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Align Technology (ALGN) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Align Technology (ALGN - Free Report) reported $1.03 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 2.6%. EPS of $2.41 for the same period compares to $2.22 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.04 billion, representing a surprise of -0.89%. The company delivered an EPS surprise of +3.88%, with the consensus EPS estimate being $2.32.
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 Align Technology performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Clear Aligner Shipments: 643 versus 632 estimated by two analysts on average.
Net revenues- Imaging Systems and CAD/CAM Services: $196.75 million versus the three-analyst average estimate of $188.50 million. The reported number represents a year-over-year change of +16.1%.
Net revenues- Total Clear Aligner: $831.74 million versus $848 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -0.1% change.
Shares of Align Technology have returned +6.6% over the past month versus the Zacks S&P 500 composite's +1.8% 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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Align Technology (ALGN) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Align Technology (ALGN - Free Report) reported $1.03 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 2.6%. EPS of $2.41 for the same period compares to $2.22 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.04 billion, representing a surprise of -0.89%. The company delivered an EPS surprise of +3.88%, with the consensus EPS estimate being $2.32.
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 Align Technology performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Clear Aligner Shipments: 643 versus 632 estimated by two analysts on average.
- Net revenues- Imaging Systems and CAD/CAM Services: $196.75 million versus the three-analyst average estimate of $188.50 million. The reported number represents a year-over-year change of +16.1%.
- Net revenues- Total Clear Aligner: $831.74 million versus $848 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -0.1% change.
View all Key Company Metrics for Align Technology here>>>Shares of Align Technology have returned +6.6% over the past month versus the Zacks S&P 500 composite's +1.8% 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.