Everything You Need To Know Ahead Of Earnings

Diagnostic company Exact Sciences Corporation (NASDAQ:EXAS) will be announcing earnings results this Monday after market hours. Here’s what to expect.

Exact Sciences beat analysts’ revenue expectations by 4.9% last quarter, reporting revenues of $811.1 million, up 16% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.

Is Exact Sciences a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Exact Sciences’s revenue to grow 14.3% year on year to $810.2 million, improving from the 12.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.16 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. Exact Sciences has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.9% on average.

Looking at Exact Sciences’s peers in the biotechnology segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Incyte delivered year-on-year revenue growth of 20%, beating analysts’ expectations by 8.5%, and Regeneron reported flat revenue, topping estimates by 5.1%. Incyte traded down 3.2% following the results while Regeneron was up 11.7%.

Read our full analysis of Incyte’s results here and Regeneron’s results here.

Investors in the biotechnology segment have had steady hands going into earnings, with share prices flat over the last month. Exact Sciences is up 14.6% during the same time and is heading into earnings with an average analyst price target of $70.25 (compared to the current share price of $65).

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