Life sciences company Azenta (NASDAQ: AZTA) will be reporting results tomorrow morning. Here’s what investors should know.
Azenta beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $147.5 million, up 4.1% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EPS estimates.
Is Azenta a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Azenta’s revenue to grow 3.1% year on year to $140.6 million, a reversal from the 8.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.07 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Azenta has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Azenta’s peers in the drug development inputs & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Medpace delivered year-on-year revenue growth of 9.3%, beating analysts’ expectations by 6%, and West Pharmaceutical Services reported flat revenue, topping estimates by 2%. Medpace traded down 2.1% following the results while West Pharmaceutical Services was also down 1.6%.
Read our full analysis of Medpace’s results here and West Pharmaceutical Services’s results here.
There has been positive sentiment among investors in the drug development inputs & services segment, with share prices up 4.4% on average over the last month. Azenta is down 10.1% during the same time and is heading into earnings with an average analyst price target of $51.60 (compared to the current share price of $26.17).
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