CONMED Corporation (CNMD) is well poised for growth in the coming quarters, courtesy of its broad product spectrum. The optimism, led by the solid recurring revenue base and potential in General Surgery, is expected to contribute further. However, headwinds from supply-chain constraints and data security threats persist.Shares of this Zacks Rank #3 (Hold) company have lost 3.3% in the past six months against the industry’s 6.5% growth. The S&P 500 Index has increased 14.3% in the same time frame.CONMED, a r ...

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CONMED Corporation (CNMD) delivered third-quarter 2024 adjusted earnings per share (EPS) of $1.05, which beat the Zacks Consensus Estimate of 99 cents by 6.1%. The bottom line improved 16.7% from the year-ago level.GAAP EPS for the quarter was $1.57 compared with 50 cents in the year-ago period.The company’s shares have lost 40.4% so far this years compared with the industry’s decline of 1.5%. The broader S&P 500 Index has gained 22.9% in the same time frame.Image Source: Zacks Investment ResearchRevenues i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Common Stock, $0.01 par value CNMD NYSE Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the ...

Financial Data and Key Metrics Changes - Total sales for Q3 2024 were $316.7 million, a year-over-year increase of 4% as reported and 4.3% in constant currency [7] - GAAP net income for Q3 2024 was $49 million, compared to $15.8 million in Q3 2023, while adjusted net income increased 15% year-over-year to $32.7 million [8][32] - Adjusted diluted net earnings per share were $1.05, reflecting a 16.7% increase year-over-year [8][32] - Adjusted gross margin for Q3 was 56.5%, an increase of 60 basis points compared to the prior year [31] Business Line Data and Key Metrics Changes - U.S. orthopedic sales increased by 7.4%, while international orthopedic sales grew by 3.9% [26] - General Surgery revenue increased by 3.6% globally, with U.S. revenue growing by 7.4% but international revenue declining by 5% [28] - AirSeal capital sales in the U.S. continued strong growth, with no slowdown in demand for disposables [21][29] Market Data and Key Metrics Changes - U.S. sales increased by 7.4% compared to the prior year, while international sales grew by only 0.2% [26] - The orthopedic business showed resilience with a 5.2% growth worldwide, despite challenges in the supply chain [26] Company Strategy and Development Direction - The company is focused on improving service levels in the sports medicine space and addressing supply chain issues in orthopedics [27][23] - A succession plan was announced, with Pat Beyer set to take over as CEO, emphasizing a commitment to innovation and customer engagement [14][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of Hurricanes Helene and Milton on operations and production, which may affect Q4 results [24][35] - The company expects Q4 revenue to be between $339 million and $344 million, with full-year guidance adjusted to between $1.300 billion and $1.305 billion [37] Other Important Information - The company reported a cash balance of $38.5 million at the end of the quarter, an increase from $28.9 million [33] - Long-term debt decreased to $940 million, with a leverage ratio of 3.6 times [34] Q&A Session Summary Question: General Surgery performance and capital equipment revenues - Management explained that the decline in capital equipment revenues was due to last year's strong performance and backorders being resolved [40][41] Question: Orthopedic supply situation and future impact - Management confirmed progress in supply chain improvements but acknowledged that challenges may extend into 2025 [43][46] Question: Top priorities for 2025 - The new CEO emphasized focusing on customer engagement, employee connection, and advancing the company's growth [56] Question: Impact of IV fluid shortages on procedures - Management confirmed that hospitals have started reallocating and deferring procedures due to shortages, which has been factored into guidance [57] Question: Outlook for gross margins - Management expressed confidence in maintaining gross margin improvements, with expectations for Q4 around 57% [59] Question: Contingent consideration adjustments - Management clarified that adjustments were related to slower-than-expected performance in the foot and ankle business, but overall confidence in acquisitions remains strong [60][61]

For the quarter ended September 2024, Conmed (CNMD) reported revenue of $316.7 million, up 4% over the same period last year. EPS came in at $1.05, compared to $0.90 in the year-ago quarter. The reported revenue represents a surprise of -0.55% over the Zacks Consensus Estimate of $318.46 million. With the consensus EPS estimate being $0.99, the EPS surprise was +6.06%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

Conmed (CNMD) came out with quarterly earnings of $1.05 per share, beating the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 6.06%. A quarter ago, it was expected that this medical technology company would post earnings of $0.92 per share when it actually produced earnings of $0.98, delivering a surprise of 6.52%. Over the last four quarters, the ...