Align Technology (ALGN) Tops Q3 EPS by 14c

Align Technology (NASDAQ: ALGN) reported Q3 EPS of $1.28, $0.14 better than the analyst estimate of $1.14. Revenue for the quarter came in at $607.3 billion versus the consensus estimate of $593.97 billion.

Commenting on Align’s third quarter results, Align Technology President and CEO Joe Hogan said, “I’m pleased to report revenues, volume, and earnings above our third quarter outlook driven by better than expected volume across the Invisalign portfolio in Asia Pacific and Latin America, reflecting record highs for both regions and improving trends in the North American orthodontic channel. Notwithstanding EMEA summer seasonality, we saw continued adoption from teens and especially younger patients using Invisalign First across the board. Q3 Invisalign volumes were up 20.7% year-over-year driven by growth across the product portfolio, as well as expansion of our customer base, which increased by 6,000 new Invisalign doctors for a total of 63,000 active doctors worldwide. The iTero scanner and services business was up 16.5% year over year reflecting continue growth across each region, and down sequentially as expected coming off a record second quarter.”

GUIDANCE:

Align Technology sees Q4 2019 EPS of $1.35-$1.42, versus the consensus of $1.35. Align Technology sees Q4 2019 revenue of $640-650 billion, versus the consensus of $639.2 billion.

For earnings history and earnings-related data on Align Technology (ALGN) click here.

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