Categories Earnings, Other Industries

Earnings Preview: What to expect from AngioDynamics in Q1?

AngioDynamics Inc. (ANGO) is expected to post upbeat earnings during the first quarter as the medical device maker reins in on its expenses. However, net sales are anticipated to decline from last year.

The company’s bottom-line is expected to increase 50% to $0.18 per share for the first quarter, while the top-line will likely see a 1.7% dip to $84 million. Most analysts have recommended a “hold” rating on the stock with an average price target of $18.50.

The Peripheral Vascular and Vascular Access businesses are likely to experience continued softness during the first quarter. And the growth in the Oncology/Surgery business is not expected to overshadow the downtrend of other businesses.

In addition, the company will face a drop in the revenue from the US while the international market is likely to continue yielding growth. Meanwhile, investors are expecting AngioDynamics to report strong bottom-line results due to the management of costs and expenses.

For the recent fourth-quarter results, AngioDynamics swung to a profit from a loss last year, which included reserves for legal matters related to Department of Justice subpoenas. The Acculis recall was also attributed to the bottom line growth. Sales rose 1.6% on growth in the Angiographic Catheters, Fluid Management, and AngioVac product lines, as well as two of its Ablation Systems, Solero, and NanoKnife.

For the fiscal year 2019, the company had projected net sales in the range of $344 million to $349 million and adjusted EPS in the $0.82 to $0.86 range. Free cash flow was predicted to be between $38 million and $43 million, excluding about $12.5 million cash payment for legal matters.

Shares of AngioDynamics ended Wednesday’s regular session up 1.59% at $24.23 on the Nasdaq. The stock has risen over 35% for the past year and more than 45% for the year so far.

Most Popular

FDX Earnings: FedEx Q1 adjusted earnings drop; revenue up 5%

Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted

Key highlights from Darden Restaurants (DRI) Q1 2023 earnings results

Darden Restaurants, Inc. (NYSE:DRI) reported first quarter 2023 earnings results. Total sales increased 6.1% year-over-year to $2.4 billion, driven by blended same-restaurant sales growth of 4.2%. Net earnings amounted to

ACN Earnings: Key quarterly highlights from Accenture’s Q4 2022 financial results

Accenture (NYSE: ACN) reported fourth quarter 2022 earnings results today. Total revenues were $15.4 billion, up 15% year-over-year in US dollars and up 22.4% in local currency. Net income attributable

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top