Exact Sciences Corporation (NASDAQ:EXAS) had a loss and beat 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. Shares are down 2.57%.
Exact Sciences Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.17 in the quarter versus EPS of $-0.19 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 $0.17 per share. By that measure, the company beat the mean analyst estimate of $-0.20. It beat the average revenue estimate of $1.02 million.
Quoting Management: “We are very pleased to have concluded our DeeP-C pivotal clinical trial and announced strong preliminary, top-line trial results,” said Kevin T. Conroy, the company’s president and chief executive. “We are extremely pleased with Cologuard’s achievement of superiority to the fecal immunochemical test or FIT for both cancer and pre-cancer sensitivity. We intend to seek FDA approval for claims of superiority over the FIT test for both cancer and pre-cancerous polyp detection.”
Key Stats (on next page)…
Revenue was the same at $1.04 million as the previous quarter. EPS increased to $-0.17 in the quarter versus EPS of $-0.22 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.17 to a loss $0.18. For the current year, the average estimate has moved down from a loss of $0.68 to a loss of $0.77 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)