Myriad Genetics, a genetic testing company based in Salt Lake City, has announced that it is expecting its fourth-quarter revenue to surpass expectations, according to preliminary results. In a regulatory filing on Tuesday, the company stated that it foresees revenue in the range of $196 million to $197 million for the quarter ending on December 31. This projection outperforms the consensus estimate of $194.8 million provided by analysts polled by FactSet.
Furthermore, Myriad Genetics anticipates a per-share loss of 35 cents to 36 cents for the quarter, showing significant improvement compared to the 52-cent loss reported a year ago. However, analysts polled by FactSet have forecasted a narrower loss of 21 cents per share.
Additionally, the company has projected an adjusted profit of 2 cents to 3 cents per share. In contrast, analysts surveyed by FactSet predict an adjusted per-share profit of 1 cent.
Looking ahead, Myriad Genetics expects full-year revenue to exhibit a minimum growth of 10% compared to the previous year. This aligns with their earlier guidance of achieving a growth rate between 10% and 11% throughout 2022.
In conclusion, Myriad Genetics appears poised to surpass market expectations, demonstrating positive financial prospects for the upcoming quarter and the entire year.