Shares of GeneDx (WGS) were hammered on Wednesday after the company reported adjusted earnings of 28 per share on $87.1 million in first-quarter sales.
Analysts polled by FactSet expected the diagnostics company to earn 6 cents per share on $79.5 million in sales. In the year-earlier period, GeneDx lost 33 cents a share and had $62.4 million in sales.
n a strict, as-reported basis GeneDx lost 23 cents a share, but that narrowed from a 78-cent per-share loss in the year-earlier period and beat expectations. by 4 cents a share.
GeneDx raised its guidance for the year and now expects $360 million to $375 million in sales. The Street projected earnings of 87 cents a share and $358.9 million in sales.
In premarket trades, GeneDx stock crashed 26.8% to 85.63.
https://www.investors.com/news/technology/genedx-stock-genedx-earninga-q1-2025/
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