InMode Expects Q3 Earnings Below View, Cuts 2023 Revenue Outlook; Stock Slips Over 12% In Pre-market

(RTTNews) - InMode Ltd. (INMD), an Israeli maker of minimally invasive aesthetic medical and related products, said on Thursday that it expects a decline in adjusted earnings per share for the third-quarter of 2023, amidst persisting adverse macro-economic conditions.

Following the news, INMD was trading down by 12.47 percent at $24.50 per share in the pre-market trade on the Nasdaq.

For the three-month period to September 30, excluding items, the company expects to register income per share of $0.59 to $0.60.

On average, six analysts polled by Thomson Reuters forecast the firm to record earnings per share of $0.66. Analysts' estimates typically exclude special items.

For the third-quarter of 2022, InMode had posted adjusted income per share of $0.66.

Revenue for the third quarter is projected to be in the range of $122.8 million to $123 million, below the analysts' estimate of $136.94 million.

For the third-quarter of 2022, the healthcare firm had reported revenue of $121.232 million.

Looking ahead, for full year 2023, the company expects to post revenue of $500 million to $510 million against its previous projection of $530 million to $540 million.

Analysts, on average, forecast the company to report revenue of $538.03 million, for the year.