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Heska grows losses but beats Wall Street expectations

LOVELAND — Heska Corp. (Nasdaq: HSKA) saw its sales shrink and losses mount in the fourth quarter of 2022, but the Loveland-based veterinary products company still managed to exceed Wall Street expectations.

The company posted $66.3 million in revenue for the fourth quarter of 2022, down 2.5% from the same period in 2021. That beat out Zacks Consensus estimate of $64 million in sales.

Heska’s fourth quarter 2022 loss was $4.2 million in its fourth quarter of last fiscal year, compared to a loss of about $500,000 in the fourth quarter of 2021. 

“Heska finished 2022 with great execution and growing momentum for 2023 to deliver full year results ahead of expectations across most key metrics,” Heska CEO Kevin Wilson said in a prepared statement. “…In addition to our financial results, Heska invested heavily throughout 2022 to prepare several major drivers of future growth, proprietary differentiation, and scalable capabilities.”

For the 2023 fiscal year, Heska is projecting sales of $278 million to $288 million.

Heska’s stock closed today at $81.43, down from its $83.30 opening.

Source: BizWest