AP NEWS

Avanos Medical: 3Q Earnings Snapshot

November 5, 2019 GMT

ALPHARETTA, Ga. (AP) _ Avanos Medical, Inc. (AVNS) on Tuesday reported a third-quarter loss of $11.5 million, after reporting a profit in the same period a year earlier.

The Alpharetta, Georgia-based company said it had a loss of 24 cents per share. Earnings, adjusted for one-time gains and costs, came to 30 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The medical technology company posted revenue of $171.4 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $180.6 million.

Avanos Medical expects full-year earnings in the range of $1 to $1.10 per share.

Avanos Medical shares have climbed almost 6% since the beginning of the year. The stock has fallen 19% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVNS at https://www.zacks.com/ap/AVNS