Update: Haemonetics Earnings-Revenue Growth And Shrinking Loss As Restructuring Progresses
Martin Vlcek • Tue, Aug. 5
- HAE reported 2% revenue growth, smaller GAAP loss of $0.07 and $0.38 non-GAAP EPS, down 17% Y/Y, but showing first signs of improving trends in its turnaround.
- I reiterate my long thesis with a target price of $45, offering a 25% upside within two years. But the turnaround is still uncertain and downside should be protected.
- The long thesis has worked well until HAE lost a large contract from the American Red Cross, sending the stock down ~10%.