Fulgent Genetics Third Quarter 2022 Earnings: Beats Expectations
Fulgent Genetics (NASDAQ:FLGT) Third Quarter 2022 Results
Key Financial Results
Revenue: US$105.7m (down 54% from 3Q 2021).
Net income: US$1.72m (down 99% from 3Q 2021).
Profit margin: 1.6% (down from 54% in 3Q 2021). The decrease in margin was driven by lower revenue.
EPS: US$0.057 (down from US$4.13 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Fulgent Genetics Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates.
Looking ahead, revenue is expected to decline by 22% p.a. on average during the next 3 years, while revenues in the Healthcare industry in the US are expected to grow by 7.5%.
Performance of the American Healthcare industry.
The company's shares are down 14% from a week ago.
Risk Analysis
It is worth noting though that we have found 4 warning signs for Fulgent Genetics (1 is concerning!) that you need to take into consideration.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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