Azenta Inc

F:BA3

Beat: Azenta said third-quarter revenue of $161 million came in ahead of expectations, with organic growth of 9% and adjusted EBITDA margins of 11.4%, up 610 basis points sequentially.

Demand: Sample Management Solutions and Multiomics both grew organically, helped by recurring revenue businesses, stronger activity in Europe and China, and a modest pickup in North America.

Outlook: Full-year revenue guidance was raised to $613 million to $618 million and organic revenue guidance improved to approximately flat to up 1%, but management stayed cautious about the fourth quarter and the broader market.

Multiomics: North America improved modestly, but management said the recovery is still early and uneven; Europe and China remained strong, while Sanger continued to weigh on results.

Capital allocation: Azenta completed the B Medical Systems divestiture, repurchased $50 million of stock, and said it still has about $200 million left under its buyback program.

Turnaround: Management emphasized ongoing footprint rationalization, modular store redesign, and cost optimization in automated stores, cryo systems, and Multiomics as key parts of the turnaround.