Beauty Health (NASDAQ:SKIN) stock is taking a beating on Tuesday after the aesthetic technologies and products company released its third-quarter earnings report.
The bad news for SKIN stock starts with the company’s revenue of $97.4 million. That failed to reach Wall Street’s revenue estimate of $114.99 million for the quarter, even if it’s a 10% increase year-over-year.
Beauty Health also reported earnings per share of -56 cents during the quarter. That’s far from the 9 cents per share analysts were expecting. It’s also much wider than the -3 cents per share reported in the same period of the year prior.
SKIN Stock Hit by Guidance Update
Following its lackluster revenue for Q3, Beauty Health has updated its guidance for the full year of 2023. That now has it expecting revenue for the year to range from $385 million to $400 million. That doesn’t look good next to Wall Street’s 2023 revenue estimate of $461.35 million.
Michael Monahan, chief financial officer of Beauty Health, said the following in the earnings report:
“We are focused on protecting Hydrafacial’s strong brand equity as we address the Syndeo provider experience challenges. We are confident that, with our strategy, we will return Hydrafacial to the reliable standard that our customers have come to expect from us and keep their trust—and, with this, re-accelerate Syndeo adoption in the U.S.”
SKIN stock is down 48.7% as of Tuesday morning.
Investors seeking out even more of the most recent stock market stories will want to stick around!
We’ve got all of the latest stock market coverage traders need to know about on Tuesday! A few examples include what’s happening with Alaunos Therapeutics (NASDAQ:TCRT) and ReAlpha Tech (NASDAQ:AIRE) stock, as well as a look at the biggest pre-market stock movers today. All of that news is available at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
