InMode Slumps On Light Earnings Outlook Despite Quarterly Beat

Medical aesthetics company InMode (INMD) issued lighter-than-expected earnings guidance for 2023, sending INMD stock into the red early Tuesday.

X

For the year, InMode expects to earn $2.58-$2.60 per share, below expectations for $2.64, according to FactSet. The company also predicted to $525 million to $530 million in sales, above calls for $524 million.

In premarket trading on the stock market today, INMD stock slumped 1.4% near 33.50.

During the fourth quarter, sales climbed 21% to $133.6 million and adjusted profit surged 22% to 78 cents a share. Both metrics topped forecasts for $129.7 million and 67 cents, respectively.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

YOU MAY ALSO LIKE:

The Cream Of The Crop: 5 Biotech Stocks That Outrank 98% Of All Stocks

Teva Plots Its Knockoff Of Axsome’s New Depression Drug, Sending The Biotech Sprawling

Watch IBD’s Investing Strategies Show For Actionable Market Insights

Get Timely Buy & Sell Alerts With IBD Leaderboard

Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks