Masimo reports Q3 adjusted EPS 98c, consensus 84c

Reports Q3 revenue $504.6M, consensus $502.67M. Michelle Brennan, Interim Chief Executive Officer of Masimo (MASI), said, “We are pleased to report strong third quarter performance, driven by our core healthcare segment. We appreciate the commitment and energy of our employees, which has resulted in a seamless transition since our Annual Meeting with no disruption to our business or departures of critical talent. Our focus is on positioning Masimo to achieve its significant long-term growth potential by capitalizing on the many opportunities we see ahead of us, including through our ongoing review of the product portfolio and R&D projects. We are allocating resources to fewer projects, concentrating on sizable market opportunities that address clear unmet needs, and reducing spending in areas that are not contributing to our long-term growth objectives. We are also progressing on our strategic review of the consumer business and are focused on delivering the best outcome for our shareholders. We are confident in our position as we approach the end of 2024, as demonstrated by our increased full-year non-GAAP operating margin and EPS guidance. With the support of our talented team and our newly expanded Board, we will continue to execute on our strategy while enhancing shareholder value as we look to next year and beyond.”