Compared to Estimates, Align Technology (ALGN) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Align Technology (ALGN) reported revenue of $960.21 million, up 7.9% over the same period last year. EPS came in at $2.14, compared to $1.36 in the year-ago quarter.
The reported revenue represents a surprise of -3.46% over the Zacks Consensus Estimate of $994.6 million. With the consensus EPS estimate being $2.26, the EPS surprise was -5.31%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Align Technology performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Clear Aligner Shipments: 602 versus the three-analyst average estimate of 590.
Number of Invisalign Trained Doctors Cases Were Shipped To: 85,195 versus the two-analyst average estimate of 84,447.
Net revenues- Imaging Systems and CAD/CAM Services: $165.30 million compared to the $176.63 million average estimate based on three analysts. The reported number represents a change of +5% year over year.
Net revenues- Total Clear Aligner: $794.90 million compared to the $815.34 million average estimate based on three analysts. The reported number represents a change of +8.5% year over year.
View all Key Company Metrics for Align Technology here>>>
Shares of Align Technology have returned -11.2% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Align Technology, Inc. (ALGN) : Free Stock Analysis Report
