Hologic Earnings: Here’s Why Investors are Selling Shares Now
Hologic Inc. (NASDAQ:HOLX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.54%.
Hologic Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8.57% to $0.38 in the quarter versus EPS of $0.35 in the year-earlier quarter.
Revenue: Rose 33.15% to $626.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hologic Inc. reported adjusted EPS income of $0.38 per share. By that measure, the company beat the mean analyst estimate of $0.37. It missed the average revenue estimate of $626.84 million.
Quoting Management: “We are pleased our third quarter revenues were in-line with and our EPS exceeded guidance. Although we have lowered expectations for the remainder of the fiscal year, I am confident we have the necessary platforms and breadth of assets to drive organic growth and deliver strong profitability,” said Jack Cumming, President and Chief Executive Officer. “We are committed to improving our performance and execution in order to capitalize on the opportunities in the changing market landscape and position Hologic for success. Our customers worldwide are embracing our 3D breast tomosynthesis technology, and we continue to extend our market leadership position in molecular diagnostics. We are focused on strategies that will allow us to return capital to our shareholders, while still capitalizing on the many opportunities that lie ahead. We are very well positioned to deliver enhanced value for our customers, patients and shareholders.”
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