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Compared to Estimates, Align Technology (ALGN) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2-min read

For the quarter ended March 2023, Align Technology (ALGN) reported revenue of $943.15 million, down 3.1% over the same period last year. EPS came in at $1.82, compared to $2.13 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $908.29 million, representing a surprise of +3.84%. The company delivered an EPS surprise of +7.69%, with the consensus EPS estimate being $1.69.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Align Technology performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net revenues- Imaging Systems and CAD/CAM Services: $153.34 million versus the three-analyst average estimate of $143.04 million. The reported number represents a year-over-year change of -6.2%.

  • Net revenues- Total Clear Aligner: $789.80 million versus the three-analyst average estimate of $757.35 million. The reported number represents a year-over-year change of -2.5%.

  • Gross profit- Systems and Services: $94.52 million versus $83.34 million estimated by three analysts on average.

  • Gross profit- Clear Aligner: $566.14 million compared to the $544.41 million average estimate based on three analysts.

View all Key Company Metrics for Align Technology here>>>

Shares of Align Technology have returned -13.3% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research