Fulgent Genetics Q1 2024 Adj EPS $(0.01) May Not Be Comparable To $(0.32) Estimate, Sales $64.485M Miss $65.363M Estimate
Portfolio Pulse from Benzinga Newsdesk
Fulgent Genetics (NASDAQ:FLGT) reported Q1 2024 adjusted EPS of $(0.01), significantly beating the $(0.32) estimate, and marking a 95.45% improvement from last year. However, their sales of $64.485M fell short of the $65.363M estimate, a 2.54% decrease from the previous year.
May 03, 2024 | 11:02 am
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POSITIVE IMPACT
Fulgent Genetics reported a significant beat on EPS estimates but missed on sales for Q1 2024, showing both strong earnings improvement and a slight revenue decline from the previous year.
The significant beat on EPS estimates is likely to be viewed positively by investors, indicating strong operational efficiency and cost management. However, the slight miss on sales estimates may temper enthusiasm, reflecting challenges in revenue growth. The overall impact is positive due to the substantial improvement in earnings, but the sales miss introduces a note of caution.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100