Guardant Health (GH) Q2 Earnings Report Preview: What To Look For

Diagnostics company Guardant Health (NASDAQ:GH) will be announcing earnings results this Thursday after market close. Here’s what to look for.

Guardant Health beat analysts’ revenue expectations last quarter, reporting revenues of $301.7 million, up 48.3% year on year. It was an exceptional quarter for the company, with full-year revenue guidance exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

Is Guardant Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Guardant Health’s revenue to grow 35.5% year on year, improving from the 30.9% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Guardant Health has a history of exceeding Wall Street’s expectations.

Looking at Guardant Health’s peers in the healthcare providers & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Quest delivered year-on-year revenue growth of 10.2%, beating analysts’ expectations by 2.3%, and NeoGenomics reported revenues up 11.2%, topping estimates by 2.2%. Quest traded up 8.6% following the results.

Read our full analysis of Quest’s results here and NeoGenomics’s results here.

There has been positive sentiment among investors in the healthcare providers & services segment, with share prices up 4.4% on average over the last month. Guardant Health is down 8.4% during the same time and is heading into earnings with an average analyst price target of $171.08 (compared to the current share price of $140.81).

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