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研究快訊:東芝商所:利潤率擴張助力第一季每股收益超預期

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-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下:DXCM 2026年第一季銷售額年增15%(其中12%為內生成長),達到11.92億美元,主要得益於美國市場11%的成長和國際市場26%的成長。調整後每股收益為0.56美元,較上年同期成長75%。調整後營業利益率年增840個基點至22.2%,毛利率提升600個基點至63.5%,主要得益於有利的產品組合及營運效率提升措施。近期在美國推出的G7 15天動態血糖監測系統,可延長用戶兩次監測設備間的配戴時間,並提升監測精準度;同時,推出給非胰島素使用者的Stelo OTC產品也新增了智慧飲食記錄功能。管理層將2026年調整後營業利潤率預期上調至23%-23.5%,同時重申了51.6億美元-52.5億美元的營收預期。我們認為,DXCM擁有24.2億美元的現金及等價物,且淨債務為負,因此保持相當可觀的財務彈性。我們預計,在即將於5月27日舉行的股東/分析師日上,DXCM將對其長期策略展望進行更詳細的闡述。

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