Fulgent Genetics, Inc. (FLGT) Surpasses Q3 Earnings and Revenue Estimates

Core Viewpoint - Fulgent Genetics, Inc. reported quarterly earnings of $0.31 per share, significantly exceeding the Zacks Consensus Estimate of a loss of $0.19 per share, marking an earnings surprise of 263.16% [1] Group 1: Earnings Performance - The company posted revenues of $71.74 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.46%, although this represents a decline from year-ago revenues of $84.69 million [2] - Over the last four quarters, Fulgent Genetics has exceeded consensus EPS estimates four times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Fulgent Genetics shares have declined approximately 23.8% since the beginning of the year, contrasting with the S&P 500's gain of 25.2% [3] - The company's current consensus EPS estimate for the upcoming quarter is -$0.40 on revenues of $75.07 million, and -$0.44 on revenues of $281.99 million for the current fiscal year [7] Group 3: Industry Context - The Medical Info Systems industry, to which Fulgent Genetics belongs, is currently ranked in the top 20% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8]