ExOne (XONE) Tops Q1 EPS by 5c, Revenues Beat

ExOne (NASDAQ: XONE) reported Q1 EPS of ($0.22), $0.05 better than the analyst estimate of ($0.27). Revenue for the quarter came in at $13.4 million versus the consensus estimate of $11.73 million.

• Revenue of $13.4 million, up 40% over Q1 2019
• Record backlog of $33.8 million
• Cost reductions taken in anticipation of economic downturn from COVID-19

“Our strong backlog coming into the year and our new product introductions positioned us well for growth in the first quarter,” said John Hartner, ExOne CEO. “Despite initial effects of COVID-19 on our business, our execution performance was solid. Globally, our facilities continued to operate in support of our customers in critical industries and essential businesses, subject to social distancing and other procedures to keep our employees safe.”

He continued, “However, conditions clearly changed in March. We previously anticipated that growth would continue during 2020, but the COVID-19 pandemic has impacted shipping, travel and installation schedules, as well as the timing of customer capital investments. The uncertainty of our outlook caused by this situation prompted us to reduce our cost structure as we manage through these historic times.”

For earnings history and earnings-related data on ExOne (XONE) click here.

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