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Mar 31, 2024
Azenta Q2 2024 Earnings Report
Reported strong organic revenue growth and improved profitability due to cost reduction and transformation initiatives.
Key Takeaways
Azenta reported a 7% increase in revenue year-over-year, driven by higher B Medical Systems and Sample Management Solutions revenues. The company saw improved profitability due to ongoing cost reduction and transformation initiatives.
Revenue was $159 million, up 7% year over year.
Organic revenue was up 7% year over year.
Sample Management Solutions revenue was $74 million, up 4% year over year.
B Medical Systems revenue was $23 million, up 51% year over year.
Revenue by Segment
Forward Guidance
The Company is lowering revenue guidance for fiscal year 2024 while raising earnings guidance.
Positive Outlook
- Adjusted EBITDA margin expansion is expected to be approximately 300 basis points.
- Total revenue is now expected to be in the range of $659 to $671 million.
- Total organic revenue in the range of down 1% to up 1% relative to fiscal year 2023.
- Non-GAAP diluted earnings per share is expected to be in the range of $0.27 to $0.37.
Challenges Ahead
- Total revenue is now expected to be in the range of $659 to $671 million due to the timing of B Medical revenue.
- Total organic revenue in the range of down 1% to up 1% relative to fiscal year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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