Repligen Q3 Earnings Beat Expectations, Highlights Improving Market Conditions, Analyst Says Well-Positioned For Long-Term Growth

Repligen Corp (NASDAQ:RGEN) released on Tuesday third-quarter adjusted EPS of 43 cents, up from 23 cents a year ago, beating the consensus of 33 cents.

The bioprocessing technology reported sales of $154.87 million, up 10% year-over-year, beating the consensus of $153.23 million.

Olivier Loeillot, president and CEO of Repligen, said, "I'm pleased to report strong third-quarter results, made possible by the excellent execution by our team and improving market conditions. We are encouraged to see strengthening CDMO and equipment sales in the quarter, each delivering year-over-year and sequential growth.”

The company reported record quarterly revenue for new modalities, a 20% increase year over year. CDMO and equipment revenues grew ~20% and 6% year-over-year, respectively, adding to confidence in a broader market recovery.

Guidance: ...