Stevanato Group S.P.A. Down 5.68% To $31.22 After Earnings Miss

Thursday, March 7, 2024 - Stevanato Group S.P.A. (STVN) reported downside earnings and revenues today.

Stevanato Group S.P.A.'s earnings came in at an EPS of $0.19 per share, 8% lower than estimates for an EPS of $0.21 per share. The firm's earnings are up 2% since reporting $0.19 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $345.1 million. That is an increase of 15.75% in revenues from the year-ago report and is 2.60% lower than consensus estimates set at $354.3 million.

The stock is down 5.68% to $31.22 after the report.

Stevanato Group S.P.A.'s revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

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 59. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Italy-based Stevanato Group is a provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries. It delivers an integrated, end-to-end portfolio of products, processes, and services that address customer needs across the entire drug life cycle including development, clinical, and commercial stages. Stevanato's revenue is geographically diversified, with 60% of sales from Europe, the Middle East and Africa (EMEA), 27% in North America, 10% in Asia-Pacific (APAC), and 3% in South America.