Genomics company Pacific Biosciences of California (NASDAQ:PACB) will be announcing earnings results tomorrow after market hours. Here’s what investors should know.
PacBio missed analysts’ revenue expectations by 5% last quarter, reporting revenues of $39.97 million, down 28.2% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EPS estimates.
Is PacBio a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting PacBio’s revenue to decline 31.5% year on year to $39.96 million, a reversal from the 113% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.17 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. PacBio has missed Wall Street’s revenue estimates four times over the last two years.
Looking at PacBio’s peers in the life sciences tools & services segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Illumina posted flat year-on-year revenue, beating analysts’ expectations by 2.1%, and Waters Corporation reported revenues up 6.5%, topping estimates by 1.9%. Illumina traded down 9.6% following the results.
Read our full analysis of Illumina’s results here and Waters Corporation’s results here.
Investors in the life sciences tools & services segment have had steady hands going into earnings, with share prices flat over the last month. PacBio is down 26.5% during the same time and is heading into earnings with an average analyst price target of $2.98 (compared to the current share price of $1.36).
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