Azenta sees FY24 non-GAAP EPS 19c-20c consensus 22c

Sees FY24 revenue $696M-$718M, consensus $705.6M. Sees FY24 Adjusted EBITDA margin expansion approximately 300 basis points. Steve Schwartz, President and CEO, said, “The momentum we’re seeing across the business gives us confidence in our outlook for fiscal 2024, where we expect to achieve organic revenue growth of 5%-8% coupled with continued margin expansion and positive free cash flow. Today we are also pleased to announce plans to repurchase an additional $500M in FY24 under our existing share repurchase program. This initiative underscores our focus on driving long-term value for shareholders through disciplined capital deployment. We have a strong balance sheet position, and, even after this additional repurchase of shares, we will have ample liquidity, including roughly $500M of cash available to be prudently allocated to enhance shareholder value, including continued strategic investment in our unique end-to-end sample management portfolio.”