Inogen (INGN) Tops Q2 EPS by 33c

Inogen (NASDAQ: INGN) reported Q2 EPS of $0.22, $0.33 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $101.6 million versus the consensus estimate of $88.75 million.

“We saw strong revenue growth of 41.7% as compared to the second quarter of 2020, when the COVID-19 pandemic drove a significant negative impact on our business,” said Inogen’s President and Chief Executive Officer, Nabil Shabshab. “We are pleased with the recovery in our core business. Demand and average selling prices for portable oxygen concentrators increased primarily due to higher consumer confidence and higher COVID-19 vaccination rates leading to increased patient ambulation in the second quarter of 2021. While we are confident in the underlying strength of our business, we are navigating rising costs and supply chain constraints like many companies across the globe. The semiconductor chip shortage is impacting our ability to supply our customers with batteries and portable oxygen concentrators. As a result, we expect revenue growth constraints and a higher cost of goods sold per unit starting in the third quarter of 2021 versus the first half of 2021 until chip availability increases.”

For earnings history and earnings-related data on Inogen (INGN) click here.

You May Also Be Interested In

• Growth isn't weak enough to truly undercut inflation pressures - BMO
• Park National Corp. (PRK) Tops Q1 EPS by 36c
• Senesco Technologies, Inc. (SNT) Reports Q1 EPS of $0.02