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Conmed (CNMD)
NYSE:CNMD
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.21Last Year’s EPS
$1.06Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 5.47%
|Next Earnings Date:Jan 30, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected positive developments in revenue and earnings growth, strong performance in the U.S. market, and successful leadership succession. However, challenges were noted with international sales, impacts from recent hurricanes, and IV fluid shortages affecting procedure scheduling.Company Guidance
During the CONMED Q3 2024 earnings call, the company reported total sales of $316.7 million, reflecting a 4% increase year-over-year as reported and 4.3% in constant currency. U.S. sales were up by 7.4%, while international sales saw a marginal growth of 0.2%. The Orthopedics segment experienced a 5.2% increase, with U.S. sales growing by 7.4% and international sales by 3.9%. General Surgery revenue increased by 3.6%, with U.S. growth at 7.4%, although there was a 5.0% decline internationally. The company achieved a GAAP net income of $49 million, significantly up from $15.8 million in Q3 2023, while adjusted net income rose 15% year-over-year to $32.7 million. Adjusted diluted earnings per share grew by 16.7% to $1.05. The call also touched on impacts from recent hurricanes and outlined an updated full-year revenue guidance between $1.3 billion and $1.305 billion, with an EPS projection of $4 to $4.05, representing growth between 15.9% and 17.4%. Additionally, the company announced a succession plan, with Pat Beyer set to take over as CEO following Curt Hartman's retirement.Revenue and Earnings Growth
Total sales for the quarter were $316.7 million, representing a year-over-year increase of 4% as reported and 4.3% in constant currency. GAAP net income was $49 million, compared to $15.8 million in the third quarter of 2023. Adjusted net income increased by 15% year-over-year, and adjusted diluted net earnings per share increased by 16.7%.
Strong Performance in U.S. Market
U.S. sales increased 7.4% versus the prior year quarter. U.S. Orthopedic sales increased 7.4% and U.S. General Surgery revenue grew 7.4%.
Successful Succession Planning
Patrick Beyer was announced as the next CEO, continuing the company's growth strategy with a focus on innovation and customer engagement.
Improvement in Orthopedic Supply Chain
Progress made in improving the orthopedic supply chain, with a focus on manufacturing capability and vendor relations.
AirSeal Growth
AirSeal saw continued strong growth in U.S. capital sales and maintained strong growth internationally despite high comparables.
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CNMD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CNMD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $65.07 | $68.04 | +4.56% |
| Jul 31, 2024 | $68.66 | $64.98 | -5.36% |
| Apr 24, 2024 | $69.43 | $61.39 | -11.58% |
| Jan 31, 2024 | $94.59 | $82.88 | -12.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Conmed (CNMD) report earnings?
Conmed (CNMD) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is Conmed (CNMD) earnings time?
Conmed (CNMD) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CNMD EPS forecast?
CNMD EPS forecast for the fiscal quarter 2024 (Q4) is $1.21.
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