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Avanos Medical: Q2 Earnings Snapshot

August 9, 2022 GMT

ALPHARETTA, Ga. (AP) _ Avanos Medical, Inc. (AVNS) on Tuesday reported second-quarter net income of $11.4 million.

On a per-share basis, the Alpharetta, Georgia-based company said it had profit of 24 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 41 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The medical technology company posted revenue of $203 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $208.1 million.

Avanos Medical expects full-year earnings in the range of $1.45 to $1.65 per share, with revenue in the range of $815 million to $835 million.

Avanos Medical shares have fallen 18% since the beginning of the year. The stock has decreased 18% 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