DexCom (DXCM) Tops Q1 EPS by 30c; Withdraws Outlook

DexCom (NASDAQ: DXCM) reported Q1 EPS of $0.44, $0.30 better than the analyst estimate of $0.14. Revenue for the quarter came in at $405.1 million versus the consensus estimate of $357.64 million.

“Our strong first quarter results demonstrate the continued momentum in our business, driven by growing awareness and customer satisfaction with our G6 CGM technology.” said Kevin Sayer, Dexcom’s Chairman, President and CEO. “From the outset of the COVID-19 pandemic, the Dexcom teams have worked tirelessly to prioritize the safety of our employees, excellent service to our customer base, and the needs of the broader healthcare community. We continue to monitor developments in this unprecedented situation and are pressing forward with our key initiatives in support of Dexcom’s long-term growth opportunity.”

GUIDANCE:

Dexcom is temporarily suspending its 2020 guidance, which was previously issued on February 13, 2020, due to uncertainties related to the duration and scope of the COVID-19 pandemic. During the crisis, the company has seen benefits in the shift to telemedicine and growing appreciation for Dexcom’s real-time connectivity for virtual diabetes care as well as patient monitoring in the hospital setting. Concurrently, the company anticipates some impact to new patients during the period of broad stay-at-home orders and as clinicians shift to adopt virtual care models.

Dexcom plans to monitor these potential positive and negative impacts closely and may provide an update as greater visibility on the future outlook develops.

For earnings history and earnings-related data on DexCom (DXCM) click here.

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