Proto Labs Inc. (PRLB), a leading digital manufacturing services provider, saw its stock surge over 30% in pre-market trading on November 1, 2024, after reporting impressive third-quarter results that surpassed analysts' expectations. The company also provided an optimistic outlook for the upcoming fourth quarter, fueling investor enthusiasm and driving significant buying interest.

For the third quarter of 2024, Proto Labs posted adjusted earnings per share of $0.47, comfortably exceeding the consensus estimate of $0.32. Revenue of $125.6 million also outperformed analysts' projections of $121.4 million, despite a 3.9% year-over-year decline. The company's resilient business model and disciplined approach were cited as key factors behind the solid financial performance amidst ongoing challenges in the manufacturing sector.

Looking ahead to the fourth quarter of 2024, Proto Labs forecasted revenue in the range of $115 million to $123 million, bracketing the consensus estimate of $120 million. The company's adjusted EPS guidance range of $0.28 to $0.36 also signaled potential growth compared to the third quarter's adjusted EPS of $0.29. This upbeat outlook, coupled with the better-than-expected third-quarter results, resonated positively with investors, driving the stock's substantial pre-market rally.