Life sciences company Azenta (NASDAQ: AZTA) will be reporting results this Tuesday after the bell. Here’s what investors should know.
Azenta missed analysts’ revenue expectations last quarter, reporting revenues of $144.8 million, flat year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EPS estimates.
Is Azenta a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Azenta’s revenue to grow 3.7% year on year, a reversal from the 16.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Azenta has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Azenta’s peers in the drug development inputs & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Fortrea’s revenues decreased 4.5% year on year, beating analysts’ expectations by 4.7%, and Medpace reported revenues up 17.2%, topping estimates by 2.6%. Fortrea traded down 7.8% following the results while Medpace was up 14.7%.
Read our full analysis of Fortrea’s results here and Medpace’s results here.
Investors in the drug development inputs & services segment have had steady hands going into earnings, with share prices flat over the last month. Azenta is up 9.6% during the same time and is heading into earnings with an average analyst price target of $27.80 (compared to the current share price of $28.13).
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