Repligen shares tumble on disappointing 2024 guidance

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Repligen shares tumble on disappointing 2024 guidance
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BOSTON - Repligen (NASDAQ: RGEN ) Corporation (NASDAQ: RGEN) reported its fourth-quarter earnings, matching analyst expectations with an adjusted EPS of $0.33. However, the company's revenue slightly exceeded the consensus estimate, coming in at $155.7 million compared to the anticipated $155.38 million. Despite this, shares of Repligen fell by 5.9% following the release, driven by the company's weaker-than-expected guidance for the upcoming year.

The company's revenue for the quarter represents an increase from the previous year, indicating growth in its operations. However, the focus for investors shifted to the company's future outlook. Repligen provided guidance for 2024, projecting an adjusted EPS range of $1.42 to $1.49, which falls short of the analyst consensus of $1.77. Additionally, the company anticipates 2024 revenue to be between $620 million and $650 million, again below the consensus estimate of $660.7 million. The mid-point of Repligen's revenue guidance, at $635 million, is notably lower than what analysts had been forecasting, contributing to the negative investor sentiment reflected in the stock's decline.

The market's reaction underscores concerns over the company's ability to meet investor expectations in the coming year. The drop in share price post-earnings suggests that the guidance provided by Repligen has tempered enthusiasm about the company's growth trajectory.

Repligen's performance this quarter, while steady, has been overshadowed by the cautious stance it has taken for the year ahead. The company's leadership has not publicly commented on the factors contributing to the conservative guidance. However, investors and analysts will be looking for clarity on the challenges Repligen anticipates that may impact its financial performance in 2024.

As investors digest the latest financial figures and future projections, the company's strategic moves and operational efficiency will remain under close scrutiny as it navigates the upcoming fiscal challenges.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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