Masimo Outlines Revenue Forecast for 2024, Expects to Surpass Consensus Estimate

Summary

  • Masimo (NASDAQ:) releases its 2024 revenue forecast, anticipating between $2.05 billion to $2.17 billion, surpassing a consensus estimate of $2.09 billion.
  • MASI is also forecasting an adjusted earnings per share (EPS) of between $3.44 and $3.60 for the same period, exceeding estimated projections of $3.08.
  • The company predicts Q4 preliminary results will yield revenue between $541 million to $551 million, surpassing the street’s estimate of $537 million.
  • Masimo’s litigation expenses against Apple will be excluded from non-GAAP financial measures from fiscal year 2024.

Masimo Reveals 2024 Revenue Forecast

Today, Masimo (NASDAQ:) presented its revenue forecast for 2024. The projection anticipates revenues ranging from $2.05 billion to $2.17 billion. This forecast surpasses the previous consensus estimate which stood at $2.09 billion.

Adjusted EPS Projections

In addition to its revenue forecast, Masimo also projects an adjusted earnings per share (EPS) for 2024. The company anticipates an EPS ranging from $3.44 to $3.60, an estimate which exceeds the general market estimate of $3.08.

The announcement generated a positive response in the market with MASI’s stock appreciating by 2.2%.

Q4 Preliminary Results

Apart from annual projections, Masimo also released preliminary results for the fourth quarter of the current year. The company expects its Q4 revenues to fall between $541 million to $551 million, surpassing the street’s initial estimate of $537 million.

Exclusion of Litigation Expenses

In a manner to present a clearer picture of the company’s financial health, starting from the fiscal year 2024, Masimo aims to exclude all expenses linked to its ongoing litigation against Apple from its non-GAAP financial measures. The company justifies this exclusion by stating that the expenses incurred in relation to the lawsuit are unique and do not provide an accurate reflection of the company’s regular performance.

In consideration of forex and trading impacts, the increased earnings per share (EPS) forecast from Masimo (MASI) is likely to positively affect its stock performance, potentially creating profitable trading opportunities.

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