HOLOGIC Reports Third Quarter Earnings Results for Fiscal Year 2023
August 26, 2023
🌥️Earnings Overview
HOLOGIC ($NASDAQ:HOLX) reported their third quarter earnings results for the fiscal year 2023, with the period ending on June 30, 2023. Total revenue for this quarter was USD 984.4 million, a 1.8% decrease from the same period in the prior year. Additionally, net income decreased year-over-year from USD 228.4 million to USD -40.5 million.
Share Price
The day saw their stock open at $80.7 and close at $79.4, representing a decrease of 1.6% from the previous closing price of $80.7. The earnings were much lower than anticipated, leading to the dip in stock performance. Despite the disappointing third quarter earnings, investors were encouraged by HOLOGIC‘s plans to return to profitability in the fourth quarter and beyond. The company expects to see improved revenue and earnings growth in the upcoming quarters, as well as an increase in customer demand for their products and services.
HOLOGIC has also announced plans to invest heavily in research and development, as well as expanding product offerings in order to better compete in the market. Ultimately, this quarter’s results are not indicative of HOLOGIC’s long-term financial health. Investors remain optimistic about the potential for future growth, and the company is confident that they will be able to deliver on their promises in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hologic. HOLOGIC_Reports_Third_Quarter_Earnings_Results_for_Fiscal_Year_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 4.04k | 484.1 | 13.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hologic. HOLOGIC_Reports_Third_Quarter_Earnings_Results_for_Fiscal_Year_2023″>More…
| Operations | Investing | Financing |
| 961.1 | -128.2 | -442.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hologic. HOLOGIC_Reports_Third_Quarter_Earnings_Results_for_Fiscal_Year_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.34k | 4.16k | 21.16 |
Key Ratios Snapshot
Some of the financial key ratios for Hologic are shown below. HOLOGIC_Reports_Third_Quarter_Earnings_Results_for_Fiscal_Year_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.0% | 19.7% | 19.3% |
| FCF Margin | ROE | ROA |
| 20.6% | 9.3% | 5.2% |
Analysis
GoodWhale has recently conducted an analysis of HOLOGIC‘s financial and business aspects. Our Risk Rating tool has identified HOLOGIC as a high risk investment. In terms of financial aspects, there are three risk warnings detected by GoodWhale. The first warning is in the income sheet, where HOLOGIC has reported a large decrease in their profits over the past few quarters. The second risk warning is with their balance sheet, where their liabilities have been increasing. Lastly, non-financial risk warnings have been detected as well, such as a decrease in customer satisfaction and employee morale. If you are interested in learning more about these risk warnings, please register on GoodWhale.com to access our detailed report on HOLOGIC. More…
Peers
The company’s products are used in a variety of settings, including hospitals, clinics, and physician offices. Hologic also provides a range of services, including support, training, and education. The company has a strong presence in the United States and international markets, and its products are backed by a large body of scientific research. ALR Technologies Inc, G Medical Innovations Holdings Ltd, and Omega Diagnostics Group PLC are all competitors of Hologic Inc.
– ALR Technologies Inc ($OTCPK:ALRT)
ALR Technologies Inc is a publicly traded company with a market capitalization of $19.32 million as of 2022. The company has a return on equity of 17.26%. ALR Technologies is a leading provider of enterprise software solutions. The company’s products are used by organizations of all sizes to manage their businesses. ALR Technologies’ products are used by companies in a variety of industries, including healthcare, manufacturing, retail, and government.
– G Medical Innovations Holdings Ltd ($NASDAQ:GMVD)
As of 2022, Aetna’s market cap was 5.58M and its ROE was 783.79%. Aetna is a diversified healthcare benefits company that offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities and health care management services for Medicaid plans.
– Omega Diagnostics Group PLC ($LSE:ODX)
Omega Diagnostics Group PLC is a medical diagnostics company. The company develops, manufactures, and supplies diagnostic test kits and instruments. It offers tests for the detection of allergies, food intolerances, infectious diseases, and hormones. The company sells its products through a network of distributors in the United Kingdom, Europe, the United States, Asia, Australia, and Africa.
Summary
HOLOGIC‘s third quarter earnings report for fiscal year 2023 shows that total revenue was down 1.8% compared to the same period last year. Net income for the quarter was also significantly lower, dropping from USD 228.4 million to USD -40.5 million. Investors should take this into consideration when evaluating HOLOGIC’s performance.
Analysts suggest that any further declines in earnings could influence the company’s stock price in the short-term, as well as its ability to pay dividends in the long-term. Looking ahead, investors should keep a close eye on HOLOGIC’s financial performance to determine if the company is on a sustainable path of growth and profitability.
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