The global leader in whole-person virtual care, Teladoc Health, Inc. (NYSE: TDOC) moves down more than 1% on Friday as the firm reported that it would post third-quarter 2022 earnings after the market closes on Wednesday, October 26, 2022. At 4:30 p.m., the business will have a conference call to evaluate the findings. E.T. is on the same wavelength.
Teladoc’s stock has dropped over 70% year to date. It’s hardly surprise that the telehealth stock benefited from the market’s upward trend. When the tide rises, it tends to raise all boats.
Even if the stock market continues to rise, this does not inevitably imply that Teladoc will follow suit. The company’s share price plummeted dramatically in 2021, while the S&P 500 performed well.
The most crucial thing for Teladoc is to outperform the expectations of its investors. That’s something the virtual care provider hasn’t done in a long time, at least not recently.
Teladoc’s largest difficulty has been massive goodwill write-offs due to its 2020 acquisition of Livongo Health. The company’s BetterHelp mental health division is likewise growing slower than expected. A prolonged economic slump might harm Teladoc, particularly its direct-to-consumer products and services. However, this might stymie some of Teladoc’s smaller rivals, which would assist Teladoc in the long run.
Teladoc will be seeking to show strength as it approaches its next earnings report on October 26, 2022. The firm is predicted to announce earnings per share of -$0.59, an 11.32% decrease from the prior-year quarter. Our most current average forecast calls for quarterly sales of $608.82 million, a 16.71% increase over the previous year.
Looking ahead to the full year, our Zacks Consensus Estimates show analysts anticipating -$61.39 per share in profits and $2.4 billion in revenue. These figures represent -4515.79% and +18.09% increases over previous year.
It is also worth noting that analyst forecasts for Teladoc have recently changed. These adjustments often reflect the most recent short-term business trends, which might alter on a regular basis. As a result, upward adjustments to estimates show analyst confidence about the company’s operations and profitability.
