Myriad Genetics Plunges 17.61% on Revenue Miss

Myriad Genetics (MYGN) reported a significant drop of 17.61% in pre-market trading on May 7, 2025.

Myriad Genetics reported a quarterly loss of $0.03 per share for the first quarter of 2025, which was better than the expected loss of $0.05 per share. This loss was an improvement from the previous year's loss of $0.01 per share. The company's revenue for the quarter was $195.9 million, missing the consensus estimate by 2.03%. This revenue decline was attributed to a challenging quarter with a 3% year-over-year decrease.

During the earnings call, management provided updated financial guidance for 2025, with revenue expected to be in the range of $807 million to $823 million and adjusted EPS ranging from a loss of $0.02 to a gain of $0.02. The company also revised its 2025 revenue guidance down by $35 million, reflecting the challenging first quarter.

Despite the mixed results, Myriad Genetics has a history of surpassing consensus EPS estimates. Over the last four quarters, the company has exceeded earnings expectations three times. The sustainability of the stock's immediate price movement will depend on management's commentary and future earnings expectations.