Progyny IncPGNY
▼ NegativeCapitalrelevance
Q2 beat but full-year guidance cut and EBITDA below estimates
Impact on stocks 1
Health Care
Progyny IncProgyny reported second-quarter revenue and profit above Wall Street expectations but lowered its full-year revenue guidance, sending shares down. Revenue was $350.5 million versus analyst estimates of $348.5 million, a 5.3% year-on-year increase, while adjusted EPS of $0.55 beat estimates by 6.2%. The company cut full-year revenue guidance to $1.37 billion at the midpoint from $1.39 billion, a 0.9% decrease, and EBITDA guidance of $236.5 million came in below analyst estimates of $239.1 million. Management attributed flat sales volumes to more pronounced summer seasonality and said early client commitments are ahead of last year.
Progyny IncQ2 beat but full-year guidance cut and EBITDA below estimates