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On May 21, 2025, FARO Technologies , Inc., a Florida-based company specializing in measuring and controlling devices, reported the results of its Annual Meeting of Shareholders. The company, whose stock has delivered an impressive 120.7% return over the past year and is currently trading near its 52-week high of $42.64, held the meeting to determine the future direction of its governance and strategic initiatives. According to InvestingPro analysis, FARO maintains a FAIR financial health score, with liquid assets exceeding short-term obligations.
Proposal 1 concerned the election of directors. Shareholders elected Moonhie Chin and Yuval Wasserman to serve three-year terms on the board, with votes for Chin tallying at 14,099,761 and votes for Wasserman at 14,156,194. Both directors will serve until the 2028 Annual Meeting of Shareholders.
Proposal 2 involved the ratification of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. The appointment was ratified with 16,235,891 votes in favor.
The compensation of the company’s named executive officers was the subject of Proposal 3. This non-binding, advisory proposal was approved by shareholders with 15,111,785 votes for the executive compensation package.
Proposal 4 sought approval for the Company’s 2022 Equity Incentive Plan, as Amended, which aimed to increase the number of shares reserved for issuance by 1,500,000. Shareholders approved the plan with 8,800,309 votes in favor.
These results reflect the decisions made by FARO Technologies’ shareholders regarding the company’s directorship, accounting oversight, executive compensation, and equity incentive plan. The company filed the outcomes as part of an 8-K submission with the Securities and Exchange Commission. InvestingPro data reveals that analysts expect FARO to return to profitability this year, with two analysts recently revising their earnings estimates upward. For deeper insights into FARO’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
This article is based on a press release statement.
In other recent news, Faro Technologies (NASDAQ:FARO) reported its first-quarter 2025 earnings, exceeding analyst expectations with an earnings per share (EPS) of $0.33, significantly above the forecasted $0.0922. The company’s revenue reached $82.9 million, slightly surpassing the expected $80.75 million. In light of these results, Craig-Hallum increased Faro’s stock target to $45, maintaining a Buy rating, while Needham also raised its price target to $38 but kept a Buy rating. AMETEK announced an acquisition of Faro Technologies at $44 per share, prompting Needham to downgrade Faro’s stock from Buy to Hold, considering the acquisition agreement and the current market valuation. The acquisition reflects an enterprise value to trailing twelve-month revenue multiple of 2.7 times and a TTM adjusted EBITDA multiple of 19.8 times. Despite the acquisition news, Craig-Hallum expressed confidence in Faro’s future earnings potential, highlighting the company’s strong management and growth drivers, such as new product introductions and expanded partnerships. Needham noted Faro’s improved financial performance under CEO Peter Lau, despite challenges from weak global Purchasing Managers’ Index data. Faro’s guidance for the second quarter projects revenue between $79 million and $87 million, with a non-GAAP EPS range of $0.20 to $0.40.
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