Shares of Stevanato Group S.p.A. (NYSE: STVN), a leading producer of glass vials for COVID-19 vaccines, soared over 5% on Monday after the company reported better-than-expected third-quarter revenue and provided an optimistic full-year revenue outlook.
While the company's Q3 adjusted earnings of €0.12 ($0.13) per share narrowly missed analysts' estimates of €0.13, its revenue of €277.9 million surpassed the consensus estimate of €274.4 million. Stevanato attributed the revenue growth to strong demand for its pharmaceutical products.
For the full year 2024, Stevanato expects revenue in the range of €1.09 billion to €1.11 billion, in line with analysts' expectations of €1.09 billion. However, the company slightly lowered its adjusted earnings per share guidance to €0.47-€0.49, compared to the previous outlook of €0.48-€0.50.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.