InMode falls as slowing N.America sales prompt forecast cuts

InMode

06/12/2023 13:37

** Shares of Israel-based medtech co Inmode fall ~13% to
$20.59 in premarket trading
    ** Co cuts annual sales and adj. profit expectations, citing
slowdown in sales in North America    
    ** INMD now sees 2023 revenue to be in the range of $485 mln
to $495 mln vs prior estimated range of $500 mln to $510 mln 
    ** Analysts were expecting 2023 revenue of $509.3 mln -LSEG 
    ** Co expects full-year adj. EPS to be in the range of $2.47
to $2.50, vs prior range of $2.53 to $2.57  
    ** Analysts were expecting 2023 adj. EPS of $2.54 -LSEG
    ** Up to last close, stock down 33.8% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))