Revolutionizing Capabilities: PRLB Introduces High-Tech HPS
Proto Labs, Inc. just unveiled Axtra3D Hybrid PhotoSynthesis technology, a game-changer that expands its 3D printing prowess. This launch isn’t just a run-of-the-mill upgrade; it’s a strategic move to cater to customer demands more efficiently and dive deeper into production realms.
Incorporating a precision laser and a cutting-edge digital light processing system, HPS captures images of both internal and external part structures simultaneously. This innovative dual approach tackles previous 3D printing constraints head-on. HPS applications span from production-grade components with high throughput parts to precision-crafted prototypes requiring top-notch surface finishes.
Diversifying Materials for Enhanced Potential
Proto Labs hits the ground running with two groundbreaking HPS materials in its arsenal – Tough Black (Loctite Henkel 3843) and Ceramic-filled (BASF 3280).
While Tough Black flaunts remarkable strength and outstanding impact resilience, Ceramic-filled caters to stiff substances commonly used in tooling and molding. These materials don’t just fill the void; they enrich Proto Labs’ already advanced photopolymer lineup, offering a wealth of options for Carbon DLS projects.
Strong Financial Performance in Q2 Elevates Optimism
The second quarter of 2024 was a sweet victory for Proto Labs as it boasted a 3.3% year-over-year revenue growth, reaching $126 million. Meeting the Zacks Consensus Estimate, the company reported earnings per share of 18 cents, a stark contrast to the loss of 1 cent during the same period the previous year. These stellar numbers put Proto Labs firmly on the map.
While the industrial sector experienced a 16.6% decline, Proto Lab’s shares managed to defy the odds with a 0.4% increase over the past year, solidifying its position in the market.
Image Source: Zacks Investment Research
Rating and Outlook: PRLB and Top Peers in the Industrial Sector
Currently boasting a Zacks Rank #2 (Buy), Proto Labs is on a roll.
Peering into the industrial crystal ball, we find other stars shining brightly. Crane Company, Flowserve Corporation, and Cintas Corporation, all locking in a Zacks Rank #2 at present.
Notably, Crane’s 2024 earnings per share are estimated at $5.07, with a robust year-over-year growth. Meanwhile, Flowserve is on an upward trajectory with a projected earnings growth of 31.6% in 2024. Cintas Corporation is holding steady with an anticipated earnings growth in the same period.