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Myriad (MYGN) Reports Q1 Earnings: What Key Metrics Have to Say

For the quarter ended March 2024, Myriad Genetics (MYGN) reported revenue of $202.2 million, up 11.6% over the same period last year. EPS came in at -$0.01, compared to -$0.21 in the year-ago quarter.

The reported revenue represents a surprise of +4.55% over the Zacks Consensus Estimate of $193.4 million. With the consensus EPS estimate being -$0.11, the EPS surprise was +90.91%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Myriad performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue by Product- Prenatal: $30.90 million compared to the $39.93 million average estimate based on two analysts. The reported number represents a change of -14.6% year over year.

  • Revenue by Product- Hereditary Cancer: $88.10 million compared to the $82.45 million average estimate based on two analysts. The reported number represents a change of +16.4% year over year.

  • Revenue by Product- Pharmacogenomics: $38.90 million compared to the $35.01 million average estimate based on two analysts. The reported number represents a change of +21.6% year over year.

  • Revenue by Product- Tumor Profiling: $30.90 million versus the two-analyst average estimate of $35.96 million. The reported number represents a year-over-year change of -17.2%.

View all Key Company Metrics for Myriad here>>>

Shares of Myriad have returned -1.8% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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