Myriad (MYGN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Myriad Genetics (MYGN) reported revenue of $183.5 million, up 2.3% over the same period last year. EPS came in at -$0.08, compared to $0.04 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $186.05 million, representing a surprise of -1.37%. The company delivered an EPS surprise of +20.00%, with the consensus EPS estimate being -$0.10.
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 Myriad performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Molecular diagnostic revenues- Prenatal: $35.60 million versus the three-analyst average estimate of $34.08 million. The reported number represents a year-over-year change of +6.9%.
Molecular diagnostic testing revenue- Hereditary Cancer Testing: $76.70 million versus $79.55 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -3.4% change.
Revenue by Product- Pharmacogenomics: $35.20 million versus the three-analyst average estimate of $31.03 million.
Molecular diagnostic testing revenue- Tumor Profiling: $36 million compared to the $36.66 million average estimate based on three analysts. The reported number represents a change of +7.5% year over year.
View all Key Company Metrics for Myriad here>>>
Shares of Myriad have returned -7.9% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Myriad Genetics, Inc. (MYGN) : Free Stock Analysis Report
