Everything You Need To Know Ahead Of Earnings

Life sciences company Azenta (NASDAQ:AZTA) will be reporting results this Friday before the bell. Here’s what to look for.

Azenta missed analysts’ revenue expectations by 3.8% last quarter, reporting revenues of $143.9 million, flat year on year. It was a softer quarter for the company, with a significant miss of analysts’ revenue estimates.

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

This quarter, analysts are expecting Azenta’s revenue to grow 3.9% year on year to $156.7 million, a reversal from the 12.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.20 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 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 UFP Technologies reported revenues up 6.5%, topping estimates by 3.3%. Medpace traded up 9.1% following the results while UFP Technologies was also up 12.1%.

Read our full analysis of Medpace’s results here and UFP Technologies’s results here.

Investors in the drug development inputs & services segment have had fairly steady hands going into earnings, with share prices down 1.8% on average over the last month. Azenta is down 8.1% during the same time and is heading into earnings with an average analyst price target of $35.17 (compared to the current share price of $30.04).

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