Align Technologies earnings for the second quarter of 2019 have ALGN stock falling hard on Thursday.
Align Technologies (NASDAQ:ALGN) reported earnings per share of $1.83 for the second quarter of the year. This is up from the company’s earnings per share of $1.30 from the same time last year. It also comes in well above analysts’ revenue estimate of $1.51 for the quarter, but couldn’t stop ALGN stock from dropping today.
Net income reported in the Align Technologies earnings release for the second quarter of 2019 comes in at $147.14 million. This is better than the company’s net income of $106.11 million reported in the second quarter of 2018.
Operating income from the Align Technologies earnings report for the second quarter of the year was $176.49 million. That’s an increase over the company’s operating income of $122.69 million reported in the same period of the year prior.
Align Technologies earnings for the second quarter of 2019 have revenue coming in at $600.70 million. This is an improvement over the company’s revenue of $490.26 million reported in the second quarter of the previous year. This also has it beating analysts’ revenue estimate of $599.40 million for the period, but couldn’t keep ALGN stock from falling.
So what exactly has ALGN stock down on Thursday? The company’s guidance for the third quarter of 2019 isn’t exactly filling investors with confidence. It is expecting earnings per share between $1.09 to $1.16 for the quarter. However, Wall Street is estimating earnings per share of $1.44 for the third quarter of the year.
ALGN stock was down 27% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.