Lantheus Holdings experienced a significant surge in shares on Thursday following the release of its optimistic 2024 outlook and fourth-quarter results that surpassed expectations.
Share Performance
- The stock climbed 15% to $64.85 during late morning trading.
- Shares have seen a 5% increase since the beginning of the year.
Revenue Forecast
- Based in Bedford, Mass., Lantheus Holdings, a producer of medical imaging products, anticipates revenue between $1.41 billion and $1.445 billion for 2024 – indicating growth between 8.8% to 11%.
- FactSet analysts predict full-year revenue to reach $1.39 billion.
Earnings Projection
- The company also anticipates adjusted earnings, excluding selected one-time items, to range from $6.50 to $6.70 per share for 2024.
- FactSet analysts have estimated adjusted earnings at $6.23 per share.
Fourth Quarter Performance
- Lantheus Holdings disclosed its 2024 guidance following a fourth-quarter revenue increase of approximately 35% to $354 million – surpassing analysts’ projection of $339.6 million.
- A profit of $103.4 million, or $1.47 per share, was reported for the fourth quarter, representing a significant improvement from the previous year’s loss of $119.2 million or $1.74 per share.
- Analysts had forecasted a fourth-quarter profit of $1.22 per share.