Insulet (PODD) Tops Q2 EPS by 22c, Revs Beat

Insulet (NASDAQ: PODD) reported Q2 EPS of $0.22, $0.22 better than the analyst estimate of $0.00. Revenue for the quarter came in at $226.3 million versus the consensus estimate of $212.41 million.

"Thanks to our team’s relentless focus on our mission and the strength and durability of our recurring revenue model, we delivered another quarter of financial and operational results that exceeded our expectations,” said Shacey Petrovic, President and Chief Executive Officer. “Our strong financial profile allows us to continue to invest in our business and advance important initiatives, including continuing clinical trials, maintaining uninterrupted supply of Omnipod, and growing our global customer base. We are confident in the steps we are taking to mitigate the impact of COVID-19 on our business and we remain well positioned to drive robust organic growth and value creation, and deliver on our mission to improve the lives of people with diabetes.”

GUIDANCE:

Revenue Guidance (in constant currency):

• For the year ending December 31, 2020, the Company is raising its revenue guidance growth range to 17% to 19% (previously 15%). By product line, the Company now expects:
  • Total Omnipod to be 18% to 20% (previously 18%)
    • U.S. Omnipod to be 19% to 21% (previously 19%)
    • International Omnipod to be 17% to 19% (previously 16%)
  • Drug Delivery to be 3% to 6% (previously at the mid-point of a 15% to 20% decline)
• For the quarter ending September 30, 2020, the Company expects revenue growth of 13% to 15%. Revenue growth ranges by product line are:
  • Total Omnipod of 12% to 14%
    • U.S. Omnipod of 14% to 16%
    • International Omnipod of 9% to 11%
  • Drug Delivery of 23% to 28%

For earnings history and earnings-related data on Insulet (PODD) click here.

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