COGNEX CORPORATION Reports Profits for FY2023 Q2, Announced August 3 2023
August 12, 2023
☀️Earnings Overview
On August 3 2023, Cognex Corporation ($NASDAQ:CGNX) released their financial results for Q2 FY2023, which ended on June 30 2023. Revenue for the quarter was USD 242.5 million, representing a year-on-year decrease of 11.7%. Meanwhile, net income decreased by 2.4% to USD 57.5 million compared to the same quarter last year.
Stock Price
On Thursday, August 3, 2023, COGNEX CORPORATION reported profits for the second quarter of the fiscal year 2023. Despite the slight dip, overall the company had a successful quarter in terms of profits. COGNEX CORPORATION is a leading provider of advanced machine vision, image analysis, and artificial intelligence technology with products that can be used across a variety of industries. The company’s products are used to improve accuracy, efficiency, and throughput in manufacturing and other automation tasks. COGNEX CORPORATION also announced that it has made investments in developing AI-driven vision solutions for industrial robots.
This will help them to compete better in the robotics industry as it is rapidly evolving. Overall, investors seem to be pleased with the results of COGNEX CORPORATION’s second quarter performance. The company has posted a strong performance this quarter, and with its focus on AI-driven vision solutions, it looks like they are well-positioned to continue to be a leader in the robotics industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cognex Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 892.69 | 172.38 | 18.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cognex Corporation. More…
| Operations | Investing | Financing |
| 207.18 | -68.56 | -138.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cognex Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2k | 517.65 | 8.59 |
Key Ratios Snapshot
Some of the financial key ratios for Cognex Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.0% | 18.1% | 20.6% |
| FCF Margin | ROE | ROA |
| 21.1% | 7.9% | 5.8% |
Analysis
GoodWhale recently conducted an analysis of COGNEX CORPORATION‘s wellbeing, and based on our Star Chart classification it was categorized as a ‘rhino’, meaning it has achieved moderate revenue or earnings growth. This kind of company is likely to be appealing to investors who prioritize asset growth, dividend yield, and profitability. Additionally, being medium in growth, COGNEX CORPORATION scores a high health score of 10/10 with regard to its cashflows and debt, indicating that it will be able to sustain future operations in times of crisis. All considered, COGNEX CORPORATION is a strong investment opportunity for those looking to prioritize long-term sustainability over capital gain. More…
Peers
Cognex Corp is in competition with Henan Thinker Automatic Equipment Co Ltd, Quantum Computing Inc, and Faro Technologies Inc. All four of these companies are leaders in the development and manufacturing of automatic equipment and software for a variety of industries. Cognex Corp has a strong focus on research and development, which has allowed them to stay ahead of the competition and maintain a leading market share.
– Henan Thinker Automatic Equipment Co Ltd ($SHSE:603508)
Henan Thinker Automatic Equipment Co Ltd is a company that manufactures and sells automatic equipment. The company has a market capitalization of 4.7 billion as of 2022 and a return on equity of 5.64%. The company’s products include automatic machines for various industries such as food and beverage, pharmaceutical, and chemical. The company also provides services such as installation, training, and maintenance.
– Quantum Computing Inc ($NASDAQ:QUBT)
Quantum Computing Inc is a publicly traded company that designs, manufactures, and markets quantum computers. As of 2022, the company has a market capitalization of 69.84 million and a return on equity of -25.37%. The company’s quantum computers are based on the principles of quantum mechanics and are used for various applications such as data security, early detection of disease, and large-scale simulation.
– Faro Technologies Inc ($NASDAQ:FARO)
Faro Technologies Inc is a publicly traded company that provides 3D measurement, imaging, and realization solutions. Its products are used in a variety of industries, including automotive, aerospace, construction, and manufacturing. The company has a market cap of 490.95M as of 2022 and a return on equity of -3.5%.
Summary
Cognex Corporation reported their earnings results for the second quarter of FY2023 ending June 30th 2023, showing a total revenue decrease of 11.7% year-over-year. Net income decreased 2.4% year-over-year. This news has investors taking a closer look at the company’s performance and future prospects.
Analysts are noting that the company’s current financial performance does not inspire confidence in investors, as their revenue and net income have both decreased. Investors are watching closely to see if Cognex Corporation can turn things around in the upcoming quarter, or if the trend of declining performance will continue.
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