Penumbra (PEN) Q1 Earnings and Revenues Surpass Estimates

By Zacks9 days ago

Penumbra (PEN) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 145.45%. A quarter ago, it was expected that this medical device maker would post a loss of $0.08 per share when it actually produced earnings of $0.42, delivering a surprise of 625%.

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Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Penumbra, which belongs to the Zacks Medical - Instruments industry, posted revenues of $169.2 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 10.41%. This compares to year-ago revenues of $137.33 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

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