Repligen's (RGEN) Q3 Earnings & Sales Beat Estimates
Repligen Corporation RGEN is a leading provider of advanced bioprocessing technologies and solutions used by large biopharmaceutical companies and contract manufacturing organizations for manufacturing biologic drugs, such as monoclonal antibodies (mAbs) and gene therapies.
The company earns its revenues from the sale of several products, which can be categorized mainly into four product franchises, namely Filtration, Chromatography, Protein and Process Analytics. Repligen has witnessed solid overall organic revenue growth as all the product franchises have accelerated well. The company has also made a few promising acquisitions in the past couple of years to diversify its business or boost its core competencies.
Repligen’s performance has been encouraging so far, with the company’s earnings beat expectations in each of the trailing four quarters. Overall, the company has delivered an average earnings surprise of 54.45%.
Currently, Repligen has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Repligen reported adjusted earnings of 78 cents per share in the third quarter of 2021 which beat the Zacks Consensus Estimate of 64 cents as well as 40 cents in the year-ago quarter.
Revenues Beat: The company reported $178.2 million as revenue for the third quarter – a 89% year-over year growth. Revenues also beat the Zacks Consensus Estimate of $164.68 million.
Key Stats: While the company’s base business accounted for 67% of revenue, COVD-related sales accounted for 27% of company’s revenues. The base business registered a 49% year-over-year growth while COVID related sales grew 247% year-over-year.
Share Price Impact: Shares were up in pre-market trading.
Check back later for our full write up on RGEN earnings report later!
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