SeaSpine Holdings Corporation Down 2.86% To $6.28 After Earnings Miss

SeaSpine Holdings Corp (SPNE) reported less than expected earnings this afternoon for Q3 2022.

Wall Street earnings per share (EPS) projections for SeaSpine Holdings Corporation were at a loss of $0.30 per share. The company missed those estimates with an EPS loss of $0.42 per share. The loss of $0.42 per share (which represents a -40% EPS surprise) led to the company's profits rising 13% compared to last year when the firm reported an EPS loss of $0.48 per share. The increase in SeaSpine Holdings Corporation's annual growth rate represents how the business is performing well amid recent economic conditions.

Analyst projections for SeaSpine Holdings Corporation revenue came in at a consensus of $65.7 million. Third-Quarter revenues surpassed estimates for $67.1 million by $1.5 million (2%). The company achieved 45% growth year-over-year compared to the firm's revenue of $46.4 million from the year-ago quarter. The lower earnings growth relative to revenue signals SeaSpine Holdings Corporation has not been able to improve its profit margin.

The stock is down 2.86% to $6.28 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 48. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

SeaSpine Holdings Corp is a medical technology company. The company focuses on the design, development, and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. It has orthobiologics and spinal infusion hardware product categories. Its products are anterior and posterior fixation, access systems, bone graft substitutes, and collagen ceramic metrix. The company mainly operates in North America, Europe, Asia-Pacific, and Latin America. It generates revenue by consigning or loaning its products to hospitals and independent sales agents.