Cognex Corporation (NASDAQ:CGNX) Q4 2023 Earnings Call Transcript

Rob Willett: Yes. Well, I should say that we have a healthy – a pretty significant EV battery business we’re building over the last two years. We see some nice growth for that. So my comment was really a lot about the funnel and the opportunities that you’re seeing, which have grown hugely, I would say, over the last 12 to 18 months. And plants are breaking ground. And generally, with machine vision, we tend to be something that’s pretty late in the cycle in terms of when it’s purchased and installed. So my comment was really around that. And so, we do expect – we’ve planned, and expect to see very healthy growth in that business this year. And then what potentially could become a problem, is if projects get delayed, they can get delayed in semi and EV, because execution is slow, right?

We’ve seen that, right? Can’t get labor, can’t get the technical expertise that’s needed, to get these plants launched on time and then political issues. I think, I definitely see concern about whether changes in Europe and America, are going to go on supporting the level of investment that, was sort of touted over the last year or two. So those are some of the uncertainties, but the trend and the opportunity, and the value of machine vision is clearly there.

Katie Fleischer: Okay. Helpful. Thank you.

Operator: Thank you. At this time, I would like to turn the floor back over to Mr. Willett for closing comments.

Rob Willett: All right. Thank you so much. Thank you for joining us this morning, and we look forward to speaking with you again on next quarter’s call.

Operator: Ladies and gentlemen, thank you for your participation and interest in Cognex. This concludes today’s event. You may disconnect your lines or log off the webcast at this time, and enjoy the rest of your day.