IPG Photonics Corporation (NASDAQ:IPGP) Q3 2024 Earnings Conference Call October 29, 2024 10:00 AM ET

Company Participants

Eugene Fedotoff - Senior Director of Investor Relations
Mark Gitin - Chief Executive Officer
Timothy Mammen - Senior Vice President and Chief Financial Officer

Conference Call Participants

Ruben Roy - Stifel
Jim Rashidi - Needham & Company
Keith Housum - Northcoast Research Partners
Mark Miller - The Benchmark Company

Operator

Good morning, and welcome to IPG Photonics Third 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 statements 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 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 the SEC's website direct.

Any forward-looking statements made on this call are the company's expectations or predictions as of today, October 29, 2024, on day 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 our Investor Relations website. We will also post these prepared remarks on our website after this call.

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

Mark Gitin

Thank you, Gene, and good morning, everyone. Our third quarter revenue came in at the high end of our guidance, adjusted for the sale of our Russian operations in August. Adjusted earnings per share also came in at the top end of the guidance. We continue to focus on what we can control while navigating a demand environment that has remained muted. Since joining in June, I focused on diving deep into key aspects of IPG's business and strategy. We're making good progress executing on our key initiatives, and I'm even more excited about our future opportunities and when I joined.