IPG Photonics Stock Plunges as Tariff Warning Overshadows Q1 Revenue Beat
IPG Photonics shares fell 29% to $87.38 after reporting higher quarterly sales but lower earnings and warning tariffs would keep squeezing margins. First-quarter revenue rose 17% to $265.5 million, but net income dropped to $1.6 million. Gross margin fell to 37.5%. IPG also settled all global patent litigation with TRUMPF Laser- und Systemtechnik SE.