Progyny rises on 2023 forecast raise, Q1 results beat

Progyny

09/05/2023 19:16

** Shares of fertility benefits management co Progyny Inc
 PGNY.O  rise 9.3% to $38.09, a near 6-month high
    ** Co now sees 2023 net income of $0.42 to $0.48 per diluted
share, up from prior forecast of $0.26 to $0.32 per diluted
share 
    ** Expects 2023 revenue between $1,040 mln to $1,065 mln, up
from $1,000 million to $1,030 million it forecast previously
    ** Expects Q2 net income of $0.09 to $0.10 per diluted share
and revenue between $260.0 mln and $265.0 mln
    ** Q1 net income was 18 cents per share, beating analysts'
est. of 8 cents per share - Refinitiv
    ** Also posts rev. of $258.4 mln, while analysts' expected
$246.4 mln
    ** PGNY shares rose ~22% YTD

 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com))