PTC Q3 Profit Falls 16% on 6.8% Revenue Decline, Guides Q4 Below Street
PTC sits 22% above its 52-week low of $108.5.
Summary
PTC's fiscal Q3 GAAP earnings dropped to $118.8M ($1.03/share) from $141.3M ($1.17/share) a year ago, while revenue fell 6.8% to $600M. Adjusted EPS of $1.58 missed the $1.65 consensus. The company guided Q4 EPS to $1.63-$2.21 on revenue of $630M-$690M, both below Street estimates. This follows a strong Q2 beat and raised guidance in May, making the Q3 miss and soft Q4 outlook a sharp reversal. The $525M buyback disclosed in the concurrent 8-K provides some support, but the top-line contraction and cautious guidance raise concerns about demand. Full-year revenue guidance of $2.69B-$2.75B implies a sequential ramp that may be optimistic given the Q3 shortfall.
At the time of this announcement, PTC was trading at $132.45 on NASDAQ in the Technology sector, with a market capitalization of approximately $15.3B. The 52-week trading range was $108.50 to $219.69. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.