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Avanos Medical: 2Q Earnings Snapshot

August 6, 2019

ALPHARETTA, Ga. (AP) _ Avanos Medical, Inc. (AVNS) on Tuesday reported a second-quarter loss of $8 million, after reporting a profit in the same period a year earlier.

The Alpharetta, Georgia-based company said it had a loss of 17 cents per share. Earnings, adjusted for non-recurring costs, came to 28 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The medical technology company posted revenue of $172.2 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $172.7 million.

Avanos Medical expects full-year earnings in the range of $1.15 to $1.25 per share.

Avanos Medical shares have declined 15% since the beginning of the year. The stock has dropped 34% 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

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