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Abiomed beats The Street in Q4 results

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AbiomedAbiomed (Nasdaq:ABMD) posted fourth-quarter results today that beat the overall consensus on Wall Street.

The Danvers, Massachusetts-based company reported profits of $60.3 million, or $1.31 per share, on sales of $269.9 million for the three months ended December 31, for a bottom-line gain of 6.1% on sales growth of 11.86% compared with Q4 2021.

Adjusted to exclude one-time items, earnings per share were $1.16, 7¢ ahead of The Street, where analysts were looking for sales of $267.67 million.

“This was a solid report with no major surprises, and we are pleased the revenue and operating margin outlook was in line with expectations given the Fx headwinds and macroeconomic pressures being seen across the sector,” BTIG analysts Marie Thibault and Sam Eiber said.

Abiomed expects 2023 global revenue to be in the range of $1.14 billion to $1.18 billion to represent 13% to 17% growth in constant currency.

“In fiscal year 2022, we delivered record results in a challenging environment and invested at record levels in innovation, advanced clinical evidence and further strengthened our premier commercial team,” CEO Michael Minogue said in a news release. “I am proud of our customers and employees for their grit and dedication; they are the source of these impressive accomplishments during the year.”

Shares in ABMD were up 3.64% to $287.22 apiece at market close.

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