Genomics company Pacific Biosciences of California (NASDAQ: PACB) will be reporting results this Wednesday after market close. Here’s what to expect.
PacBio beat analysts’ revenue expectations by 7.6% last quarter, reporting revenues of $39.77 million, up 10.4% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is PacBio a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting PacBio’s revenue to be flat year on year at $40.24 million, improving from the 28.2% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.14 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. PacBio has missed Wall Street’s revenue estimates four times over the last two years.
Looking at PacBio’s peers in the life sciences tools & services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Illumina posted flat year-on-year revenue, beating analysts’ expectations by 1.8%, and Medpace reported revenues up 23.7%, topping estimates by 2.7%. Illumina traded up 24.7% following the results while Medpace was also up 8.9%.
Read our full analysis of Illumina’s results here and Medpace’s results here.
Investors in the life sciences tools & services segment have had steady hands going into earnings, with share prices flat over the last month. PacBio is up 46.1% during the same time and is heading into earnings with an average analyst price target of $2.16 (compared to the current share price of $2.22).
P.S. STOP buying the AI stocks everyone’s talking about. The real money? It’s in the profitable pick nobody’s watching yet. We’ve identified an AI profit machine that’s flying under Wall Street’s radar—for now. We can’t keep this research public forever—grab your FREE copy before we pull it offline. GO HERE NOW.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
