MYGN Q4 Earnings Meet Estimates, Revenues Rise Y/Y, Stock Down

Myriad Genetics, Inc. MYGN reported fourth-quarter 2024 adjusted earnings of 3 cents per share, which came in line with the Zacks Consensus Estimate. The company reported earnings of 4 cents per share in the year-ago quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Adjusted earnings exclude amortization expenses from acquired intangible assets, equity compensations and real estate optimization. The GAAP loss was 47 cents compared with the prior-year quarter’s loss of 36 cents.For the full year, adjusted earnings were 14 cents per share compared to the year-ago period’s loss of 27 cents. The reported metric beat the Zacks Consensus Estimate of 13 cents in EPS.MYGN’s RevenuesTotal revenues rose 7.1% year over year to $210.6 million, topping the Zacks Consensus Estimate by 0.2%. Testing volumes increased 4% year over year.For full-year 2024, revenues totaled $837.6 million, reflecting an 11% rise from the year-ago period. The figure topped the Zacks Consensus Estimate slightly by 0.1%.MYGN’s Q4 Revenues by SegmentsHereditary Cancer testing revenues rose 6% year over year to $94.3 million.Pharmacogenomics testing revenues totaled $40.6 million, up 14% year over year.Myriad Genetics, Inc. Price, Consensus and EPS Surprise Myriad Genetics, Inc. price-consensus-eps-surprise-chart | Myriad Genetics, Inc. QuoteTumor Profiling testing revenues fell 4% year over year to $30.8 million.Prenatal testing revenues came in at $44.9 million, up 12% year over year.MYGN’s Q4 Margin PerformanceThe gross margin expanded 299 basis points (bps) to 71.7%.Research and development expenses rose 41.4% year over year to $29.7 million. SG&A expenses increased 7.3% to $72 million in the reported quarter.The adjusted operating loss was $17.3 million compared with a loss of $31.4 million in the year-ago quarter.MYGN’s Financial PositionMyriad Genetics exited the fourth quarter of 2024 with cash and cash equivalents of $102.4 million compared with $132.1 million at the end of 2023.Long-term debt amounted to $39.6 million compared with $38.5 million at the end of 2023.The cumulative net cash inflow from operating activities at the end of the reported quarter was $6.6 million compared to an outflow of $54.7 million in the year-ago period.MYGN Issues 2025 & Q1 GuidanceFor 2025, Myriad Genetics forecasts revenues in the range of $840-$860 million, suggesting 9%-11% growth over the prior-year level, excluding the impact of the change in UNH PGx medical policy and divested businesses. The Zacks Consensus Estimate is pegged at $859.1 million.Adjusted earnings per share (EPS) are expected to be in the range of 7-11 cents. The Zacks Consensus Estimate is pegged at 9 cents.For the first quarter, revenues are expected between $196 and $204 million compared with the Zacks Consensus Estimate of $212.7 million.Adjusted EPS is forecasted to be a loss of 4-8 cents. The Zacks Consensus Estimate currently expects the metric to break even.Our Take on MYGNMyriad Genetics exited the fourth quarter of 2024 with earnings in line with estimates, while revenues slightly beat the consensus mark. Revenues were driven by the continued demand for Pharmacogenomics and Prenatal testing. Impressively, the company recorded its second consecutive year of double-digit expansion, underscoring the success of its multi-year investment strategy.Notable highlights in the quarter include a strategic partnership with jscreen to combine Myriad Genetics’ high-quality hereditary cancer and reproductive genetics products, MyRisk with RiskScore and Foresight Carrier Screen, with jscreen’s trusted education and genetic care navigation program. The expansion of the gross margin is also highly encouraging.Meanwhile, the company announced a strategic collaboration with PATHOMIQ to add AI technology to its Oncology portfolio, including an exclusive license of their AI technology platform for prostate cancer. The partnership complements Myriad Genetics’ existing offerings of combined germline and comprehensive tumor profiling as recommended by NCCN guidelines for prostate cancer care.MYGN’s Zacks Rank & Key PicksMYGN currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks from the broader medical space are ResMed RMD, Cardinal Health CAH and Insulet PODD.ResMed reported a second-quarter fiscal 2025 adjusted EPS of $2.43, which topped the Zacks Consensus Estimate by 5.6%. Revenues of $1.28 billion exceeded the Zacks Consensus Estimate by 1.6%. RMD carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.RMD has an estimated fiscal 2025 earnings growth rate of 21.9% compared with the industry’s 13.2%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 6.9%.Cardinal Health, carrying a Zacks Rank #2, posted a second-quarter fiscal 2025 adjusted EPS of $1.93, topping the Zacks Consensus Estimate by 10.3%. Revenues of $55.26 billion exceeded the Zacks Consensus Estimate by 0.7%.CAH has an estimated five-year earnings growth rate of 10.7% compared with the industry’s 9.3%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 9.6%.Insulet, carrying a Zacks Rank #2, posted a fourth-quarter 2024 adjusted EPS of $1.15, topping the Zacks Consensus Estimate by 9.5%. Revenues of $597.5 million exceeded the Zacks Consensus Estimate by 2.7%.PODD has an estimated long-term earnings growth rate of 20.3% compared with the industry’s 15.5% growth. The company’s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 27.5%.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cardinal Health, Inc. (CAH): Free Stock Analysis Report ResMed Inc. (RMD): Free Stock Analysis Report Myriad Genetics, Inc. (MYGN): Free Stock Analysis Report Insulet Corporation (PODD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks