Avita Medical Inc Reports Results For The Quarter Ended In December: Earnings Summary

AVITA Medical

23/02/2024 03:03

* AVITA Medical Inc  RCEL.OQ  reported a quarterly adjusted
loss
of 28 cents​​ per share for the quarter ended in December, lower
than the same quarter last year, when the company reported EPS
of -22 cents.  The mean expectation of five analysts for the
quarter was for a loss of 37 cents per share. Wall Street
expected results to range from -45 cents to -32 cents per share.
    * Revenue rose 50.1% to $14.20 million from a year ago;
analysts
expected $14.50 million. 
    * AVITA Medical Inc's reported EPS for the quarter was a
loss
of 28 cents​.
    * The company reported a quarterly loss of $7.07 million.
    * AVITA Medical Inc shares had risen by 26.8% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.6%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for AVITA Medical Inc
is $24.00 
This summary was machine generated from LSEG data February 23 at
03:02 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      -0.37          -0.28          Beat
 Sep. 30 2023      -0.44          -0.34          Beat
 Jun. 30 2023      -0.32          -0.41          Missed
 Mar. 31 2023      -0.25          -0.37          Missed