Align earnings top expectations as teens and other customers drive growth

Shares of Align Technology Inc. (ALGN) were rising 12% in after-hours trading Wednesday after the maker of clear tooth straighteners topped expectations with its latest quarterly financials. The company logged second-quarter net income of $112 million, or $1.46 a share, compared with $113 million, or $1.44 a share, in the year-prior quarter. On an adjusted basis, Align earned $2.22 a share, up from $2.15 a share a year before, while analysts tracked by FactSet were modeling $2.03 a share. Revenue rose to $1 billion from $970 million, while the FactSet consensus was for $991 million. The company saw "improving trends across regions and strength in teen and younger patient volumes," Chief Executive Joe Hogan said in a release. For the third quarter, Align anticipates $990 million to $1.01 billion in revenue, while the FactSet consensus was for $990 million.

-Emily Bary

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07-26-23 1631ET

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