RGEN - Repligen Bucks Industry Trend Increases Full-Year 2020 Guidance
Based on the simple facts that Repligen (NASDAQ: RGEN) generated 65% of full-year 2019 revenue from customers engaged in clinical trials and many clinical trials have been delayed due to the coronavirus pandemic, I told investors the business could face a temporary slowdown this year. So much for that caution.
The bioprocess equipment leader not only delivered record quarterly revenue in the first three months of 2020, but also decided to increase full-year 2020 earnings guidance while keeping revenue expectations intact. That's a striking departure from the industry trend of withdrawing full-year 2020 guidance in response to the uncertainty created by the global coronavirus crisis.
If it holds true, then the reliable growth stock deserves a closer look. Here's what investors need to know about Repligen's first-quarter 2020 operating results.