Myriad Genetics Outruns Estimates Again
Myriad Genetics (NAS: MYGN) reported earnings on Jan. 31. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q2), Myriad Genetics beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly, and GAAP earnings per share increased significantly.
Margins dropped across the board.
Myriad Genetics logged revenue of $122.8 million. The 17 analysts polled by S&P Capital IQ expected to see revenue of $115.3 million. Sales were 22% higher than the prior-year quarter's $100.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
EPS came in at $0.33. The 16 earnings estimates compiled by S&P Capital IQ anticipated $0.31 per share. GAAP EPS of $0.33 for Q2 were 27% higher than the prior-year quarter's $0.26 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 86.9%, 110 basis points worse than the prior-year quarter. Operating margin was 37.0%, 140 basis points worse than the prior-year quarter. Net margin was 23.0%, 110 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $115.9 million. On the bottom line, the average EPS estimate is $0.32.
Next year's average estimate for revenue is $462.3 million. The average EPS estimate is $1.25.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 520 members out of 597 rating the stock outperform, and 77 members rating it underperform. Among 174 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 164 give Myriad Genetics a green thumbs-up, and 10 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Myriad Genetics is outperform, with an average price target of $25.43.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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