Late Wednesday, Cryoport Said It Expects Q2 FY23 Sales Of $56.5M-$57.5M, Down 11% At Midpoint Compared To Q2 FY22 Versus Consensus Of $67.4M
Portfolio Pulse from Benzinga Newsdesk
Cryoport announced its Q2 FY23 sales forecast of $56.5M-$57.5M, which is down 11% at midpoint compared to Q2 FY22 and below the consensus of $67.4M. The lower forecast is due to weaker global demand for capital equipment, clinical trial start delays, and slower client ramps.
July 13, 2023 | 8:41 am
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NEGATIVE IMPACT
Cryoport's lower than expected Q2 FY23 sales forecast could negatively impact its stock price in the short term.
Cryoport's sales forecast is significantly lower than the consensus, which could lead to a decrease in investor confidence and a potential drop in the stock price. The reasons for the lower forecast, including weaker global demand and clinical trial delays, are also concerning for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100