This Manufacturer's Earnings Reflect a Possible Looming Recession
Proto Labs (NYSE: PRLB) stock plunged 10.4% on Thursday after the quick-turn contract manufacturer released weak third-quarter results before the market opened. Shares are down 14.8% in 2019 through Friday, Oct. 25, versus the S&P 500's 22.5% return.
We can attribute the market's reaction to the Minneapolis area-based company's revenue falling short of Wall Street's consensus estimate, along with fourth-quarter guidance for both the top and bottom lines coming in lighter than analysts had expected. Management continues to characterize the global macroeconomic environment as "weak." (Whether the U.S. slips into a recession remains to be seen, but here are three stocks that should be recession-resistant.)
Here's how the quarter worked out for Proto Labs and its investors.
Source Fool.com
