Medical products company UFP Technologies (NASDAQ:UFPT) will be reporting results this Monday after market hours. Here’s what you need to know.
UFP Technologies met analysts’ revenue expectations last quarter, reporting revenues of $154.2 million, up 4.1% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates.
Is UFP Technologies a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting UFP Technologies’s revenue to grow 5.4% year on year, slowing from the 37.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. UFP Technologies has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at UFP Technologies’s peers in the drug development inputs & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Fortrea’s revenues decreased 4.5% year on year, beating analysts’ expectations by 4.7%, and Medpace reported revenues up 17.2%, topping estimates by 2.6%. Fortrea traded down 7.8% following the results while Medpace was up 14.7%.
Read our full analysis of Fortrea’s results here and Medpace’s results here.
Investors in the drug development inputs & services segment have had steady hands going into earnings, with share prices flat over the last month. UFP Technologies is down 6.3% during the same time and is heading into earnings with an average analyst price target of $324.50 (compared to the current share price of $254.78).
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