Insmed (INSM) Reports Q2 Loss, Tops Revenue Estimates

Company Performance - Insmed reported a quarterly loss of $1.94 per share, which was worse than the Zacks Consensus Estimate of a loss of $1.22, and compared to a loss of $1.78 per share a year ago [1] - The company posted revenues of $90.34 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 2.71%, and up from $77.23 million in the same quarter last year [3] - Insmed has surpassed consensus revenue estimates two times over the last four quarters [3] Earnings Surprise and Outlook - The quarterly report represented an earnings surprise of -59.02%, with the company previously expected to post a loss of $1.22 per share but actually reporting a loss of $1.94 [2] - The current consensus EPS estimate for the upcoming quarter is -$1.02 on revenues of $92.89 million, and for the current fiscal year, it is -$4.71 on revenues of $353.25 million [8] Stock Performance and Industry Context - Insmed shares have increased approximately 129.1% since the beginning of the year, significantly outperforming the S&P 500's gain of 9% [4] - The Medical - Biomedical and Genetics industry, to which Insmed belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [9]