Penumbra's (PEN) Q3 Earnings & Revenues Surpass Estimates
Zacks Investment Research | Nov 11, 2019 07:34AM ET
Penumbra, Inc.’s (NYSE:PEN) third-quarter 2019 adjusted earnings per share (EPS) of 25 cents improved 47.1% year over year. The adjustments exclude certain one-time excess tax benefits related to stock compensation awards. The figure also surpassed the Zacks Consensus Estimate by 38.9%.
On a GAAP basis, EPS came in at 32 cents, as against the year-ago loss of 55 cents.
Revenues in the quarter rose 24.8% year over year (up 25.5% at constant exchange rate or CER) to $139.5 million, exceeding the Zacks Consensus Estimate by 4.5%.
On a geographic basis, third-quarter revenues in the United States (representing 65% of total sales) grossed $90.3 million, up 23.7% from the year-ago quarter (same at CER). Meanwhile, international sales (35% of total sales) advanced 26.8% year over year (up 29% at CER) to $49.2 million.
Going by product category, revenues from neuro products grew 11.5% (up 12.4% at CER) to $83.2 million in the quarter under review. Revenues from peripheral vascular product business rose to $56.3 million in the quarter, reflecting a surge of 51.6% (up 52% at CER) year over year.
Penumbra, Inc. Price, Consensus and EPS Surprise
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