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MINNEAPOLIS - Proto Labs, Inc. (NYSE: PRLB), a global leader in digital manufacturing services, announced today the appointment of Suresh Krishna as its new President and Chief Executive Officer, effective immediately. Krishna, who previously led Northern Tool + Equipment, replaces Rob Bodor and joins the Board of Directors. Bodor will continue to serve the company in a consulting capacity to ensure a smooth transition. The new CEO inherits a company with strong financial fundamentals, as InvestingPro data shows Proto Labs maintains more cash than debt on its balance sheet and boasts a healthy current ratio of 3.13x.
The company has reaffirmed its financial outlook for the second quarter of 2025, projecting revenues between $124 million and $132 million, with diluted net income per share expected to be in the range of $0.11 to $0.19, and non-GAAP diluted net income per share forecasted between $0.30 and $0.38. According to InvestingPro analysis, three analysts have recently revised their earnings expectations upward, and the company’s net income is expected to grow this year. Based on InvestingPro’s Fair Value assessment, the stock currently appears to be trading below its intrinsic value.
Rainer Gawlick, Protolabs’ Board Chairman, expressed confidence in Krishna’s ability to guide the company into its next growth phase, citing his 30-year experience in overseeing profitable growth and shareholder value creation in the manufacturing sector. Krishna’s appointment is anticipated to enhance customer loyalty, execute production expansion initiatives, and drive profitable growth through Protolabs’ unique digital manufacturing model. The company’s strong market position is reflected in its financial metrics, with a gross profit margin of 44.36% and robust free cash flow generation. For deeper insights into Proto Labs’ financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with detailed analysis and actionable intelligence.
Krishna expressed his enthusiasm for joining Protolabs, emphasizing the company’s potential for expansion and its competitive edge in the $100 billion digital manufacturing market. He highlighted Protolabs’ combination of in-house digital manufacturing and a network of manufacturing partners as a key advantage.
Bodor reflected on his tenure, praising the company’s advances in prototype manufacturing and its commitment to quality and customer service.
This leadership transition and financial outlook are based on a press release statement from Proto Labs, Inc. The company’s forward-looking statements are subject to risks and uncertainties, and actual results may differ materially from those projected. The non-GAAP financial measures provided are intended to offer additional insight into the company’s expected financial results and should not be considered a substitute for financial measures calculated in accordance with GAAP.
In other recent news, Proto Labs released its first-quarter 2025 financial results, reporting revenues of $126.2 million, which exceeded expectations. This figure marked a slight 1.3% decrease from the previous year but was above the forecasted $124.51 million. The company posted an adjusted earnings per share (EPS) of $0.33, slightly below the anticipated $0.34. Despite the minor EPS miss, Benchmark analysts maintained their Buy rating on Proto Labs with a price target of $45, citing the company’s ability to outperform revenue expectations. Proto Labs’ management provided guidance for the second quarter of 2025, projecting revenues between $124 million and $132 million and adjusted EPS between $0.30 and $0.38. The company has been expanding its service offerings, contributing to a 10% increase in Network sales and a 2.5% rise in average revenue per customer. Analysts from William Blair and Craig Hallum Capital Group noted the company’s strong performance in the aerospace and defense sectors. Proto Labs continues to invest in manufacturing capabilities and aims to increase the number of customers utilizing its combined manufacturing offer.
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