Align Technology (ALGN) Tops Q2 EPS by 32c; Lowers Outlook
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Align Technology (NASDAQ: ALGN) reported Q2 EPS of $1.83, $0.32 better than the analyst estimate of $1.51. Revenue for the quarter came in at $600.7 million versus the consensus estimate of $599.38 million.
Commenting on Align’s second quarter results and outlook for the third quarter, Align Technology President and CEO Joe Hogan said, “Our second quarter revenues were at the high-end of our guidance, reflecting Invisalign volume growth primarily from international doctors, as well as very strong sales from iTero scanner and services. Q2 Invisalign volumes were up 24.6% year-over-year reflecting continued adoption from teenage and younger patients, as well as increased utilization among orthodontists and expansion of our customer base which totaled 60,000 active doctors worldwide. In Q2, total Invisalign case shipments were lower than expected, primarily due to a softness in China related to a tougher consumer environment and slower growth in young adult case in North America. Given the uncertainty in China, our outlook for the third quarter reflects a more cautious view for growth in the Asia Pacific region.”
Align Technology sees Q3 2019 EPS of $1.09-$1.16, versus the consensus of $1.44. Align Technology sees Q3 2019 revenue of $585-600 million, versus the consensus of $623.7 million.
For earnings history and earnings-related data on Align Technology (ALGN) click here.
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