Repligen reports Q1 adjusted EPS 64c, consensus 59c

Reports Q1 revenue $182.7M, consensus $181.43M. Tony Hunt, President and CEO of Repligen said, "Given the challenging macro environment, I am very happy with our overall performance in the first quarter, with year-over-year base business growth of 7% at constant currency. In the quarter, we saw strong performance from our Chromatography and Proteins franchises, while Filtration was down – reflecting the predicted drop-off in COVID-related revenue. Strategically, we continue to build out our Fluid Management portfolio with the April acquisition of FlexBiosys, adding single-use bags to our suite of products. As we move through the first half of 2023, our R&D team is poised to deliver four new products supporting our Systems, Analytics and Filtration businesses. Overall, we continue to be bullish on the medium- to long-term growth in bioprocessing but expect 2023 to be a challenging year due to a slower recovery in order growth, especially in AsiaPac. We now expect 4% to 8% base business growth for the company."