Cutera (CUTR) Announces Preliminary Full-Year 2022 Results
Cutera Inc CUTR recently announced preliminary unaudited financial results for full year ended December 2022. The company expects revenues to be in the range of $252-$253 million, up 15-16% year over year on a constant-currency basis. The previously guided revenues were in the range of $255-$260 million.
The Zacks Consensus Estimate for 2022 revenues is pegged at $257.4 million, up 11.3% on a year-over-year basis. For the fourth quarter, the Zacks Consensus Estimate for revenues is pegged at $72.4 million, indicating year-over-year growth of 10.2%.
These results are subject to the completion of Cutera’s year-end financial reporting processes, and reviews as well as audit, noted the company. The company is scheduled to release its fourth quarter and full-year 2022 results on Feb 28.
Cutera, Inc. Price and Consensus
Cutera, Inc. price-consensus-chart | Cutera, Inc. Quote
Brisbane, CA-based Cutera designs, develops, manufactures and markets aesthetic and dermatology solutions for use in laser and other light-based aesthetic applications.
Cutera benefits from significant capital equipment and consumable products demand. In the last reported quarter, consumable products’ revenues were up 66% (up 74% on a constant-currency basis), driven by strong underlying treatment volumes and addition of AviClear patient procedure revenues. Capital equipment’s sales surged 27% (up 32% in constant currency) on a year-over-year basis.
However, increasing expenses remain a major headwind amid global macroeconomic turmoil. Operating expenses were $43.7 million, up 33.2% year over year in the third quarter. Also, the rapid devaluation of the Japanese Yen against the US dollar has been concerning.
At present, Cutera carries a Zacks Rank #3 (Hold). Shares of the company have lost 22.3% compared with the sub-industry’s decline of 42.2% in the past year.
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Stocks to Consider
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Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have increased 7.5% in the past year.
The Zacks Consensus Estimate for Pure Storage’s fiscal 2023 earnings is pegged at $1.28 per share, up 8.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 21.3%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 156%. Shares of PSTG have declined 3.9% in the past year.
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