Fulgent Genetics, Inc. (FLGT) Beats Q2 Earnings and Revenue Estimates

Group 1 - Fulgent Genetics, Inc. reported quarterly earnings of $0.15 per share, exceeding the Zacks Consensus Estimate of a loss of $0.31 per share, and compared to a loss of $0.08 per share a year ago, representing an earnings surprise of 148.39% [1] - The company posted revenues of $71.03 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.37%, and this is an increase from year-ago revenues of $67.85 million [2] - Fulgent Genetics has surpassed consensus EPS estimates three times over the last four quarters, indicating a positive trend in earnings performance [2] Group 2 - The stock has underperformed the market, losing about 18.5% since the beginning of the year, while the S&P 500 has gained 14.2% [3] - The current consensus EPS estimate for the coming quarter is -$0.24 on revenues of $71.57 million, and for the current fiscal year, it is -$1.03 on revenues of $279.75 million [7] - The Zacks Industry Rank for Medical Info Systems is currently in the bottom 43% of over 250 Zacks industries, suggesting that the industry outlook may negatively impact stock performance [8]