Why Progyny Shares Are Trading Higher Today

Progyny PGNY shares are trading higher on Tuesday after the company reported better-than-expected Q4 results.

Progyny reported quarterly earnings of $0.03 per share which beat the analyst consensus estimate of $0.01. The company reported quarterly sales of $214.32 million which beat the analyst consensus estimate of $211.78 million.

"In just the past two years, we've more than doubled our clients, members, and revenue, demonstrating the superiority of Progyny's offerings and the resulting high demand for our solutions in the market. We achieved this while simultaneously expanding our margins, profitability and cash flow, which reveals the inherent operating leverage in our model,” said Pete Anevski, Chief Executive Officer of Progyny.

For Q1 of 2023, the company expects revenue to be in the range of $245 million to $250 million and adjusted EPS to be in the range of $0.07 to $0.08 per share. For full-year 2023, revenue is projected to be in the range of $1 billion to $1.03 billion and adjusted EPS in the range of $0.26 to $0.32.

Progyny is a benefits management company specializing in fertility and family building benefits solutions.

PGNY Price Action: Progyny has a 52-week high of $53.1 and a 52-week low of $25.67.

Progyny shares are up 18.1% at $36.74 at the time of publication, according to Benzinga Pro.