Staar Surgical Company Down 18.81% To $35.17 After Earnings Beat

Thursday, November 2, 2023 - Staar Surgical Company (STAA) reported upside earnings and downside revenues.

Wall Street earnings per share (EPS) projections for Staar Surgical Company were at $0.18. The company beat those estimates with an EPS of $0.30. The earnings per share of $0.30 (which represents a -67% EPS surprise) led to the company's profits falling 19% compared to last year when the firm reported an EPS of $0.37. The decline in Staar Surgical Company's annual growth rate represents how the business isn't performing well amid current economic conditions.

Consensus estimates for Staar Surgical Company revenue averaged out to $80.3 million, with the business missing on those expectations with reported third-quarter revenue of $80.3 million. The $12 thousand (0%) negative revenue surprise led to 6% growth year-over-year as the firm reported revenue of $76 million in its year-ago quarter. The lower earnings growth compared to revenue points to Staar Surgical Company not being able to improve its profit margin.

The stock is down 18.81% to $35.17 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.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

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

Staar Surgical Company has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 20, putting Staar Surgical Company in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $37.01 on October 6, 2023 and set a 52-week high on February 2, 2023 at $81.81.

Staar Surgical Co is a manufacturer of lenses. It designs, develops, manufactures, and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. The company also make lenses which are used in surgery that treats cataracts. The company offers products are ICLs used in refractive surgery and IOLs used in cataract surgery. The company generated sales are from the ophthalmic surgical product segment.