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%.
Hologic Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.06% to $0.35 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 31.4% to $619.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hologic Inc. reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.34. It missed the average revenue estimate of $639.44 million.
Quoting Management: “The fundamental long-term revenue growth drivers of our business remain strong,” said Rob Cascella, President and Chief Executive Officer. “Adoption of our 3D mammography is accelerating with a growing backlog of sales orders in our Breast Health business. The Gen-Probe acquisition has greatly strengthened our Diagnostics business, and we are seeing increasing numbers of Diagnostics account conversions and competitive wins.”
Key Stats (on next page)…