Elutia misses earnings by $0.02, revenue below estimates
Specialty pharma firm Elutia reported adjusted earnings per share of $0.48, missing the $0.50 forecast. Revenue declined 3% year-over-year to $125 million.
Elutia on Tuesday reported adjusted earnings per share of $0.48 for the quarter, falling short of the $0.50 estimate by analysts polled by Reuters. Revenue totaled $125 million, down 3% from the same period last year and below the $130 million consensus.
The specialty pharmaceutical company cited weaker demand for key products and supply chain disruptions as primary factors behind the shortfall. Gross margin contracted to 62% from 65% in the prior-year quarter, reflecting higher production costs.
Elutia maintained its full-year guidance, reaffirming adjusted EPS in the range of $2.10 to $2.20 and revenue between $520 million and $540 million. The company expects these targets to be achievable despite near-term headwinds.
Shares of Elutia were down 4% in pre-market trading following the release.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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