Bio-Reference Laboratories Earnings: Everything You Must Know Now
Bio-Reference Laboratories Inc. (NASDAQ:BRLI) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Bio-Reference Laboratories Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 24.24% to $0.41 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 8.02% to $176.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bio-Reference Laboratories Inc. reported adjusted EPS income of $0.41 per share. By that measure, the company met the mean analyst estimate of $0.41. It beat the average revenue estimate of $176.04 million.
Quoting Management: Marc D. Grodman, MD, CEO, commented: “Much has been reported with regard to the challenges that our industry has faced this year. There have been less business days early in the year, worse weather than the prior year, reimbursement issues emanating from CMS, and changes in the Blue Card Program. BioReference has responded to these challenges by posting its best ever quarter in both revenues and earnings. BioReference continues to innovate and provide superior service and support. BioReference has continued to provide solutions that have enabled providers to keep pace with emerging changes in the clinical landscape. We pay special note to the superb leadership that our GeneDx laboratory has provided, empowering and enabling all of our specialty services to excel. Thanks to the expertise and industry leadership we have engendered at GeneDx, our Women’s Health and Oncology laboratories have been able to establish solid positions in their respective areas of clinical medicine and we believe they are well positioned for continued growth and differentiation.”
Key Stats (on next page)…
Revenue increased 9.45% from $161.26 million in the previous quarter. EPS increased 32.26% from $0.31 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.52 and has not changed. For the current year, the average estimate is a profit of $1.78, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)