What To Expect From UFP Technologies’s (UFPT) Q3 Earnings

Medical products company UFP Technologies (NASDAQ:UFPT) will be announcing earnings results this Monday after market close. Here’s what to look for.

UFP Technologies met analysts’ revenue expectations last quarter, reporting revenues of $151.2 million, up 37.2% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but revenue in line with analysts’ estimates.

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

This quarter, analysts are expecting UFP Technologies’s revenue to grow 3% year on year to $149.6 million, slowing from the 44% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.17 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. UFP Technologies has only missed Wall Street’s revenue estimates once since going public and has exceeded top-line expectations by 2.8% on average.

Looking at UFP Technologies’s peers in the drug development inputs & services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Medpace delivered year-on-year revenue growth of 23.7%, beating analysts’ expectations by 2.7%, and West Pharmaceutical Services reported revenues up 7.7%, topping estimates by 2.1%. Medpace traded up 8.9% following the results while West Pharmaceutical Services was also up 7.5%.

Read our full analysis of Medpace’s results here and West Pharmaceutical Services’s results here.

Investors in the drug development inputs & services segment have had steady hands going into earnings, with share prices flat over the last month. UFP Technologies’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $329.50 (compared to the current share price of $196.60).

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