In its first quarter of 2022, Align Technology, Inc. faced substantial declines, posting an earnings per share of $2.13, down 14.5% from the previous year's $2.49 and missing analysts' expectations of $2.30. Although revenue grew 8.8% year over year to $973.2 million, it fell short of the Zacks Consensus Estimate by 2.9%. Following the earnings release, the company's shares dropped over 21%, reflecting mounting investor concern as Align navigates significant market volatility and reduced cash reserves.
“Align Technology · is likely to have gained from · adoption of iTero scanners · continued”
“Zacks Consensus Estimate for Align Technology’s first-quarter earnings per share · is pegged at · earnings per share · $2.25”
“Align Technology, Inc. · first-quarter 2022 earnings per share (EPS) · $2.13 · compared to the year-ago $2.49, reflecting a decline of 14.5%.”
“Align Technology, Inc. · GAAP EPS for the quarter · $1.70 · down from the year-ago EPS of $2.51, reflecting a plunge of 32.3%.”
“Align Technology, Inc. · revenues in the first quarter · $973.2 million · surged 8.8% year over year, missing the Zacks Consensus Estimate by 2.9%.”
“Align Technology · exited the first quarter of 2022 with cash, cash equivalents of · $926.1 million · compared with $1.09 billion recorded at the end of 2021.”
“Align Technology · expects to repurchase · up to $200 million of its common stock · in the second quarter of 2022.”
“Align Technologies · is down · 20% · 20%”
“Align Technology, Inc. (NASDAQ:ALGN) · reported adjusted earnings of · $2.13 per share · down from $2.49 per share in the year-ago period”
“Align Technology, Inc. (NASDAQ:ALGN) · reported revenue of · $973.2 million · down from $894.8 million in the comparable period of 2021”
“Align Technology · is down · more than 53% · so far this year”
“Align Technology · had a 52-week high of · $737.45”