Why Azenta (AZTA) Shares Are Jumping Today - Azenta (NASDAQ:AZTA)

Azenta Inc AZTA shares are surging after the company reported better-than-expected Q4 earnings and a buyback of $1.5 billion.
Q4 revenue was $138 million, flat Y/Y, with organic growth of 2%, beating the consensus of $133.72 million.
Organic growth was 12% Y/Y, excluding the COVID impact. The estimated COVID impact was approximately $1 million in Q4 FY22 compared to a $12 million contribution in the prior year period.
Life Sciences Products revenue declined 9% Y/Y mainly due to lower revenue in the consumables and instruments business, partially offset by growth in large-automated stores business.
Related: Azenta Enhances Position in Cold Chain Solutions With €410M Acquisition.
The acquisition of Barkey contributed $4 million to revenue.
Life Sciences Services revenue grew 6% Y/Y, with a 9% growth in sample repository solutions.
Adjusted EPS of $0.16 came in above $0.12 a year ago, and the consensus of $0.06.
The company approved a share buyback of $1.5 billion, including an accelerated share repurchase program to repurchase approximately $500 million.
Guidance: Azenta forecasts Q1 FY23 sales of $175-$190 million and adjusted EPS of $0.08-$0.16, versus the consensus of $163 million and $0.09, respectively.
For FY23, total revenue is expected to grow approximately 30%.
Price Action: AZTA shares are up 25.55% at $58.48 on the last check Tuesday.
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Azenta Shares Tick Higher After Q4 Earnings Surpass Estimates, $1.5B Share Buyback