Disappointing guidance and lower revenue projections

  • Progyny shares fall 9.3% on lackluster 2024 outlook
  • Guidance for Q1 and full year 2024 below estimates
  • Stock down 9.3% in after-hours trading
  • 2024 revenue expected to be $1.285 billion to $1.315 billion
  • Analysts expected full-year revenue of $1.317 billion
  • Short-term shift in treatment mix impacting revenue growth
  • Progyny expects full-year profit of 66 cents to 71 cents a share
  • First-quarter profit expected to be 12 to 13 cents a share
  • 4Q revenue of $269.9 million, below analysts’ expectations
  • Profit of $13.5 million in Q4, beating analysts’ expectations

Shares of Progyny fell 9.3% in after-hours trading following the company’s announcement of its guidance for the first quarter and full year 2024. The guidance came in below estimates, with revenue expected to be between $1.285 billion and $1.315 billion, representing a growth of 18% to 21%. Analysts had expected full-year revenue of $1.317 billion. The company attributed the lower revenue projections to a short-term shift in treatment mix, which impacted revenue growth. Despite this, Progyny expects a full-year profit of 66 cents to 71 cents a share and a first-quarter profit of 12 to 13 cents a share. In the fourth quarter, the company’s revenue was $269.9 million, falling short of analysts’ expectations. However, Progyny posted a profit of $13.5 million, beating analysts’ expectations.

Factuality Level: 8
Factuality Justification: The article provides specific details about Progyny’s financial performance, including revenue and profit forecasts for the first quarter and full year 2024. It also includes comparisons with analyst expectations and previous performance. The information presented is factual and based on reported data, without any obvious bias or sensationalism.
Noise Level: 3
Noise Justification: The article provides detailed information about Progyny’s financial performance, including revenue and profit forecasts for the first quarter and full year 2024. It includes comparisons with analyst expectations and previous performance. The article stays on topic and does not dive into unrelated territories. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Progyny
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the stock performance and financial guidance of Progyny, a fertility and women’s health benefits company. However, there is no mention of any extreme event or its impact.
Public Companies: Progyny (N/A)
Key People: Ben Glickman (N/A)

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