OraSure reports Q3 EPS 27c, consensus 4c

Reports Q3 revenue $89.2M, consensus $75.0M. “We continue to make progress on our transformation journey by ‘innovating and operating with disciplined execution and accountability’. During the third quarter, we generated significant positive operating cash flow with margin expansion, driven by our enterprise-wide focus on operational efficiency. Looking ahead, we expect to deliver productivity gains across our organization as part of our focus on strengthening our foundation, and we remain confident that we will achieve our target of break-even in cash flow from operations for the core business by the end of 2024,” said OraSure President and CEO Carrie Eglinton Manner. “We are focused on elevating our core growth, and we demonstrated solid progress in the third quarter with 7% core revenue growth on a year-over-year basis. We are investing in our innovation roadmap, organically and inorganically. The addition of four new offerings for international and substance abuse testing segments represents early progress in our portfolio expansion. External partnerships are a key element of our strategy to accelerate profitable growth and create shareholder value.”