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

AVITA Medical

09/08/2024 01:01

* AVITA Medical Inc  RCEL.OQ  reported a quarterly adjusted
loss
of 60 cents​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of -41 cents.  The mean expectation of five analysts for the
quarter was for a loss of 52 cents per share. Wall Street
expected results to range from -66 cents to -43 cents per share.
    * Revenue rose 29.3% to $15.20 million from a year ago;
analysts
expected $14.73 million. 
    * AVITA Medical Inc's reported EPS for the quarter was a
loss
of 60 cents​.
    * The company reported a quarterly loss of $15.39 million.
    * AVITA Medical Inc shares had risen by 1.0% this
quarter and
lost 41.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 37.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 3
"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 $21.00 
This summary was machine generated from LSEG data August 9 at
12:01 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
 Jun. 30 2024      -0.52          -0.60          Missed
 Mar. 31 2024      -0.47          -0.73          Missed
 Dec. 31 2023      -0.37          -0.28          Beat
 Sep. 30 2023      -0.44          -0.34          Beat