By Katherine Hamilton
Progyny shares rose Monday after the company said it expects its fourth-quarter financial results to beat previously shared guidance.
The stock advanced 7% to $20.14, its highest price since September.
The New York-based fertility company said it expects revenue, net income and adjusted EBITDA for the quarter ended Dec. 31 to be higher than the ranges it provided in November.
It previously said it anticipated its fourth-quarter revenue to be $266.2 million to $281.2 million, the higher end of which would be a 4% increase from the previous year. It guided for net income between $6.1 million and $9.5 million, and adjusted EBITDA of $37.8 million to $ 42.8 million.
Progyny said it is now expecting higher results because it is seeing improved pacing in activity and treatment volume. The company previously believed member activity would be flat with or decline from the prior year.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 13, 2025 12:34 ET (17:34 GMT)
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