Fertility benefits company Progyny (NASDAQ: PGNY) will be reporting results this Thursday after market hours. Here’s what to expect.
Progyny beat analysts’ revenue expectations by 3.9% last quarter, reporting revenues of $332.9 million, up 9.5% year on year. It was an exceptional quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EPS guidance for next quarter estimates.
Is Progyny a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Progyny’s revenue to grow 4.4% year on year to $299.3 million, improving from the 2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.39 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Progyny has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Progyny’s peers in the health insurance providers segment, some have already reported their Q3 results, giving us a hint as to what we can expect. CVS Health delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 4.1%, and Centene reported revenues up 18.2%, topping estimates by 3.7%. CVS Health traded down 6.7% following the results while Centene was up 5.5%.
Read our full analysis of CVS Health’s results here and Centene’s results here.
Investors in the health insurance providers segment have had steady hands going into earnings, with share prices flat over the last month. Progyny is down 8.3% during the same time and is heading into earnings with an average analyst price target of $28.25 (compared to the current share price of $18.51).
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