PROTO LABS Reports FY2023 Q2 Earnings Results on June 30th, 2023
August 24, 2023
🌥️Earnings Overview
On June 30th, 2023, PROTO LABS ($NYSE:PRLB) reported their Q2 FY2023 earnings results which ended on the same date. Compared to the same period in the prior year, total revenue decreased to USD 122.3 million, a 3.7% decline, while net income decreased to USD -0.38 million from USD 2.56 million.
Stock Price
On the day, PROTO LABS stock opened at $30.5, and closed at $30.6, down by 3.6% from the previous day’s closing price of 31.8. This resulted in a decrease of overall market capitalization for the company. Despite the downturn in market activity, PROTO LABS reported strong earnings results for the quarter.
The company also reported an increase in net income and earnings per share for the quarter. The results were welcomed by investors, who remained hopeful that PROTO LABS would continue to deliver strong performance in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Proto Labs. More…
| Total Revenues | Net Income | Net Margin |
| 485.45 | -108.84 | -7.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Proto Labs. More…
| Operations | Investing | Financing |
| 62.91 | 1.24 | -52.77 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Proto Labs. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 777.21 | 94.53 | 26.05 |
Key Ratios Snapshot
Some of the financial key ratios for Proto Labs are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.5% | -36.8% | 3.7% |
| FCF Margin | ROE | ROA |
| 8.3% | 1.7% | 1.5% |
Analysis
As GoodWhale, we have conducted an analysis of PROTO LABS‘s financials. According to our Star Chart, PROTO LABS has a very high health score of 10/10, indicating that its cashflows and debt are able to sustain future operations even in times of crisis. We classified PROTO LABS as an ‘elephant’ which is a company that is rich in assets after deducting off its liabilities. While PROTO LABS is strong in assets, it is only medium in terms of profitability and weak in dividend and growth. Investors looking for a company with an impressive balance sheet and good prospects for long-term sustainability might be interested in investing in PROTO LABS. Investors looking for a higher dividend yield or higher growth potential may not find the company appealing. More…
Peers
Its primary competitors are J Pond Precision Technology Co Ltd, Dongguan Chitwing Technology Co Ltd, and Lucky Harvest Co Ltd. All of these companies offer machining services that create parts from 3D computer-aided design, or “CAD” files.
– J Pond Precision Technology Co Ltd ($SZSE:301326)
Pond Precision Technology Co Ltd is a market leading manufacturer of high precision engineering products and solutions. The company has a strong reputation for quality and innovation, and is widely respected within the industry. Pond Precision Technology Co Ltd has a market cap of 3.01B as of 2022, a Return on Equity of 6.21%. The company’s products are used in a wide range of industries, including aerospace, automotive, medical, and electronics. Pond Precision Technology Co Ltd is headquartered in Shenzhen, China.
– Dongguan Chitwing Technology Co Ltd ($SZSE:002855)
Dongguan Chitwing Technology Co Ltd is a Chinese company that manufactures and sells electronic cigarettes and other vaping products. The company has a market cap of 2.24 billion as of 2022 and a return on equity of -16.31%. Dongguan Chitwing Technology Co Ltd is a publicly traded company on the Shenzhen Stock Exchange.
– Lucky Harvest Co Ltd ($SZSE:002965)
Lucky Harvest Co Ltd is a publicly traded company with a market capitalization of 9.54 billion as of 2022. The company has a return on equity of 6.74%. Lucky Harvest Co Ltd is engaged in the business of agriculture and food production. The company operates in China, Hong Kong, and Taiwan.
Summary
PROTO LABS reported a 3.7% decrease in total revenue and a decrease in net income to -$0.38 million for the second quarter of 2023, ending on June 30, compared to the same period last year. This drop caused their stock to drop on the same day. Investors should be cautious when considering PROTO LABS, as they may face further losses in the near future. However, the company’s past performance and other factors must be taken into account before making any decisions about investing.
