SurModics (SRDX) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
SurModics (SRDX) reported $52.48 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 111.2%. EPS of $0.52 for the same period compares to -$0.34 a year ago.
The reported revenue represents a surprise of +96.57% over the Zacks Consensus Estimate of $26.7 million. With the consensus EPS estimate being -$0.46, the EPS surprise was +213.04%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 SurModics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Product sales: $15.67 million compared to the $15.80 million average estimate based on two analysts. The reported number represents a change of +12.6% year over year.
Revenue- Research, development and other: $2.66 million versus the two-analyst average estimate of $1.74 million. The reported number represents a year-over-year change of +24.4%.
Revenue- Royalties and license fees: $34.15 million compared to the $9.16 million average estimate based on two analysts. The reported number represents a change of +288.3% year over year.
View all Key Company Metrics for SurModics here>>>
Shares of SurModics have returned +0.8% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Surmodics, Inc. (SRDX) : Free Stock Analysis Report
