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What's in the Cards for Mesa Laboratories' (MLAB) Q3 Earnings?

Zacks Equity Research
·4 min read

Mesa Laboratories, Inc. MLAB is scheduled to report third-quarter fiscal 2023 results on Feb 6, before market open.

In the last-reported quarter, the company’s earnings of $2.88 per share surpassed the Zacks Consensus Estimate by 107.2%. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on two occasions and missed the same in the other two, delivering an earnings surprise of 16.6%, on average.

Let’s see how things have shaped up for MLAB prior to this announcement:

Factors to Note

Clinical Genomics

During the second-quarter fiscal 2023 earnings release in November, Mesa Laboratories’ Clinical Genomics segment (added after the completion of the acquisition of Agena Bioscience, Inc.) witnessed robust global systems placements and China revenues. This resulted from a strong rebound of these two sources in the quarter after timing issues and lockdown-related headwinds eased from the fiscal first quarter. The segment also saw strong revenue contributions (excluding COVID-19-related revenues) during its first twelve months of ownership, which was in line with the guidance provided at the time of the acquisition.

In the fiscal third quarter, the strong momentum of global systems placements is likely to have continued, thereby strongly contributing to segmental revenues.

Mesa Laboratories, Inc. Price and EPS Surprise

 

Mesa Laboratories, Inc. Price and EPS Surprise
Mesa Laboratories, Inc. Price and EPS Surprise

Mesa Laboratories, Inc. price-eps-surprise | Mesa Laboratories, Inc. Quote

 

Other Factors to Note

In the second quarter of fiscal 2023, Mesa Laboratories witnessed strong bookings growth in its Sterilization and Disinfection Control segment. The segment also benefited from improving labor-based constraints in its Bozeman, MT facility. Management had confirmed during the fiscal second-quarter earnings release that strong execution of process improvement initiatives in commercial engagement, labor supply and supply-chain execution had driven its strong revenue growth and profitability improvements in the quarter. This momentum is expected to have continued in the to-be-reported quarter, thereby driving up the overall revenues.

However, the current unstable macroeconomic business environment, resulting from the supply-chain constraints, unfavorable currency movement and inflationary pressures, is likely to have weighed on the company’s fiscal third-quarter revenues, raising our apprehension.

The Estimate Picture

For third-quarter fiscal 2023, the Zacks Consensus Estimate of $57.7 million for total revenues implies an improvement of 5.5% from the prior-year quarter’s reported figure.

The consensus estimate for earnings per share is pegged at $2.10    , indicating an uptick of 54.4% from the prior-year period’s reported number.

What Our Model Suggests

Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has higher chances of beating estimates. However, this is not the case here, as you can see:

Earnings ESP: Mesa Laboratories has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #3.

Stocks Worth a Look

Here are a few other medical stocks worth considering, as these have the right combination of elements to beat on earnings this reporting cycle:

Zimmer Biomet Holdings, Inc. ZBH has an Earnings ESP of +1.32% and a Zacks Rank of 2. ZBH has an estimated long-term growth rate of 7.7%.

Zimmer Biomet’s earnings surpassed estimates in three of the trailing four quarters and missed the same in the other, with the average surprise being 6.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Cardinal Health, Inc. CAH has an Earnings ESP of +5.75% and is a Zacks #2 Rank stock. CAH has an estimated long-term growth rate of 11.7%.

Cardinal Health’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, with the average surprise being 3%.

IDEXX Laboratories, Inc. IDXX has an Earnings ESP of +0.39% and carries a Zacks Rank of 2 at present. IDXX has an estimated long-term growth rate of 17.3%.

IDEXX’s earnings surpassed estimates in all the trailing four quarters, with the average surprise being 5.2%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Cardinal Health, Inc. (CAH) : Free Stock Analysis Report

IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report

Mesa Laboratories, Inc. (MLAB) : Free Stock Analysis Report

Zimmer Biomet Holdings, Inc. (ZBH) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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