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ABIOMED (ABMD) Earnings Beat Estimates in Q3, Revenues Miss

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Headquartered in Danvers, MA, ABIOMED Inc. (ABMD - Free Report) is engaged in developing, manufacturing and marketing of medical products, designed to assist or replace the pumping function of the failing heart.

Currently, ABIOMED has a Zacks Rank #4 (Sell) but that could change following its third quarter fiscal 2020 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here) the complete list of today’s Zacks #1 Rank stocks here). We have highlighted some of the key details from the just-released announcement below:

Earnings: ABIOMED reported third-quarter fiscal 2020 earnings per share (EPS) of $1.51, outpacing the Zacks Consensus Estimate of $1.09. The figure surged 55.7% year over year.

Revenues: ABIOMED’s revenues came in at $221.6 million, which lagged the Zacks Consensus Estimate of $227 million. However, the metric improved 10.5% from the prior-year quarter.

ABIOMED, Inc. Price, Consensus and EPS Surprise

ABIOMED, Inc. Price, Consensus and EPS Surprise

ABIOMED, Inc. price-consensus-eps-surprise-chart | ABIOMED, Inc. Quote

Key Stats: U.S. Impella product revenues totaled $185.6 million, showing an increase of 8% year over year. Per management, U.S. patient usage of the Impella heart pumps rose 5% in the quarter.

For fiscal 2020, ABIOMED expects revenues within $846-$877 million, mirroring an increase of 10-14%. This compares to the earlier-projected range of $885-$925 million, calling for an increase of 15-20% year over year.

Check back later for our full write up on this ABIOMED report later!

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