Align Technology (ALGN) reported revenue of $997.43 million for the quarter ended March 2024, representing a 5.8% increase compared to the same period last year. Earnings per share (EPS) came in at $2.14, up from $1.82 in the year-ago quarter, and exceeded analyst estimates by 8.08%.
When making investment decisions, investors typically analyze revenue and earnings changes year-over-year and compare them against Wall Street expectations. However, certain key metrics provide a more accurate assessment of a company’s financial health. By examining these metrics compared to previous years and analyst estimates, investors can better predict a stock’s price performance.
In the latest quarter, Align Technology performed well in key metrics monitored by Wall Street analysts. Clear aligner shipments totaled 605, surpassing the average estimate of 589 by three analysts. Net revenues for Imaging Systems and CAD/CAM Services reached $180.18 million, higher than the average estimate of $163.02 million from three analysts, while Total Clear Aligner net revenues amounted to $817.25 million, surpassing the average estimate of $811.06 million from three analysts as well.
Align Technology’s stock has returned -2.5% over the past month, outperforming the Zacks S&P 500 composite which saw a -3% change over that same time period