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I doubt there is a person on this planet who doesn’t want to see the COVID-19 pandemic disappear forever. But for businesses in the healthcare industry, the circumstances can end up generating additional revenue. That’s not to say those companies don’t want it to go away as everyone else does, but when revenue is on the line, it can be a bit tricky to keep investors happy.
Since its latest earnings call, Hologic ( NASDAQ:HOLX ) has been looking for ways to keep its investors smiling. The pandemic seems to have a toe out the door in some countries, resulting in a $60 million — or 10% — quarterly decline in revenue related to COVID-19. Do the latest results from Hologic foretell its doom? Image source: Getty Images. An earnings surprise
Entering the first quarter of 2021, Hologic was riding a winning streak of three consecutive quarters. During that time span, earnings had exceeded analyst estimates for earnings per share (EPS) by an average of 70.5%: June 2020 $0.36 $0.75 108.33% Sept. 2020 $1.22 $2.07 69.67% Dec. 2020 $2.14 $2.86 33.64% March 2021 $2.62 $2.59 (1.15%) However, looking more closely, we can see the beats have been sliding down consistently […]