AngioDynamics Q2 Results Miss Estimates; Boosts FY24 Adj. EPS Outlook

(RTTNews) - While reporting financial results for the second quarter on Thursday, medical devices company AngioDynamics, Inc. (ANGO) raised its adjusted earnings guidance for the full year 2024, while trimming annual net sales outlook.

For fiscal 2024, the company now projects adjusted earnings in the range of $0.35 to $0.42 per share on net sales between $320 million and $325 million.

Previously, the company expected adjusted earnings in the range of $0.28 to $0.34 per share on net sales between $328 million and $333 million.

On average, four analysts polled by Thomson Reuters expect the company to report a loss of $0.32 per share on net sales of $329.05 million for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported a net loss of $29.05 million or $0.72 per share, wider than $8.47 million or $0.21 per share in the prior-year quarter.

Excluding item, adjusted loss for the quarter was $0.05 per share, compared to adjusted income of $0.01 per share in the year-ago quarter.

Net sales for the quarter decreased to $79.07 million from $85.43 million in the same quarter last year.

The Street was looking for a loss of $0.07 per share on net sales of $82.04 million for the quarter.

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