Proto Labs (NYSE:PRLB) stock dropped more than 18 percent after the digital manufacturing service provider reported third-quarter earnings that missed Wall Street’s expectations.
Maple Plain, Minnesota-based Proto Labs this morning reported earnings of $4.8 million (or 17¢ per share) off sales of $125.3 million. That’s a 67% decrease from Q3 2020’s earnings of $14.7 million (55¢ per share) off sales of $107.5 million.
Adjusted to exclude one-time items, earnings per share were 35¢, or 8¢ below Wall Street’s consensus forecast, where analysts were looking for adjusted EPS of 43¢ on sales of $127.3 million.