Why 3D Systems Stock Is Plummeting Today
3D Systems (NYSE: DDD) stock is plunging today following the publication of the company's preliminary third-quarter results and update. The 3D-printing and engineering specialist's share price was down 22.5% as of 11:45 a.m. ET.
After the market closed yesterday, 3D Systems released preliminary Q3 sales results. In addition to the revenue preview, the company also announced that it would be delaying the filing of its quarterly 10-Q report with the Securities and Exchange Commission (SEC).
3D Systems expects to record sales of roughly $112.9 million in the third quarter. If that estimate winds up matching actual performance for the period, sales will decline roughly 8.8% compared to Q3 2023. Wall Street had already anticipated an annual sales decline in the quarter, but the company's forecast fell short of the average analyst estimate's call for sales of approximately $115.7 million in the period.
Source Fool.com
