-=Myriad Genetics (MYGN) reported earnings on Tue 13 Aug 2019 (a/h)

Myriad Genetics misses by $0.07, misses on revs; guides Q1 EPS and revenue below consensus; guides FY20 EPS and rev below consensus

Reports Q4 (Jun) earnings of $0.41 per share, excluding non-recurring items, $0.07 worse than the S&P Capital IQ Consensus of $0.48; revenues rose 11.1% year/year to $215.4 mln vs the $221.64 mln S&P Capital IQ Consensus.

Co issues downside guidance for Q1, sees EPS of $0.30-0.32, excluding non-recurring items, vs. $0.43 S&P Capital IQ Consensus; sees Q1 revs of $200-202 mln vs. $217.38 mln S&P Capital IQ Consensus.

Co issues downside guidance for FY20, sees EPS of $1.80-1.90, excluding non-recurring items, vs. $1.94 S&P Capital IQ Consensus; sees FY20 revs of $865-875 mln vs. $920.73 mln S&P Capital IQ Consensus.

"Fiscal year 2019 revenue increased 14 percent with earnings up 18 percent. Unfortunately, revenue in the fourth quarter was two percent below expectations largely due to lower reimbursement for our expanded carrier screening test," said Mark C. Capone, president and CEO, Myriad Genetics. "Looking ahead to fiscal year 2020, with stabilized pricing, growing new product volumes and recent reimbursement advances with GeneSight, we are highly optimistic about our ability to deliver an inflection in revenue and earnings as we transition through the fiscal year."