Repligen Q3 Results Top Estimates; Boosts FY23 Earnings Outlook

(RTTNews) - Life sciences company Repligen Corp. (RGEN) announced Tuesday third-quarter net income of $18.17 million or $0.32 per share, sharply down from $40.41 million or $0.71 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $0.23 per share, compared to $0.77 per share in the year-ago quarter.

Total revenues for the quarter decreased 30 percent to $141.19 billion from $200.74 billion in the same quarter last year.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share on revenues of $140.64 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2023, the company now projects earnings in a range of $1.26 to $1.32 per share and adjusted earnings in a range of $1.70 to $1.76 per share on revenues between $635 million and $645 million.

Previously, the company expected earnings in the range of $1.00 to $1.08 per share and adjusted earnings in the range of $1.72 to $1.80 per share on revenues between $635 million and $645 million.

The Street is looking for earnings of $1.74 per share on revenues of $645.78 million for the year.

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