Twist Bioscience Beats Q3 Earnings Forecast, Plans To Achieve 50% Gross Margin By Fiscal Year 2025
Portfolio Pulse from Vandana Singh
Twist Bioscience Corporation (NASDAQ: TWST) reported a third-quarter adjusted EPS loss of $(0.70), beating the consensus of $(0.77). The company also reported a 27.8% year-over-year increase in sales to $81.5 million, surpassing both the consensus and management guidance. Twist Bioscience raised its sales guidance for fiscal 2024 and expects to achieve a gross margin of over 50% by the end of fiscal 2025. Despite the positive earnings report, TWST stock was down 13.21% at $46.04.
August 02, 2024 | 2:01 pm
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Twist Bioscience reported better-than-expected Q3 earnings and raised its sales guidance for fiscal 2024. Despite these positive developments, the stock was down 13.21%.
Twist Bioscience's better-than-expected earnings and raised guidance are positive indicators for the company's future performance. However, the stock's decline suggests that investors may have had higher expectations or concerns about other aspects of the report.
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