Abiomed (NSDQ:ABMD) posted second-quarter results this week that beat the overall consensus on Wall Street.
The Danvers, Massachusetts-based cardiovascular device company reported profits of $56.95 million, or $1.24 per share, on sales of $248.1 million for the three months ended September 30, for a bottom-line loss of -8.5% on sales growth of 18.3% compared with Q2 2020.
Adjusted to exclude one-time items, earnings per share were $1.03, 6¢ ahead of The Street, where analysts were looking for sales of $247.7 million.
“In Q2, we made progress on product innovation and regulatory milestones while leveraging our commercial field team and Abiomed 2.0 Playbook in a challenging environment,” president and CEO Michael Minogue said in a news release. “Abiomed remains focused on disciplined execution and sustainable growth as we continue to pursue our goal of becoming the global standard of care for heart pumps that recover hearts and save lives.”
Abiomed lowered its full year 2022 revenue guidance from the range of $1.03 billion to $1.05 billion to a new projection of $1.01 billion to $1.03 billion, representing an increase of 19% to 22% compared to fiscal year 2021.
Shares in ABMD were down -4.75% to $328.20 apiece in mid-morning trading.