Workflow
AbCellera Biologics Inc. (ABCL) Reports Q3 Loss, Misses Revenue Estimates
ABCLAbCellera Biologics(ABCL) ZACKS·2024-11-04 23:55

Company Performance - AbCellera Biologics Inc. reported a quarterly loss of 0.17pershare,whichwasworsethantheZacksConsensusEstimateofalossof0.17 per share, which was worse than the Zacks Consensus Estimate of a loss of 0.14, and compared to a loss of 0.10pershareayearago,indicatinganearningssurpriseof−21.430.10 per share a year ago, indicating an earnings surprise of -21.43% [1] - The company posted revenues of 6.51 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 27.30%, and down from 6.6millioninthesamequarterlastyear[2]−Overthelastfourquarters,AbCellerahassurpassedconsensusEPSestimatesonlytwotimesandhasnotbeatenconsensusrevenueestimatesduringthisperiod[2]StockPerformance−AbCelleraBiologicsshareshavedeclinedapproximately52.26.6 million in the same quarter last year [2] - Over the last four quarters, AbCellera has surpassed consensus EPS estimates only two times and has not beaten consensus revenue estimates during this period [2] Stock Performance - AbCellera Biologics shares have declined approximately 52.2% since the beginning of the year, contrasting with the S&P 500's gain of 20.1% [3] - The current consensus EPS estimate for the upcoming quarter is -0.14 on revenues of 9.57million,andforthecurrentfiscalyear,itis−9.57 million, and for the current fiscal year, it is -0.55 on revenues of $35.86 million [7] Industry Outlook - The Medical - Biomedical and Genetics industry, to which AbCellera belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact AbCellera's stock performance [5]