RGEN - Repligen shares rise on Q2 earnings beat FY forecast raise

Repligen (RGEN) shares rise nearly 3% premarket after the company posted second-quarter results that beat Wall Street estimates, and raised its full-year forecast.The company's quarterly revenue rose 86% to $162.96M, beating analysts' average estimate by $18.72M.Chief executive officer Tony Hunt called the quarterly results "outstanding" and said that the company showed strength across the board in all of its franchises.The company, however, highlighted that COVID-related sales accounted for 27% of its total revenue in the period.Repligen raised its FY revenue forecast to a range of $625M-$645M, up from a prior range of $565M-$590M. Analysts were expecting $586.43M.FY21 revenue from COVID-related programs is expected to be between $170M-$180M vs prior guidance of $140M-$160M.The company expects its FY adjusted profit per share to be in the range of $2.71-$2.78, up from earlier guidance of $2.21-$2.28, vs consensus estimate of $1.71.FY gross margin is expected to be in the range of 59%-60% on both a GAAP and non-GAAP

For further details see:

Repligen shares rise on Q2 earnings beat, FY forecast raise