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Here's What Key Metrics Tell Us About Techne (TECH) Q3 Earnings
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Techne (TECH - Free Report) reported $294.15 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 1.3%. EPS of $0.53 for the same period compares to $0.54 a year ago.
The reported revenue represents a surprise of -0.74% over the Zacks Consensus Estimate of $296.35 million. With the consensus EPS estimate being $0.53, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Techne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Organic Growth: 3% versus 3.33% estimated by three analysts on average.
Organic Growth - Diagnostics and Genomics: -2% versus -2% estimated by three analysts on average.
Organic Growth - Protein Sciences: 5% versus the three-analyst average estimate of 3.77%.
Net Sales- Protein Sciences: $218.90 million compared to the $219.93 million average estimate based on three analysts. The reported number represents a change of +2.7% year over year.
Net Sales- Diagnostics and Genomics: $75.67 million compared to the $75.21 million average estimate based on three analysts. The reported number represents a change of -2.6% year over year.
Shares of Techne have returned +8.7% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Techne (TECH) Q3 Earnings
Techne (TECH - Free Report) reported $294.15 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 1.3%. EPS of $0.53 for the same period compares to $0.54 a year ago.
The reported revenue represents a surprise of -0.74% over the Zacks Consensus Estimate of $296.35 million. With the consensus EPS estimate being $0.53, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Techne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Organic Growth: 3% versus 3.33% estimated by three analysts on average.
- Organic Growth - Diagnostics and Genomics: -2% versus -2% estimated by three analysts on average.
- Organic Growth - Protein Sciences: 5% versus the three-analyst average estimate of 3.77%.
- Net Sales- Protein Sciences: $218.90 million compared to the $219.93 million average estimate based on three analysts. The reported number represents a change of +2.7% year over year.
- Net Sales- Diagnostics and Genomics: $75.67 million compared to the $75.21 million average estimate based on three analysts. The reported number represents a change of -2.6% year over year.
View all Key Company Metrics for Techne here>>>Shares of Techne have returned +8.7% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.