Haemonetics (HAE) Misses Q1 Earnings Estimates

Core Viewpoint - Haemonetics reported quarterly earnings of $1.02 per share, slightly missing the Zacks Consensus Estimate of $1.03 per share, and down from $1.05 per share a year ago [1][2] Financial Performance - The company posted revenues of $336.17 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.09% and up from $311.33 million year-over-year [3] - Over the last four quarters, Haemonetics has exceeded consensus revenue estimates three times [3] Stock Performance and Outlook - Haemonetics shares have increased by approximately 0.3% since the beginning of the year, while the S&P 500 has gained 9% [4] - The current consensus EPS estimate for the upcoming quarter is $1.11 on revenues of $346.75 million, and for the current fiscal year, it is $4.58 on revenues of $1.39 billion [8] Industry Context - The Medical - Products industry, to which Haemonetics belongs, is currently ranked in the top 34% of over 250 Zacks industries, indicating a favorable outlook [9] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Haemonetics' stock performance [6][7]