Exact Sciences Earnings: Here’s Why Investors are Not Happy Now

Exact Sciences Corporation (NASDAQ:EXAS) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.7%.

Exact Sciences Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.19 in the quarter versus EPS of $-0.26 in the year-earlier quarter.

Revenue: Was the same at $1.04 million as the year-earlier quarter.

Actual vs. Wall St. Expectations: Exact Sciences Corporation reported adjusted EPS loss of $0.19 per share. By that measure, the company missed the mean analyst estimate of $-0.18. It beat the average revenue estimate of $1.02 million.

Quoting Management: “With the completion of Exact’s submission to the FDA for Cologuard, our colorectal cancer screening test, the company’s top priorities are commercial readiness and operational excellence,” said Kevin T. Conroy, the company’s president and CEO. “The entire team at Exact is focused on building a strong foundation from which we can launch Cologuard, pending FDA approval. All of us understand the potential impact of Cologuard and we look forward to bringing it to patients.”

Key Stats (on next page)…

Revenue was the same at $1.04 million as the previous quarter. EPS decreased to $-0.19 in the quarter versus EPS of $-0.17 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 loss of $0.19 and has not changed. For the current year, the average estimate has moved up from a loss of $0.77 to a loss of $0.73 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)