Repligen lowers 2023 adjusted EPS view $1.72-$1.80 from $2.35-$2.42

Consensus $2.29. The company said, “Total reported revenue is expected to be in the range of $635-$665 million, compared to our previous guidance of $720-$760 million. This represents a year-over-year decrease of 17%-21%, compared to our previous guidance, a decrease of 5%-10%. We expect COVID-related revenue of approximately $30 million, compared to our previous guidance of $30-$40 million. For our base business, we are expecting revenues to be down 5%-10%, compared with our previous guidance of a 4%-8% increase. For the full year, foreign currency impact is expected to be nominal. Gross margin is expected to be 49.5%-50.5% on a GAAP basis, and 50%-51% on a non-GAAP basis, compared to our previous guidance of 52%-53% for both GAAP and non-GAAP.” Revenue consensus $721.07M.