DexCom Stock Drops After Q3 Results, Announces C-Suite Transition

DexCom, Inc. DXCM reported its third-quarter results after Thursday's closing bell. Here's a look at the details from the report.  

The Details: DexCom reported quarterly earnings of 45 cents per share, which beat the analyst consensus estimate of 43 cents. Quarterly revenue came in at $994.2 million which beat the analyst consensus estimate of $990.71 million and is an increase over sales of $975 million from the same period last year.

DexCom also announced Teri Lawver, executive vice president and chief commercial officer, will retire at the end of the year. Lawver will continue as a special advisor to Dexcom through early 2025 and Kevin Sayer, chairman, president and CEO, will assume leadership of the commercial organization as the company conducts a global search for a new chief commercial officer.

Read Next: Boeing Strike Drags On: Union Contract Rejection ‘Adds Further Uncertainty, Costs, Recovery Delays,’ Says Analyst

Dexcom’s third-quarter results were in line with our expectations as our team responded quickly to the business dynamics that emerged earlier this year,” said Sayer. “We made significant progress over the quarter to drive improved execution, leaving the company on track to continue on our momentum in the fourth quarter and into 2025.”

Outlook: DexCom affirmed its fiscal 2024 sales outlook of between $4 billion and $4.05 billion.

DXCM Price Action: According to Benzinga Pro, DexCom shares are down 7.94% after-hours at $68.91 at the time of publication Thursday.

Read Also: 

• Bank Of America CEO Cautions Fed Not To ‘Go Too Fast Or Too Slow’ On Interest Rate Cuts

Photo: Shutterstock