AngioDynamics cuts FY23 adjusted EPS view to (6c)-(1c) from 1c-6c

Consensus (1c). Cuts FY23 revenue view to $338M-$342M from $342M-$348M, consensus $342.47M. The company said, "As a result of lower than anticipated AngioVac sales, management now expects the Company’s fiscal year 2023 net sales to be in the range of $338 million to $342 million, a decrease from its prior guidance of $342 million to $348 million. Management now expects gross margin to be approximately 51.0% to 52.0%, a decrease from its prior guidance of 52.5% to 54.5%, and adjusted earnings per share to be in the range of a loss of $0.06 to a loss of $0.01, a decrease from its prior guidance of earnings of $0.01 to $0.06. The adjusted earnings per share guidance is the result of higher than previously anticipated inflationary pressure combined with the lower AngioVac revenue."