Align Technology Reports Mixed Q3 Results, Beats Earnings Estimate

Align Technology Inc.'s third-quarter results show a decline in earnings but exceeded earnings per share expectations. Revenue, however, experienced modest growth, influencing investor outlook.

Date: 24-10-2024

AI Rating: 6

Align Technology Inc. (ALGN) has reported its third-quarter earnings, which indicate a decrease in net income compared to the same period last year. Specifically, the company's net income totaled $115.96 million, down from $121.43 million in the prior year's quarter. This translates to an EPS (Earnings Per Share) of $1.55, compared to $1.58 in the previous year.

Despite this decline, the company beat analysts' expectations, with the adjusted earnings reported at $175.62 million or $2.35 per share, surpassing the anticipated $2.31 per share according to analysts' estimates that usually exclude special items.

Furthermore, Align Technology's revenue growth for the quarter showed an increase of 1.8%, moving up to $977.87 million from $960.21 million a year ago. This modest positive growth could signal resilience in the business amidst earnings challenges.

The company's guidance for the next quarter indicates expected revenue between $995 million and $1,015 million, which reflects optimism for continued growth.

Stocks: ALGN