Repligen Earnings: Here’s Why the Stock is Up Now
Repligen Corporation (NASDAQ:RGEN) delivered a profit 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 up 1.16%.
Repligen Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.14 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Rose 12.76% to $17.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Repligen Corporation reported adjusted EPS income of $0.14 per share. By that measure, the company beat the mean analyst estimate of $0.1. It beat the average revenue estimate of $15.97 million.
Quoting Management: “Strong demand for Protein A ligands and a substantial increase in sales of our OPUS(NYSE:R) pre-packed chromatography columns were key drivers in achieving record bioprocessing product sales during the second quarter,” said Walter C. Herlihy, Ph.D., President and CEO of Repligen. “Product margin gains reflect the impact of cost reductions at Repligen Sweden AB as well as improved manufacturing capacity utilization tied to higher order volumes and increased production.”
Key Stats (on next page)…
Revenue increased 6.32% from $16.46 million in the previous quarter. EPS increased 100% from $0.07 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 profit of $0.14 to a profit $0.13. For the current year, the average estimate is a profit of $0.56, which is the same with that ninety days ago.
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