The ExOne Company just became the ex-guidance company. Along with its earnings – only $10.7 million in revenue and a loss at -$0.22 in earnings (losses) per share, ExOne guided 2014 revenues down to a range of $55 million to $60 million. Thomson Reuters was calling for revenues of just over $61.5 million – and ExOne’s market cap was almost $630 million at the close for a multiple of 10-times expected revenues.
ExOne shares had gotten ahead of reality, because the stock had risen to $43 from under $40 in recent days. Shares dropped almost 10% to $39.15 in the after-hours session on Thursday.
The move is hurting 3D printing companies. 24/7 Wall St. would just point out that the warnings had already started.
3D Systems Corp. (NYSE: DDD) was down another 1.3% at $61.82 in the after-hours, after closing lower by 0.5% on Wednesday. We had just seen a large amount of CEO and insider selling, and now we have another peer warning. Just keep in mind that ExOne is one-tenth the size of 3D Systems in market cap.
Stratasys Ltd. (NASDAQ: SSYS) was down almost 1% on Wednesday, and the stock fell in sympathy by another 1.5% to $114.50 in the after-hours after the ExOne news. While its market cap is lower than 3D Systems’ at $5.7 billion, Stratasys has held up the best versus 3D printing companies with a pullback of “only” 16% from its recent highs.
Thursday should be exciting in 3D printing.
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