Diagnostics company Guardant Health (NASDAQ: GH) will be reporting results this Wednesday after the bell. Here’s what to expect.
Guardant Health beat analysts’ revenue expectations by 6.9% last quarter, reporting revenues of $203.5 million, up 20.8% year on year. It was a stunning quarter for the company, with full-year revenue guidance exceeding analysts’ expectations and an impressive beat of analysts’ sales volume estimates.
Is Guardant Health a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Guardant Health’s revenue to grow 19.1% year on year to $211.1 million, slowing from the 29.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.51 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Guardant Health has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 6.8% on average.
Looking at Guardant Health’s peers in the healthcare providers & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Quest delivered year-on-year revenue growth of 15.2%, beating analysts’ expectations by 1.4%, and Labcorp reported revenues up 9.5%, topping estimates by 1%. Quest traded up 2.3% following the results while Labcorp was also up 5.6%.
Read our full analysis of Quest’s results here and Labcorp’s results here.
Investors in the healthcare providers & services segment have had steady hands going into earnings, with share prices flat over the last month. Guardant Health is down 14.8% during the same time and is heading into earnings with an average analyst price target of $60.23 (compared to the current share price of $44.35).
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