Repligen reports Q1 adjusted EPS 28c, consensus 30c

Reports Q1 revenue $151.346M, consensus $150.06M. Tony Hunt, Chief Executive Officer of Repligen said, “We delivered a solid first quarter, with revenue of $151 million and are on track to achieving our first half sales target of $300 to $310 million. For the quarter, our book-to-bill ratio was 0.99 and over the past nine months we achieved a book-to-bill of 1.03; indicative that our markets are recovering, albeit slowly. On a franchise level, our Filtration franchise excluding COVID delivered double-digit revenue growth, both sequentially and year-over-year. Our latest acquisition – Metenova – continued to achieve both revenue and orders targets. We also saw continued strength from new modality customers who are scaling up with our technologies. All in, we’re pleased with our first quarter performance and we are holding our adjusted 2024 financial guidance, continuing to expect that orders will pick up during the second half of the year.”