Cognex Corp

CGNX

Equity

ISIN US1924221039 / Valor 919421

NASDAQ (2024-11-20)

USD 39.05-0.53%

Cognex Corp
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About company

Cognex Corp is a global leader in providing vision systems, software, sensors, and industrial barcode readers for manufacturing automation. With over 40 years of experience and a track record of selling over a million systems, the company has established itself as a key player in the industry. Their innovative technology helps companies improve efficiency, quality control, and productivity in their manufacturing processes.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Cognex Corp reported a revenue of $211 million for the first quarter of 2024, reflecting a 5% increase compared to the same quarter in 2023. This growth was primarily driven by improvements in the Logistics and Semiconductor markets, despite ongoing softness in the factory automation sector.

Operating Income

Operating income for Cognex Corp in Q1 2024 was $14 million, a 36% decrease from the $22 million reported in Q1 2023. However, it showed a 12% sequential increase from the previous quarter, Q4 2023, indicating some recovery in operational performance.

Net Income

Net income for Cognex Corp in the first quarter of 2024 was $12 million, which represents a significant 53% decline from the $25.6 million reported in Q1 2023. On a sequential basis, net income increased by 7% from Q4 2023, suggesting a gradual improvement in profitability.

Cash and Investments

As of March 31, 2024, Cognex Corp maintained a strong financial position with $557 million in cash and investments and no debt. During Q1 2024, the company generated $14 million in cash from operations, repurchased $9 million of its common stock, and paid $13 million in dividends to shareholders.

Financial Outlook

For the second quarter of 2024, Cognex Corp expects revenue to be between $230 million and $245 million, reflecting typical seasonality in consumer electronics. The company also anticipates an adjusted gross margin slightly above 70%, an improvement from the 68.8% reported in Q1 2024, as it moves beyond unfavorable one-time events.

Summarized from source with an LLMView Source

Key figures

4.86%1Y

-51.2%3Y

-22.1%5Y

Performance

38.9%1Y

39.9%3Y

41.9%5Y

Volatility