IPG Photonics Corporation (NASDAQ:IPGP) Q2 2024 Earnings Conference Call July 30, 2024 10:00 AM ET

Company Participants

Eugene Fedotoff - Senior Director, Investor Relations
Mark Gitin - Chief Executive Officer
Tim Mammen - Senior Vice President & Chief Financial Officer

Conference Call Participants

Jim Ricchiuti - Needham & Company
Ruben Roy - Stifel
Keith Housum - Northcoast Research
Michael Feniger - Bank of America
Mark Miller - Benchmark

Operator

Good morning, and welcome to IPG Photonics’ Second Quarter 2024 Conference Call. Today's call is being recorded and webcast.

At this time, I'd like to turn the call over to Eugene Fedotoff, IPG's Senior Director, Investor Relations for introductions. Please go ahead with your conference.

Eugene Fedotoff

Thank you and good morning, everyone. With me today is IPG Photonics CEO, Dr. Mark Gitin; and Senior Vice President and CFO, Tim Mammen.

Let me remind you that statement made during the course of this call that discuss management’s or the company's intentions, expectations, or predictions of the future are forward-looking statements. These forward-looking statements are subject to the risks and uncertainties that could cause the company's actual results to differ materially from those projected in such forward-looking statements. These risks and uncertainties are detailed in IPG Photonics' Form 10-K for the period ended December 31, 2023, and our reports on file with the Securities and Exchange Commission.

Copies of these filings may be obtained by visiting the Investors section of IPG's website or on the SEC's website directly. Any forward-looking statements made on this call are the company's expectations or predictions as of today, July 30, 2024 only, and the company assumes no obligation to publicly release any updates or revisions to any such statements.

For additional details on our reported results, please refer to the earnings press release, earnings call presentation, and the financial data workbook posted on the Investor Relations website. We will also post these prepared remarks on our website after this call.

MD&A

With that, I'll now turn the call over to Mark.

Mark Gitin

Good morning, everyone. I'm excited to be here with you on my first earnings call as CEO of IPG Photonics. I look forward to meeting many of you and to talking more about our story and our plans at IPG.

Before diving into our second quarter performance, I'd like to spend a moment on my background, why I took this role and what I've been focusing on since I joined just over seven weeks ago. For the past 35 years, have been actively involved with lasers and laser applications, leading different functions at coherent and the Photonics Solutions Division at MKS Instruments. I joined MKS to integrate the Newport acquisition and significantly improve the performance of the business over five years.