Overview
Vision correction lens maker's preliminary Q1 sales more than doubled, beating analyst expectations
Company's sales growth driven by strong demand in China and double-digit growth in Americas
Sales in parts of EMEA and APAC declined due to geopolitical and macroeconomic challenges
Outlook
STAAR continues to provide no forward revenue or earnings guidance
Company says global business conditions are volatile and some portions remain unpredictable
STAAR cautions sales growth could be adversely affected if macroeconomic challenges persist
Result Drivers
CHINA DEMAND - Co said majority of sales growth came from strong demand in China
AMERICAS GROWTH - Double-digit sales growth continued in the Americas, according to Interim Co-CEO and CFO Deborah Andrews
EMEA AND APAC DECLINES - Net sales in parts of EMEA and APAC fell due to significant geopolitical and macroeconomic challenges
Company press release: ID:nBwbtLNDga
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Beat
$90 mln
$67.04 mln (8 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."
Wall Street's median 12-month price target for STAAR Surgical Co is $21.00, about 0.4% below its April 7 closing price of $21.09
The stock recently traded at 1,668 times the next 12-month earnings vs. a P/E of 428 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)