By Dean Seal
Shares of 3D Systems tumbled after the company said uncertainty around tariffs forced its customers to defer their capital investments, leading to a weak first quarter and withdrawn full-year guidance.
The stock was down 26% at $1.89 in premarket trading. Shares were changing hands at $3.73 this time a year ago.
The Rock Hill, S.C., 3D-printing company reported after the bell on Monday that revenue fell 8.2% to $94.5 million in the first three months of the year, missing analyst estimates for $99.5 million, according to FactSet.
"Many customers are delaying their capital investments in order to get greater clarity around potential tariff impacts on their manufacturing and distribution strategies," Chief Executive Jeffrey Graves said. Ongoing geopolitical uncertainty and broad economic pressure have been a headwind as well, he said.
The company said its consumer-facing and service-bureau-related end markets have seen the most weakness in near-term capital spending.
3D Systems logged a first-quarter loss of $37 million, or 28 cents a share, compared with a loss of $16 million, or 12 cents a share, in the same quarter a year earlier. The adjusted loss was 21 cents a share. Analysts polled by FactSet had been expecting an adjusted loss of 14 cents a share.
The company also said it is withdrawing its full-year outlook due to risk of protracted weakness in customer spending.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 13, 2025 08:50 ET (12:50 GMT)
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