Quick Summary
Additional Context
The latest earnings reports from Xometry (Nasdaq: XMTR), Protolabs (NYSE: PRLB), and Lincoln Electric (Nasdaq: LECO) suggest manufacturers are still spending. All three companies reported solid results, although each tells a slightly different story about where the 3D printing market stands today.
Digital manufacturing platform Xometry and on-demand manufacturing company Protolabs both posted record quarterly revenue and raised expectations for the rest of the year. Meanwhile, Lincoln Electric, whose additive manufacturing (AM) business is much smaller but closely tied to industrial capital spending, also reported record sales and earnings.
Overall, the results show that manufacturers are still spending. But growth in 3D printing continues to look different from one company to another.