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It has been about a month since the last earnings report for Conmed (CNMD) . Shares have added about 13.2% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Conmed due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. CONMED Q2 Earnings Beat, Sales Rise Y/Y,'24 View Cut ...

CONMED Corporation (CNMD) delivered adjusted earnings per share (EPS) of 98 cents in the second quarter of 2024, which beat the Zacks Consensus Estimate of 92 cents by 6.5%. The bottom line improved 18.1% from the year-ago quarter's level. GAAP EPS for the quarter was 96 cents compared with 43 cents per share in the year-ago period. The company's shares have lost 14.7% in the past six months against the industry's rise of 1.5%. The broader S&P 500 Index has gained 11.7% in the same time frame. Image Source: ...

Financial Performance - Net sales increased by 4.5% to $332.1 million for the three months ended June 30, 2024, compared to $317.7 million for the same period in 2023, primarily driven by strong growth in the general surgery product line [89]. - General surgery sales rose by 8.9% to $192.6 million for the three months ended June 30, 2024, compared to $176.9 million in the same period of 2023 [90]. - Orthopedic surgery sales decreased by 0.9% to $139.5 million for the three months ended June 30, 2024, compared to $140.8 million in the same period of 2023 [90]. - Net income increased to 9.0% for the three months ended June 30, 2024, compared to 4.3% for the same period in 2023 [88]. - Gross profit margin improved by 160 basis points to 55.3% for the three months ended June 30, 2024, compared to 53.7% for the same period in 2023 [90]. Expenses and Costs - Cost of sales increased to $148.4 million for the three months ended June 30, 2024, compared to $147.0 million for the same period in 2023 [90]. - Selling and administrative expense decreased to $122.5 million in Q2 2024 from $129.7 million in Q2 2023, representing a 5.6% decrease [92]. - Research and development expenses were 4.2% of net sales for the three months ended June 30, 2024, compared to 4.3% for the same period in 2023 [88]. - Research and development expense increased to $14.1 million in Q2 2024 from $13.6 million in Q2 2023, a 3.7% increase [94]. - Interest expense decreased to $9.6 million in Q2 2024 from $10.0 million in Q2 2023, a 4% decrease [95]. - Income tax expense recorded an effective tax rate of 20.1% for Q2 2024 compared to 21.2% for Q2 2023, reflecting a reduction of 1.1 percentage points [97]. Cash Flow and Financing - Net cash provided by operating activities was $72.4 million in the first half of 2024, significantly up from $22.8 million in the same period of 2023 [101]. - Net cash used in investing activities decreased by $4.2 million in the first half of 2024, with capital expenditures at $5.6 million compared to $8.8 million in the prior year [103]. - Net cash used in financing activities increased to $61.1 million in the first half of 2024 from $14.4 million in the same period of 2023 [104]. - The company had $114.6 million in borrowings outstanding on the term loan facility and $62.0 million on the revolving credit facility as of June 30, 2024 [106]. - The company has repurchased a total of 6.1 million shares of common stock for $162.6 million under a $200.0 million share repurchase program [108]. Market and Operational Challenges - The company expects ongoing supply chain challenges and inflationary pressures to impact results through 2024 [86]. - The company is experiencing higher manufacturing and operating costs due to inflationary pressures and ongoing supply chain challenges [106]. - International sales accounted for approximately 44% of consolidated net sales during both the six months ended June 30, 2024, and 2023 [85]. - The company derived approximately 84% of its revenues from single-use products, indicating a strong recurring revenue stream [85].

For the quarter ended June 2024, Conmed (CNMD) reported revenue of $332.1 million, up 4.6% over the same period last year. EPS came in at $0.98, compared to $0.83 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $334.56 million, representing a surprise of -0.74%. The company delivered an EPS surprise of +6.52%, with the consensus EPS estimate being $0.92. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expe ...

Conmed (CNMD) came out with quarterly earnings of $0.98 per share, beating the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $0.83 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 6.52%. A quarter ago, it was expected that this medical technology company would post earnings of $0.74 per share when it actually produced earnings of $0.79, delivering a surprise of 6.76%. Over the last four quarters, the ...

CONMED Investor Presentation Q2 2024 Earnings Call Curt R. Hartman Chair of the Board, President, and Chief Executive Officer Todd W. Garner Executive Vice President and Chief Financial Officer July 31, 2024 Forward-Looking Information 2 This presentation may contain forward-looking statements based on certain assumptions and contingencies that involve risks and uncertainties, which could cause actual results, performance, or trends to differ materially from those expressed in the forwardlooking statements ...

| --- | --- | --- | --- | |-------|-------|-------|------------------------------------------------| | | | | NEWS RELEASE | | | | | CONTACT : | | | | | CONMED Corporation | | | | | Todd W. Garner Chief Financial Officer | | | | | 727-214-2975 | | | | | ToddGarner@conmed.com | CONMED Corporation Announces Second Quarter 2024 Financial Results Largo, Florida, July 31, 2024 – CONMED Corporation (NYSE: CNMD) today announced financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highli ...

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 31. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This medical technology company is expected to post quarterly ...

CONMED Corporation (CNMD) delivered adjusted earnings per share (EPS) of $0.79 in first-quarter 2024, which beat the Zacks Consensus Estimate of $0.74 by 6.8%. The bottom line improved 19.7% from the year-ago quarter’s level.GAAP EPS for the quarter was 63 cents compared with 6 cents per share in the year-ago period.The company’s shares have lost 25.8% in the past six months against the industry’s rise of 10.0%. The broader S&P 500 Index has gained 23% in the same time frame.Image Source: Zacks Investment R ...