OraSure Technologies (OSUR) Tops Q2 Earnings and Revenue Estimates

Core Viewpoint - OraSure Technologies (OSUR) reported quarterly earnings of $0.07 per share, exceeding the Zacks Consensus Estimate of $0.03 per share, and showing a significant improvement from a loss of $0.07 per share a year ago [1][2] Financial Performance - The company posted revenues of $54.34 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.86%, but down from $85.44 million in the same quarter last year [2] - Over the last four quarters, OraSure has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Performance - OraSure shares have declined approximately 48.4% since the beginning of the year, contrasting with the S&P 500's gain of 8.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.01 on revenues of $40.22 million, and $0.04 on revenues of $188.7 million for the current fiscal year [7] - The estimate revisions trend for OraSure is mixed, which could change following the recent earnings report [6] Industry Context - The Medical - Products industry, to which OraSure belongs, is currently ranked in the bottom 42% of over 250 Zacks industries, suggesting potential challenges ahead [8]