Repligen Corp reports results on Tuesday 27 October, before the market opens. Growth is coming with wider margins, so profit is rising faster than sales. Revenue over the twelve months to Q2 2026 was $785.1 million, which rose 16.5% on the year before.
What analysts expect
Analysts have been raising their forecasts going into the report. For the quarter, the analysts’ average EPS estimate is $0.46, in a range from $0.41 to $0.50. The average revenue estimate for the quarter is $206.7 million. Meanwhile, the analysts’ average estimate for full-year EPS is $2.06, which would be up 20.2% on last year (based on 20 analysts). That estimate has risen 2.6% over the past 90 days. Of the analysts’ recommendations, 18 are positive, 4 neutral and 0 negative.
Company guidance
In its latest earnings release, management set FY 2026 Earnings Per Share - Diluted guidance at $2.03 to $2.09. In its latest earnings release, management set FY 2026 Total Reported Revenue guidance at $813.0 million to $835.0 million.
Earnings surprise model
The model estimates EPS could land above the analysts’ average estimate by 7.7%. Its estimated chance of an EPS beat is 75.0%, based on the last 4 quarters. The model shrinks the median recent surprise toward zero and uses a neutral prior for beat frequency; this small sample is a reference estimate, not company guidance.
Track record against estimates
The company reported EPS above the analysts’ average estimate in 4 of the last 4 quarters. Last quarter, EPS of $0.54 compared with an estimate of $0.45, above it by 20.4%.
The trends going in
That growth rate was down 0.9 percentage points on the rate a quarter earlier. The trailing gross margin was 53.8%. The trailing operating margin was 8.2%, up 11.8 percentage points from a year earlier. The trailing net margin was 5.3%. Net income over the twelve months was $41.5 million.
Cash flow
Cash generation improved. Operating cash flow over the twelve months was $134.9 million, up 2.1% on the year before. Capital spending was $22.9 million, or 2.9% of revenue. Free cash flow, operating cash flow less capital spending, was $112.0 million, up 2.8% on the year before. Free cash flow was 14.3% of revenue (the free-cash-flow margin), down 1.9 percentage points from a year earlier. The average diluted share count rose 0.3% over the year.
Against its own history
Set against the company’s own record: today’s free-cash-flow margin of 14.3% is higher than 54% of the company’s own past quarterly readings, which have ranged from −2.4% to 37.4%. Today’s operating margin of 8.2% is higher than 28% of past readings (−10.9% to 36.2%). Today’s twelve-month revenue growth rate of 16.5% is higher than 33% of past readings (−21.1% to 112.1%).
Questions this report will answer
Whether the slowdown in revenue growth continues. Whether results land above or below the analysts’ expectations set out above. Meanwhile, Whether margins hold at the trailing levels above. The next filing will show whether the trends above continue, slow or reverse.
What it means for our valuation
These trends feed directly into what the shares are worth in our model. In our model, growth 5 percentage points lower would lower the value by 22.9%, and 5 percentage points higher would raise it by 29.4%. A free-cash-flow margin 1 percentage point lower would lower it by 5.8%.
