Lifecore Biomedical reports Q2 revenue of $34.17M, exceeding estimates by $2.15M despite a 6.2% year-over-year decline.
Lifecore Biomedical posted a Q2 GAAP EPS loss of $0.19, beating expectations by $0.03. Revenue reached $34.17 million, surpassing estimates by $2.15 million but declining 6.2% year-over-year.
The company’s revenue consensus for the full year was $122.18 million, but Lifecore now expects $120 to $125 million. Adjusted EBITDA is projected between $20.5 million and $25 million.
Shares showed limited immediate reaction following the release.