Repligen Q3 Results Top Estimates; Boosts FY23 Earnings Outlook
(RTTNews) - Life sciences company Repligen Corp. (RGEN) announced Tuesday third-quarter net income of $18.17 million or $0.32 per share, sharply down from $40.41 million or $0.71 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $0.23 per share, compared to $0.77 per share in the year-ago quarter.
Total revenues for the quarter decreased 30 percent to $141.19 billion from $200.74 billion in the same quarter last year.
On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share on revenues of $140.64 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2023, the company now projects earnings in a range of $1.26 to $1.32 per share and adjusted earnings in a range of $1.70 to $1.76 per share on revenues between $635 million and $645 million.
Previously, the company expected earnings in the range of $1.00 to $1.08 per share and adjusted earnings in the range of $1.72 to $1.80 per share on revenues between $635 million and $645 million.
The Street is looking for earnings of $1.74 per share on revenues of $645.78 million for the year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
European Shares Edge Lower Following US Tech Selloff
UK Inflation Hits 18-Month High
Asian Shares Mixed As Tech Stocks Track Declines In US Peers
Australian Dollar Falls Amid RBA Rate Cut Speculation
New Zealand Hints At More Interest Rate Cuts
NZ Dollar Slides As RBNZ Cuts Rate By 25 Bps
European Economic News Preview: UK Inflation Data Due
