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Insulet (PODD) to Report Q3 Earnings: What's in the Cards?
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Insulet (PODD - Free Report) is scheduled to report third-quarter 2023 results on Nov 1, after market close.
In the last reported quarter, the company’s adjusted earnings per share of 38 cents surpassed the Zacks Consensus Estimate by 58.33%. Insulet beat earnings estimates in each of the trailing four quarters, the average beat being 126.94%.
Let’s take a look at how things have shaped up prior to this announcement.
Factors at Play
Insulet is consistently gaining in terms of business expansion through its consumer-focused innovation and clinical achievements. The company is taking several strategic initiatives, including expanded access and awareness, to drive penetration and benefit from the massive market opportunity.
In the third quarter, Omnipod revenue growth is expected to have been driven by its annuity-based model with consecutive record new customer starts and growing U.S. pharmacy volume. This includes an increasing contribution from Omnipod 5 and a premium for the Omnipod 5 and Omnipod DASH pods in U.S. pharmacies, where the company provides Personal Diabetes Manager at no charge. Further,the company is expected to have seen strong revenue contribution from Omnipod 5’s launch in several international markets.
In the second quarter, Omnipod 5 disrupted the diabetes technology market as the only FDA-approved, fully disposable, pod-based automated insulin delivery system.Omnipod 5represented almost 95% of the company’s U.S. new customer starts in the second quarter. This trend is expected to have driven Insulet’s U.S. revenue growth in the third quarter as well. According to Insulet, Omnipod 5 continues to have a broad appeal and attracts substantial new customer starts across all age groups.
Further, global new customer starts are expected to have been strong in the third quarter. In this regard, recently, the company launched Omnipod 5 commercially in the United Kingdom and Germany. These are expected to have contributed to the company’s international Omnipod revenues in the third quarter.
Meanwhile, like the second quarter, we expect Insulet to report continued strong adoption of Omnipod DASH in the international markets. However, this might have been partially dragged by Automated Insulin Delivery (AID) systems competitive headwinds.
Our model projects the segment’s revenues for the third quarter to improve 23% year over year to $401.3 million.
Within Drug Delivery, most of Insulet’s drug delivery revenues currently consist of sales of pods to Amgen for use in the Neulasta Onpro kit, a delivery system for Amgen’s Neulasta to help reduce the risk of infection after intense chemotherapy. The company has been performing sluggishly within this business due to lower demand from its partner. For full-year 2023, the company expects Drug Delivery revenues to decline in the range of $26 million to $29 million. This might be reflected in the third-quarter performance.
Our model projects segment revenues for the third quarter to decline 25.9% year over year to $10.9 million.
Overall, a strong commercial performance in the third quarter might have been partly dented by a challenging macroeconomic environment and currency headwinds.
Q3 Estimates
The Zacks Consensus Estimate for Insulet’s third-quarter 2023 revenues is pegged at $413.8 million, suggesting a rise of 21.4% from the year-ago reported figure.
The Zacks Consensus Estimate for its third-quarter 2023 EPS is 40 cents, indicating a year-over-year decline of 11.1%.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) along with a positive Earnings ESP has higher chances of beating estimates. This is exactly the case here, as you can see:
Earnings ESP: The company has an Earnings ESP of +6.61%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2.
Other Stocks Worth a Look
Here are some other medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter, per our model.
LGND’s earnings surpassed estimates in three of the trailing four quarters and missed once, with the average surprise being 52.47%. The Zacks Consensus Estimate for Ligand Pharmaceuticals’ third-quarter EPS indicates an increase of 65.9% from the year-ago reported figure.
Catalyst Pharmaceuticals (CPRX - Free Report) has an Earnings ESP of +35.54% and a Zacks Rank #2. The company is expected to release third-quarter 2023 results shortly.
CPRX’s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 7.17%. The Zacks Consensus Estimate for Catalyst Pharmaceuticals’ third-quarter 2023 EPS implies an increase of 50% from the year-ago reported figure.
Spero Therapeutics (SPRO - Free Report) currently has an Earnings ESP of +60.00% and a Zacks Rank #2. The company is expected to release third-quarter 2023 results shortly.
SPRO’s earnings surpassed estimates in all the trailing four quarters, with the average surprise being 72.4%. The Zacks Consensus Estimate for Spero Therapeutics’ fiscal 2023 third-quarter loss per share indicates an improvement of 54.6% from the year-ago reported figure.
Image: Bigstock
Insulet (PODD) to Report Q3 Earnings: What's in the Cards?
Insulet (PODD - Free Report) is scheduled to report third-quarter 2023 results on Nov 1, after market close.
