Masimo Boosts FY23 Adj. EPS Outlook

(RTTNews) - Technology company Masimo Corp. (MASI) announced Wednesday select preliminary financial results for the fourth quarter and full-year ended December 30, 2023 and provided estimates for its full-year 2024 guidance.

For the fourth quarter, the company now expects consolidated revenue between $541 million and $551 million, compared to the prior outlook of between $526 million and $576 million.

On average, eight analysts polled by Thomson Reuters expect the company to report revenues of $536.91 million for the quarter.

For fiscal 2023, the company now sees earnings in a range of $1.34 to $1.54 per share and adjusted earnings in a range of $3.39 to $3.59 per share on consolidated revenue between $2.041 billion and $2.051 billion.

Previously, the company expected earnings in a range of $1.34 to $1.54 per share and adjusted earnings in a range of $2.85 to $3.05 per share on consolidated revenue between $2.025 billion and $2.075 billion.

Analysts expected earnings of $2.91 per share on revenues of $2.04 billion for the year.

Looking ahead to fiscal 2024, the company now projects earnings in a range of $1.91 to $2.08 per share and adjusted earnings in a range of $3.44 to $3.60 per share on consolidated revenue between $2.045 billion and $2.165 billion, with Healthcare revenue between $1.345 billion and $1.385 billion as well as Non-healthcare revenue between $700 million and $780 million.

The Street is looking for earnings of $3.08 per share on revenues of $2.09 billion for the year.