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Globus Medical (GMED)
NYSE:GMED
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.74Last Year’s EPS
$0.6Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: 9.33%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
Globus Medical's earnings call highlighted strong sales growth and successful product launches, along with record free cash flow and an increase in annual guidance. However, challenges such as the FDA warning letter and a decline in gross profit margins were noted. Overall, the positive aspects of growth and innovation outweigh the concerns.Company Guidance
In the third quarter of 2024, Globus Medical reported impressive financial performance and growth metrics, with sales reaching $626 million, a 63% increase, translating to a $242 million rise from the previous year. The company achieved a record non-GAAP EPS of $0.83, which represented a 45% increase despite a 20% rise in diluted shares. Additionally, Globus Medical recorded a free cash flow of $162 million, matching its total for the entire fiscal year of 2023. The U.S. Spine segment grew by 55%, driven by robust product portfolio performance and competitive recruitment. The international spinal implant business saw an 86% growth on a constant currency basis, while the combined trauma and NuVasive specialty orthopedic business delivered 99% growth. Enabling Technology sales also increased by 39%, with a significant boost in robotic procedures. For the full year, Globus Medical raised its net sales guidance to $2.49 billion to $2.5 billion, aiming for a 3.9% to 4.3% growth over the prior year's pro forma revenues, and adjusted EPS guidance to a range of $2.90 to $3.00.Record Sales and Growth
Globus Medical reported exceptional third-quarter sales of $626 million, growing 63% or $242 million. Non-GAAP EPS was a record $0.83, increasing 45% even with a 20% increase in diluted shares versus the prior year.
Successful Product Launches
Globus launched 4 new products in Q3, reaching 13 product launches year-to-date, with plans for more by the end of the year. These innovations include the Excelsius Navigation hub and the ACTIFY 3D Total Knee System.
Strong International and Musculoskeletal Revenue
International spinal implant business delivered record sales in Q3, growing 86% on a constant currency basis. Musculoskeletal revenue was $587.4 million, growing 65% compared to the prior year.
Enabling Technology Sales Growth
Enabling Technology sales were $38 million, an increase of 39% versus prior year. Q3 was the highest number of unit placements since launch, growing 50% over prior Q3.
Record Free Cash Flow
Record free cash flow of $162 million in Q3, equivalent to the 2023 full year free cash flow.
Increased Guidance for 2024
Globus Medical increased its guidance, expecting 2024 net sales to be in the range of $2.49 billion to $2.5 billion, with revised non-GAAP EPS expected to be in the range of $2.90 to $3 per fully diluted share.
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GMED 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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GMED Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $75.58 | $82.71 | +9.43% |
| Aug 06, 2024 | $69.05 | $70.53 | +2.14% |
| May 07, 2024 | $51.36 | $61.73 | +20.19% |
| Feb 20, 2024 | $54.16 | $55.00 | +1.55% |
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 Globus Medical (GMED) report earnings?
Globus Medical (GMED) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Globus Medical (GMED) earnings time?
Globus Medical (GMED) earnings time is at Feb 20, 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 GMED EPS forecast?
GMED EPS forecast for the fiscal quarter 2024 (Q4) is $0.74.
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