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3D系统击败Q1 2021收入估算,股票飙升13%

美国3D打印机制造商3D系统(DDD) has comprehensively beaten Wall Street consensus estimates to report 8% revenue growth within its Q1 2021 financials.

During the course of Q1 2021, the firm generated revenue of $146 million, 8% more than the $136 million reported in Q1 2020, but still 8% short of the $157 million it made in Q1 2019. While 3D Systems’ revenue hasn’t quite returned to pre-pandemic levels, its first quarter earnings mean that it comfortably beat initial Wall Street estimates of $136.4 million.

分析师还预计,该公司在2021年第1季度将获得每股收益0.02美元,但它也将这些期望倒闭,报告的每股收益为0.15美元,这使其股票在下班后交易中涨幅13%。结果发布后,3D打印机制造商的股票Stratasys公司voxeljet上涨4%的股票,股价ExOnemaking similar gains of 3%.

3D系统’ 8% annual revenue growth during Q1 2021, was largely driven by increased demand within its Healthcare division, which brought in $72.5 million, 39% more than in Q1 2020. According to the firm’s CEO Dr. Jeffrey Graves, its strong medical performance has now positioned it well, to lead the technology into new applications moving forwards.

格雷夫斯说:“我比以往任何时候都更加相信,在改变可以为关键应用设计和制造组件的方式方面,从复杂的航空航天系统到电动汽车到人体,都将发挥关键作用。”“我们强大的财务绩效和资产负债表,再加上行业领先的技术和应用专业知识,将使我们能够领导这种转型。”

“我为我们团队在今年第一季度的表现感到自豪,并对我们的轨迹和公司的长期潜力感到兴奋。”

3D Systems的总部位于南卡罗来纳州洛克山。通过CBRE组照片。
3D系统’ revenue rose by 8% between Q1 2020 and Q1 2021. Photo via the CBRE Group.

3D系统’ Q1 2021 results

3D Systems广泛地报告了其在产品部门的收入,其中包括其3D打印机,软件和材料以及服务部门产生的任何收入,这些收入是通过其按需制造产品赚取的收入。

产品remained the firm’s highest earning division during Q1 2021, bringing in revenue of $94 million, representing an 18% increase compared to Q1 2020, and a more slight 2% rise on Q1 2019. 3D Systems attributed its growth in Product earnings to the performance of its medical and dental portfolio, as well as the “continued stabilization” of the global economy, which gradually re-opened over the quarter.

然而,尽管在2021年第一季度看到了更广泛的经济复苏,但该公司的服务收入从2020年第1季度的5600万美元下降到了5200万美元。该部门的性能差主要是由于3D Systems的工业销售下降了11%,尽管它说其工业收入实际上在2020年第1季度至2021年之间增长了1%剥离企业从方程式中删除。

总体而言,该公司的8%收入增长从其return to growth in Q4 2020和决定从策略上重新关注从2020年第2季度开始,其核心工业和医疗保健垂直领域。与第1季度第1季度的运营费用相比,3D Systems还设法将其在2021年第1季度的支出减少到6600万美元,同时将其毛利率从42.7%提高到44%。

“During my first year at 3D Systems, we established a clear strategic purpose,” explained Graves. “We laid out a four-stage plan to reach that goal and I am pleased that these efforts have contributed to impressive Q1 results. This combination of strong top line growth, profitability and cash generation distinguishes us in our industry.”

收入($) 2019年第1季度 Q1 2021 Variance (%) Q1 2020 Q1 2021 Variance (%)
产品 92m 94m +2 80m 94m +18
Services 60m 52m -13 56m 52m -7
全部的 152m 146m -4 136m 146m +8

A strategic refocus in action

3D Systems在第一季度的3D打印活动中明显地决定将其工业和医疗保健垂直行业加倍。该公司通过启动以吞吐量为中心进入工业FFF空间Roadrunner系统,这使它与Essentium和its高速挤压(HSE)平台。

在其他地方,该公司的技术已被部署在几种军事应用中。2021年3月,3D系统由Devcom Arlto develop a faster means of3D printing ground vehicle components, before working with亨廷顿·英格尔斯工业为了证实防腐蚀合金for naval applications.

该公司还在本季度投资了其生物打印技术。在其内部取得了“巨大进步”Print to Perfusion生物打印程序与联合治疗学2021年1月,3D系统此后已有获得的生物打印公司Alevi收取未公开的费用,作为加强其使再生医学成为未来收入来源的计划的一种手段。

同样,该公司最近推出了其生物相容性的能力图4刚性白色树脂和混合VSP上颌面外科指南. Although neither product was released in time to contribute any revenue during Q1, it’s anticipated that they will help drive 3D Systems’ continued Healthcare growth moving forwards.

An image of 3D Systems' new surgical guide attached to a skull
3D系统大量投资于在第1季度2021年扩大其医疗服务。图片通过3D系统图像。

Targeting double-digit growth

3D系统在即将到来的盈利电话会议之前尚未提供任何指导,但它设定了实现“持续两位数收入增长”的长期目标。该公司还将目光投向了50%的毛利润率以及20%的EBITDA,其强劲的现金余额使其具有很好的资金来资助这些目标。

As of March 31 2021, 3D Systems had no debt and cash on hand of $133 million, as well as an unused $100 million revolving credit facility, and although its balance was inflated by the $55 million divestiture ofCimatron电池冒险last year, the firm now has the capital necessary to invest in further potential growth opportunities in future.

格雷夫斯总结说:“在转型计划的初始阶段,我们的进步稳定,现在我们将重点放在计划的第四阶段,即投资于加速增长和盈利能力。”“我们最近宣布的对Allevi和添加剂作品的收购是实现我们长期目标的关键步骤。”

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特色图片显示3D Systems在南卡罗来纳州洛克山的总部。通过CBRE组的照片。