Omnicell , Inc. (NASDAQ:OMCL) reported third-quarter earnings that surpassed analyst estimates, driven by solid financial performance and signs of stabilization in the healthcare sector. The pharmacy automation company's shares rose 1% following the announcement.
Omnicell posted adjusted earnings per share of $0.56, beating the analyst consensus of $0.42 by $0.14. Revenue for the quarter came in at $282 million, slightly above the expected $280.45 million.
The company's total revenues decreased 5% YoY to $282 million, reflecting challenges faced by some health system customers and the timing of the XT Series automated dispensing systems lifecycle. Despite this, Omnicell delivered non-GAAP net income of $26 million, or $0.56 per diluted share.
"We are pleased to deliver another consecutive quarter of solid financial performance, with results within or exceeding each of our previously issued guidance ranges," said Randall Lipps, chairman, president, CEO, and founder of Omnicell.
Looking ahead, Omnicell raised its full-year 2024 guidance. The company now expects non-GAAP earnings per share between $1.65 and $1.72, up from the previous forecast and above the analyst consensus of $1.43. Full-year revenue is projected to be between $1.100 billion and $1.110 billion.
For the fourth quarter, Omnicell anticipates revenue between $295 million and $305 million, exceeding the analyst estimate of $287.7 million. The company expects Q4 non-GAAP earnings per share in the range of $0.55 to $0.62, also above the consensus of $0.47.
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