Sarepta Therapeutics (NASDAQ:SRPT) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.97%.
Sarepta Therapeutics Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.46 in the quarter versus EPS of $0.35 in the year-earlier quarter.
Revenue: Decreased 73.24% to $3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sarepta Therapeutics reported adjusted EPS loss of $0.46 per share. By that measure, the company beat the mean analyst estimate of $-0.67. It missed the average revenue estimate of $5.08 million.
Quoting Management: “We are excited that the FDA is open to an NDA filing for our drug eteplirsen for the treatment of Duchenne muscular dystrophy and the organization is focused on all of the activities necessary for a successful NDA submission in the first half of next year,” said Chris Garabedian, president and chief executive officer of Sarepta Therapeutics. “The Sarepta team is planning for success as we continue activities related to our eteplirsen confirmatory study and our manufacturing scale up, while we begin pre-commercial activities to prepare for the potential approval of eteplirsen.”
Key Stats (on next page)…
Revenue decreased 32.89% from $4.47 million in the previous quarter. EPS increased to $-0.46 in the quarter versus EPS of $-1.32 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.79 to a loss $0.77. For the current year, the average estimate has moved down from a loss of $3.39 to a loss of $3.47 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)