Penumbra, Inc. (PEN) Tops Q3 EPS by 16c, reiterates guidance

Penumbra, Inc. (NYSE: PEN) reported Q3 EPS of $0.85, $0.16 better than the analyst estimate of $0.69. Revenue for the quarter came in at $301 million versus the consensus estimate of $297.35 million.

GUIDANCE:

Penumbra, Inc. sees FY2024 revenue of $1.18-1.2 billion. The Company now expects the U.S. thrombectomy franchise will grow 24% to 25% year-over-year, compared to 23% to 25% previously. Excluding the impact from the Immersive Healthcare impairments, the Company also continues to expect gross margin expansion in the range of 100 to 150 basis points and total non-GAAP operating margin expansion in the range of 100 to 200 basis points in 2024 compared to full year 2023.

For earnings history and earnings-related data on Penumbra, Inc. (PEN) click here.

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