- Insulet Corp (NASDAQ:PODD) posted an adjusted EPS of $0.45 in Q3, surpassing the consensus of $0.15.
- Insulet recorded a bottom-line dip into the red of $(5.2) million from profits of $12.6 million a year ago. However, the company registered sales growth of 23.7% Y/Y to $340.8 million, beating the consensus of $312.52 million.
- The company reported total Omnipod automated insulin delivery system revenue of $326.1 million. Insulet initiated the full market launch of the latest-generation Omnipod 5 device in U.S. pharmacies earlier this year.
- Related: FDA Approves Insulet’s Omnipod Automated Insulin System For Patients Two Years & Above.
- Additionally, Insulet recently developed a basal-only pod for individuals with type 2 diabetes. According to a news release, it plans to submit to the FDA for 510(k) clearance soon.
- Insulet expects “another year of strong growth.”
- “We expect to deliver another year of strong growth and operational progress and enter 2023 with significant momentum across our business.”
- Guidance: For the second consecutive quarter, Insulet increased annual revenue guidance. Last quarter, it increased its projections from 12%-16% growth to 14%-17%. The company now expects a Y/Y improvement of 18%-19%.
- Price Action: PODD shares traded 12.79% higher at $288.00 during premarket on the last check Friday.
USA Markit Services PMI for Dec 57.600 vs 57.500 Est; Prior 57.500
USA Markit Services PMI for Dec 57.600 vs 57.500 consensus estimate. The prior reading was 57.500.
