Shares of Haemonetics Corp. (HAE) plummeted 10.25% to close at $75.85 on Thursday in pre-market trading, underperforming the broader market, following the company's fiscal third-quarter earnings release.
For the quarter ended December 28, 2024, Haemonetics reported revenue of $348.5 million, up 3.7% year-over-year but below analysts' expectations of $353.1 million. While adjusted earnings per share of $1.19 matched estimates, the company lowered its full-year revenue growth guidance to 3-5%, down from its previous outlook.
The revenue miss and reduced guidance appear to have spooked investors, resulting in the sharp sell-off. The disappointing numbers indicate potential headwinds for the medical device maker, raising concerns over its future growth prospects and profitability.
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