (NYSEPRLB).
Proto Labs’s 34.3% return over the past six months has outpaced the S&P 500 by 21.5%, and its stock price has climbed to $42.81 per share. This was partly thanks to its solid quarterly results, and the run-up might have investors contemplating their next move.
As the Q2 earnings season wraps, let’s dig into this quarter’s best and worst performers in the custom parts manufacturing industry, including Desktop Metal (NYSEDM) and its peers.
Manufacturing services provider Proto Labs (NYSEPRLB) reported Q3 CY2024 results topping the market’s revenue expectations, but sales fell 3.9% year on year to $125.6 million. On the other hand, the company expects next quarter’s revenue to be around $119 million, slightly below analysts’ estimates. Its non-GAAP profit of $0.47 per share was also 46% above analysts’ consensus estimates.
Wrapping up Q1 earnings, we look at the numbers and key takeaways for the custom parts manufacturing stocks, including 3D Systems (NYSEDDD) and its peers.
Let’s dig into the relative performance of Stratasys (NASDAQSSYS) and its peers as we unravel the now-completed Q2 custom parts manufacturing earnings season.
Analyst initiates coverage on Proto Labs with Overweight rating and $44.00 price target. Company well-positioned in growing digital manufacturing market.