In the last reported quarter, the company’s adjusted earnings per share of 38 cents surpassed the Zacks Consensus Estimate by 58.33%. Insulet beat earnings estimates in each of the trailing four quarters, the average beat being 126.94%.
Let’s take a look at how things have shaped up prior to this announcement.
Factors at Play
Insulet is consistently gaining in terms of business expansion through its consumer-focused innovation and clinical achievements. The company is taking several strategic initiatives, including expanded access and awareness, to drive penetration and benefit from the massive market opportunity.
In the third quarter, Omnipod revenue growth is expected to have been driven by its annuity-based model with consecutive record new customer starts and growing U.S. pharmacy volume. This includes an increasing contribution from Omnipod 5 and a premium for the Omnipod 5 and Omnipod DASH pods in U.S. pharmacies, where the company provides Personal Diabetes Manager at no charge. Further,the company is expected to have seen strong revenue contribution from Omnipod 5’s launch in several international markets.
In the second quarter, Omnipod 5 disrupted the diabetes technology market as the only FDA-approved, fully disposable, pod-based automated insulin delivery system.Omnipod 5represented almost 95% of the company’s U.S. new customer starts in the second quarter. This trend is expected to have driven Insulet’s U.S. revenue growth in the third quarter as well. According to Insulet, Omnipod 5 continues to have a broad appeal and attracts substantial new customer starts across all age groups.
Insulet Corporation Price and EPS Surprise
Insulet Corporation price-eps-surprise | Insulet Corporation Quote
Further, global new customer starts are expected to have been strong in the third quarter. In this regard, recently, the company launched Omnipod 5 commercially in the United Kingdom and Germany. These are expected to have contributed to the company’s international Omnipod revenues in the third quarter.
Meanwhile, like the second quarter, we expect Insulet to report continued strong adoption of Omnipod DASH in the international markets. However, this might have been partially dragged by Automated Insulin Delivery (AID) systems competitive headwinds.
Our model projects the segment’s revenues for the third quarter to improve 23% year over year to $401.3 million.
Within Drug Delivery, most of Insulet’s drug delivery revenues currently consist of sales of pods to Amgen for use in the Neulasta Onpro kit, a delivery system for Amgen’s Neulasta to help reduce the risk of infection after intense chemotherapy. The company has been performing sluggishly within this business due to lower demand from its partner. For full-year 2023, the company expects Drug Delivery revenues to decline in the range of $26 million to $29 million. This might be reflected in the third-quarter performance.
Our model projects segment revenues for the third quarter to decline 25.9% year over year to $10.9 million.
Overall, a strong commercial performance in the third quarter might have been partly dented by a challenging macroeconomic environment and currency headwinds.
Q3 Estimates
The Zacks Consensus Estimate for Insulet’s third-quarter 2023 revenues is pegged at $413.8 million, suggesting a rise of 21.4% from the year-ago reported figure.
The Zacks Consensus Estimate for its third-quarter 2023 EPS is 40 cents, indicating a year-over-year decline of 11.1%.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) along with a positive Earnings ESP has higher chances of beating estimates. This is exactly the case here, as you can see:
Earnings ESP: The company has an Earnings ESP of +6.61%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2.
Other Stocks Worth a Look
Here are some other medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter, per our model.
Ligand Pharmaceuticals (LGND - Free Report) has an Earnings ESP of +2.94% and a Zacks Rank #1 (Strong Buy). The company is expected to release third-quarter 2023 results soon. You can see the complete list of today’s Zacks #1 Rank stocks here.
LGND’s earnings surpassed estimates in three of the trailing four quarters and missed once, with the average surprise being 52.47%. The Zacks Consensus Estimate for Ligand Pharmaceuticals’ third-quarter EPS indicates an increase of 65.9% from the year-ago reported figure.
Catalyst Pharmaceuticals (CPRX - Free Report) has an Earnings ESP of +35.54% and a Zacks Rank #2. The company is expected to release third-quarter 2023 results shortly.
CPRX’s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 7.17%. The Zacks Consensus Estimate for Catalyst Pharmaceuticals’ third-quarter 2023 EPS implies an increase of 50% from the year-ago reported figure.
Spero Therapeutics (SPRO - Free Report) currently has an Earnings ESP of +60.00% and a Zacks Rank #2. The company is expected to release third-quarter 2023 results shortly.
SPRO’s earnings surpassed estimates in all the trailing four quarters, with the average surprise being 72.4%. The Zacks Consensus Estimate for Spero Therapeutics’ fiscal 2023 third-quarter loss per share indicates an improvement of 54.6% from the year-ago reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.