Cutera Inc (CUTR - Free Report) recently announced preliminary unaudited financial results for full year ended December 2022. The company expects revenues to be in the range of $252-$253 million, up 15-16% year over year on a constant-currency basis. The previously guided revenues were in the range of $255-$260 million.
The Zacks Consensus Estimate for 2022 revenues is pegged at $257.4 million, up 11.3% on a year-over-year basis. For the fourth quarter, the Zacks Consensus Estimate for revenues is pegged at $72.4 million, indicating year-over-year growth of 10.2%.
These results are subject to the completion of Cutera’s year-end financial reporting processes, and reviews as well as audit, noted the company. The company is scheduled to release its fourth quarter and full-year 2022 results on Feb 28.
Brisbane, CA-based Cutera designs, develops, manufactures and markets aesthetic and dermatology solutions for use in laser and other light-based aesthetic applications.
Cutera benefits from significant capital equipment and consumable products demand. In the last reported quarter, consumable products’ revenues were up 66% (up 74% on a constant-currency basis), driven by strong underlying treatment volumes and addition of AviClear patient procedure revenues. Capital equipment’s sales surged 27% (up 32% in constant currency) on a year-over-year basis.
However, increasing expenses remain a major headwind amid global macroeconomic turmoil. Operating expenses were $43.7 million, up 33.2% year over year in the third quarter. Also, the rapid devaluation of the Japanese Yen against the US dollar has been concerning.
At present, Cutera carries a Zacks Rank #3 (Hold). Shares of the company have lost 22.3% compared with the sub-industry’s decline of 42.2% in the past year.
Stocks to Consider
Some better-ranked stocks from the broader technology space are Arista Networks (ANET - Free Report) , Jabil (JBL - Free Report) and Pure Storage (PSTG - Free Report) . While Arista and Jabil sport a Zacks Rank #1 (Strong Buy), Pure Storage carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks’ 2022 earnings is pegged at $4.37 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 9.1% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.31 per share, rising 1.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have increased 7.5% in the past year.
The Zacks Consensus Estimate for Pure Storage’s fiscal 2023 earnings is pegged at $1.28 per share, up 8.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 21.3%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 156%. Shares of PSTG have declined 3.9% in the past year.
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1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
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Cutera Inc (CUTR - Free Report) recently announced preliminary unaudited financial results for full year ended December 2022. The company expects revenues to be in the range of $252-$253 million, up 15-16% year over year on a constant-currency basis. The previously guided revenues were in the range of $255-$260 million.
The Zacks Consensus Estimate for 2022 revenues is pegged at $257.4 million, up 11.3% on a year-over-year basis. For the fourth quarter, the Zacks Consensus Estimate for revenues is pegged at $72.4 million, indicating year-over-year growth of 10.2%.
These results are subject to the completion of Cutera’s year-end financial reporting processes, and reviews as well as audit, noted the company. The company is scheduled to release its fourth quarter and full-year 2022 results on Feb 28.
Brisbane, CA-based Cutera designs, develops, manufactures and markets aesthetic and dermatology solutions for use in laser and other light-based aesthetic applications.
Cutera benefits from significant capital equipment and consumable products demand. In the last reported quarter, consumable products’ revenues were up 66% (up 74% on a constant-currency basis), driven by strong underlying treatment volumes and addition of AviClear patient procedure revenues. Capital equipment’s sales surged 27% (up 32% in constant currency) on a year-over-year basis.
However, increasing expenses remain a major headwind amid global macroeconomic turmoil. Operating expenses were $43.7 million, up 33.2% year over year in the third quarter. Also, the rapid devaluation of the Japanese Yen against the US dollar has been concerning.
At present, Cutera carries a Zacks Rank #3 (Hold). Shares of the company have lost 22.3% compared with the sub-industry’s decline of 42.2% in the past year.
Stocks to Consider
Some better-ranked stocks from the broader technology space are Arista Networks (ANET - Free Report) , Jabil (JBL - Free Report) and Pure Storage (PSTG - Free Report) . While Arista and Jabil sport a Zacks Rank #1 (Strong Buy), Pure Storage carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks’ 2022 earnings is pegged at $4.37 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 9.1% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.31 per share, rising 1.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have increased 7.5% in the past year.
The Zacks Consensus Estimate for Pure Storage’s fiscal 2023 earnings is pegged at $1.28 per share, up 8.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 21.3%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 156%. Shares of PSTG have declined 3.9% in the past year.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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