AngioDynamics Earnings: ANGO Stock Soars 19% on Q1 Topper

AngioDynamics (NASDAQ:ANGO) earnings for the company’s fiscal first quarter of 2021 have ANGO stock on the rise Tuesday. This comes after reporting adjusted earnings per share of 2 cents. That’s a surprise beat compared to Wall Street’s adjusted losses per share estimate of 7 cents. It’s revenue of $70.22 million also comes in above analysts’ estimates of $65.1 million.

Image of the AngioDynamics (ANGO) website under a magnifying glass.
Source: Pavel Kapysh / Shutterstock.com

Now, let’s dive deeper into the most recent AngioDynamics earnings report.

  • Adjusted per-share earnings are down 75% from 8 cents during the same time last year.
  • Revenue for the quarter comes in 6.3% higher than the $66.04 million reported in fiscal Q1 2020.
  • Operating loss of $5.12 million is 518.4% wider year-over-year than -$828,000.
  • The AngioDynamics earnings report also includes a net loss of $4.27 million.
  • That’s a 233.6% worse result than the net loss of $1.28 million reported in the same period of the year prior.

Jim Clemmer, president and CEO of AngioDynamics, said this in the earnings report.

“We had a strong first quarter, as our customers continued to show signs of recovery from the disruption of COVID-19. While customer demand has not yet returned to pre-COVID levels, the team is clearly executing in this challenging environment. Our key technology platforms performed well during the quarter, including strong sales growth of our AngioVac platform and more than $1 million in sales of our Auryon platform.”

AngioDynamics also includes guidance for fiscal 2021 in its earnings report. It’s expecting adjusted earnings per share to be flat to 5 cents on revenue of $278 million to $284 million. Wall Street’s looking for adjusted losses per share of 10 cents on revenue of $274.48 million for the year.

ANGO stock was up 19.4% as of Tuesday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/angiodynamics-earnings-push-ango-stock-up/.

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