Shares of 3D Systems (NYSE: DDD) fell 11.7% in Monday's after-hours trading session, following the 3D printing company's release of its first-quarter 2023 results. The stock's decline is largely attributable to the quarter's revenue and adjusted earnings missing the analyst consensus estimates. 

As to 2023 guidance, management reiterated its annual outlook for revenue and free cash flow and increased its expectation for the profitability metric that it provides. However, absent the upcoming layoffs announced on Monday, it seems highly unlikely that management would have raised its guidance for the profitability metric. These layoffs will reduce costs and, thus, should boost earnings. 

3D Systems' stock performance on Tuesday will likely not only be influenced by the earnings report, but also by information that management shares on the analyst earnings call. This call is scheduled for Tuesday at 8:30 a.m. ET. 

Continue reading

Source Fool.com