Exact Sciences (EXAS) Misses Q2 EPS by 27c, Revenue Beats

Exact Sciences (NASDAQ: EXAS) reported Q2 EPS of ($1.03), $0.27 worse than the analyst estimate of ($0.76). Revenue for the quarter came in at $434.8 million versus the consensus estimate of $421.28 million.

GUIDANCE:

Exact Sciences sees FY2021 revenue of $1.71-1.75 billion, versus the consensus of $1.72 billion.

• The company anticipates revenue of $1,705-$1,745 million, including Screening revenue of $1,100-$1,125 million, Precision Oncology revenue of $530-$540 million, and COVID-19 testing revenue of $75-$80 million.
• Updated guidance is an increase from previously expected revenue of $1,690-$1,735 million, which included Screening revenue of $1,125-$1,150 million, Precision Oncology revenue of $515-$525 million, and COVID-19 testing revenue of $50-$60 million.
• Lower Screening revenue expectations are primarily due to the one-time downward revenue adjustment of $12.1 million referenced above and COVID-19 dynamics negatively impacting the business, including reduced physician office access for our field sales teams and fewer patient wellness visits.

For earnings history and earnings-related data on Exact Sciences (EXAS) click here.

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