By Elias Schisgall

Shares of IPG Photonics surged after the company's profit jumped in the fourth quarter on double-digit revenue growth.

The stock was up 28% to $141.80 midday Thursday after hitting a 52-week high of $143.75 earlier in the session. Shares have more than doubled in value in the past year.

The laser-technology company on Thursday recorded a profit of $13.3 million, or 31 cents a share, up from a profit of $7.82 million, or 18 cents a share, a year earlier. Analysts were expecting 19 cents a share, according to FactSet.

On an adjusted basis, the company logged earnings of 46 cents a share.

Sales rose 17% to $274.5 million, up from $234.3 million a year prior. Analysts were expecting $249.5 million in revenue.

Chief Executive Officer Mark Gitin said the company's revenue climb was driven by manufacturing growth and a stabilization of industrial demand, which he said was continuing into the first quarter.

"We are seeing signs of improved industrial activity as the U.S. continues to strengthen and demand across Asia remains resilient, balanced against a more cautious outlook in parts of Europe and some lingering macroeconomic uncertainty," Gitin said.

For the current first quarter, the company is expecting revenue of between $235 million and $265 million. Analysts had been expecting $244.8 million prior to the earnings release, and are now targeting $243.4 million.

IPG is forecasting first-quarter adjusted earnings of between 10 cents and 40 cents a share.

The company also said its board of directors had authorized a new stock buyback program of up to $100 million.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

February 12, 2026 12:10 ET (17:10 GMT)

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