Azenta Inc. (AZTA) shares plummeted 6.98% in Wednesday's pre-market session, despite the company reporting better-than-expected earnings for the second quarter ended December 31, 2024.
The semiconductor equipment maker reported adjusted earnings per share (EPS) of $0.08, surpassing analysts' average estimate of $0.06. However, revenue declined 4.4% year-over-year to $147.51 million, slightly above the consensus estimate of $146.19 million.
While Azenta reiterated its fiscal 2025 revenue guidance of 3% to 5% organic growth and expected adjusted EBITDA margin expansion of approximately 300 basis points relative to fiscal 2024, investors seemed to be concerned about the company's overall performance and outlook.
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