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Jun 30, 2022
Azenta Q3 2022 Earnings Report
Reported financial results for the third quarter of fiscal year 2022.
Key Takeaways
Azenta's Q3 2022 results were below expectations due to lower revenue from consumables and genomics, despite delivering 6% organic growth year-over-year driven by storage services and automated ultra-cold storage systems.
Revenue from continuing operations was $133 million, up 3% year over year and down 9% sequentially.
Year-over-year organic growth was 6%, which excludes a 3 percentage point headwind from foreign exchange.
Revenue from Life Sciences Products declined 3% year over year driven by lower consumables and instruments revenue partially offset by double-digit growth across large automated stores, cryogenic systems and infrastructure services.
Life Sciences Services revenue was up 6% year over year, with 19% growth in Sample Repository Solutions driven by growth in storage.
Azenta
Azenta
Forward Guidance
The Company announced revenue and earnings guidance for continuing operations for the fourth quarter of fiscal 2022.
Positive Outlook
- Revenue is expected to be in the range of $131 million to $141 million
- Non-GAAP diluted earnings per share is expected to be in the range of $0.04 to $0.12
Challenges Ahead
- GAAP diluted earnings per share from continuing operations is expected to be in the range of ($0.11) to ($0.03).