3D Printing Financials: 3D Systems Restructuring to Save ~$50M by Q4 2024 – 3DPrint.com

3D Systems, (NYSE DDD) announced a restructuring plan to streamline the company’s operations. The results of the third quarter are also being revealed. This announcement reflects not only the company’s current standing but also speaks to broader trends and maneuvers that have defined the 3D printing industry throughout the year.

The company’s strategic restructuring is aimed at improving efficiency and generating annualized savings between $45 and $55 millions by the end 2024. Central to this restructuring is the intent to “rationalize headcount.” This could mean reducing, reallocating, or potentially increasing employees in some areas. Additionally, by aiming to rationalize “geographic locations in all functions across the company,” the firm could indicate plans to evaluate and merge its various physical locations, ensuring more streamlined operations across all departments.

Industry Dynamics

This isn’t the first time we’ve heard about a restructuring initiative from 3D Systems. Jeffrey Graves was appointed CEO in May of 2020. He rolled out a plan that included four phases to reshape 3D Systems. By August 2020, amidst the pandemic, he shifted the company’s focus onto two key areas, healthcare and industrial, letting go of parts of the business that didn’t fit this vision. In addition, he made the difficult decision to cut the workforce by 20 percent and set the goal of saving $100 million. Graves announced that 3D Systems would be taking another step forward in its ongoing restructuring by 2023.

3D Systems President and CEO Dr. Jeffrey Graves.

Jeffrey Graves is the President and Chief Executive Officer of 3D Systems. Image courtesy 3D Systems.

While seeking to cut costs, the company stresses that it won’t compromise on customer service or delivery reliability. The company is keeping an eye on the future. They plan to release new materials and printers by 2024. These actions aim to not only achieve immediate profitability, but also position the company in order to grow long-term on a global market that is rapidly expanding.

This move could be a response for the dynamic changes of 2023. Stratasys is the leading 3D printer (Nasdaq SSYS). 3D Systems has attempted to acquire it several times. Though Stratasys rejected 3D Systems’ offer, the move highlighted the aggressive strategy 3D Systems was eager to adopt.

Stratasys’ 2023 saga offers crucial context. The year began with Nano Dimension’s (Nasdaq: NNDM) acquisition bid. Despite Stratasys’ rejections, Nano Dimension persisted, even raising their final offer. The back-and forth culminated when Stratasys announced a merger agreement, only to cancel it because of shareholder disagreement. 3D Systems then made an unsolicited offer, which was also rejected. Stratasys’ shares dropped due to the chaotic events. With Stratasys’ strategic alternatives announcement still pending and their third-quarter earnings release on the horizon, the sector remains tense.

Earnings forecast

3D Systems expects to generate revenues between $123 and $124,000 million in the third quarter 2023. Comparing these values to 2022, it appears that there is a decline in the market, primarily due to continued weakness in the printer demand. The company anticipates that fourth-quarter revenue will increase on a consistent basis in line with seasonality, but full-year revenues for 2023 will be lower than expected. Due to this, and the uncertainty that continues in the macroeconomic, geopolitical and economic environment, the company is withdrawing its full-year financial guidance 2023. It had previously projected revenues for the full year 2023 between $525 and $545 millions.

Shedding light on the statement, Troy Jensen, Managing Director Senior Research Analyst at Cantor Fitzgerald, says 3D Systems negatively preannounced Q3 results and is no longer endorsing their prior 2023 guidance because “the market remains soft.”

“We believe the high-interest rate environment and softening economy have continued to extend sales cycles and given customers a reason to defer purchase decisions. These results were consistent with our survey. The hardware (printer) market continues to be the most challenging, but materials and service bureau demand appears to be more in line with channel expectations,” states Jensen.

3D Systems headquarters.

3D Systems Headquarters. Image courtesy 3D Systems.


With the Stratasys failed acquisition backdrop, 3D Systems’ early results could be considered a strategic step to help manage market speculations. These numbers can help investors make decisions and avoid sudden price changes. 3D Systems is making strategic moves to adapt to a rapidly changing landscape. When viewed in light of 2023’s industry dynamics, its preliminary results and restructuring initiative show a company attempting to bolster its position amid the turbulence in the sector.

Notably, 3D Systems is still riding high on recent news: the company’s founder, Charles “Chuck” Hull, was recently honored with the prestigious National Medal of Technology and Innovation. Hull, through his groundbreaking invention of stereolithography paved the path for a whole new industry. Often hailed as the “Father of 3D Printing,” Hull’s visionary contribution not only streamlined production processes but also democratized design and manufacturing, enabling big and small innovators to bring their visions to life like never before.

Investors and industry watchers should mark November 8, 2023 in their calendars, as this is when 3D Systems will announce its financial results and restructuring plans for the entire quarter. This is a momentous occasion, given the turbulent year of 2023 for 3D printing.

3D Systems CEO Jeff Graves will be participating in 3DPrint.com’s AM Investment Strategies, a free, online roundtable presented by Additive Manufacturing Research and Cantor Fitzgerald on November 2, 2023, just a week before the start of Formnext 2023. Also participating will be Yoav Zeif, CEO of Stratasys; Benny Buller, CEO of Velo3D; Arno Held, Managing Partner at AM Ventures; Scott Dunham, Executive Vice President of Research at AMR; Max Lobovsky, CEO of Formlabs. Troy Jensen will moderate the discussion. He is a Managing Director of Cantor Fitzgerald.

Disclaimer: No Investment Advice

You should not interpret any of the information contained in this article as financial, legal, tax or investment advice. This article does not constitute a recommendation, endorsement or offer to buy or sell securities or financial instruments by the author in this jurisdiction or in any other jurisdiction where such solicitation or offering would be illegal under securities laws. This article contains general information that does not take into account the specific circumstances or risk profile of an individual or company. It should not be considered professional advice.

my frnds hot mom originalhindiporn.mobi nakedgirls
سكس مصرى فلاحة bombaporno.com افلام سكس المانى
xxnxindan porndad.mobi sexy video whatsapp
سكس مصرى شديد justporno.pro افلام سكس قديمه طويله
aunty videos xvideos bdsmporntrends.com indian marathi blue film
www xxx indiyan com doodhwali.net mae whitman boyfriend
malyalam xxx video pornpakistani.com aunty pussy
puuku indianfuck.org xnxx lite
hindi sexy movie hindi waplo.info kajol xnxx
sex karne ke video hqtube.mobi www.happy porn.com
marrage night zaporn.mobi desixxvedio
tamilsexyfilm momandboyporn.net malayaleesex
newly married porn xvideostube.mobi sexaunty
south porn star bravosex.mobi movie bangladeshi
www . xvideo.com pornostorage.net www.3gp king.com