Enovis (ENOV) came out with quarterly earnings of $0.73 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.87%. A quarter ago, it was expected that this manufacturing and engineering company would post earnings of $0.60 per share when it actually produced earnings of $0.62, delivering a surprise of 3.33%.Over the last four qu ...

enovis Enovis Announces Third Quarter 2024 Results • Continued commercial momentum with third-quarter sales growth of 21% on a reported basis and strong adjusted EBITDA margin expansion • Reconstructive sales grew 57% Y/Y on a reported basis and 9% on a Comparable basis • Reported third-quarter net loss from continuing operations of $0.61 per share, adjusted net income per diluted share of $0.73, up +30% Y/Y WILMINGTON, DE, November 6, 2024 (GLOBE NEWSWIRE)—Enovis™ Corporation (NYSE: ENOV), an innovation-dr ...

Continued commercial momentum with third-quarter sales growth of 21% on a reported basis and strong adjusted EBITDA margin expansionReconstructive sales grew 57% Y/Y on a reported basis and 9% on a Comparable basisReported third-quarter net loss from continuing operations of $0.61 per share, adjusted net income per diluted share of $0.73, up +30% Y/Y Wilmington, DE, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Enovis™ Corporation (NYSE: ENOV), an innovation-driven medical technology growth company, today announced it ...

JMP Securities initiated coverage on Enovis Corporation ENOV, a medical technology company focusing on orthopedics. The analyst adds that the company sells a broad portfolio of products, many of which were added via selective acquisitions (around 20 over the last 4.5 years). The analyst views M&A as a core competency. The company's product offerings span large joint reconstruction implants, extremity solutions, and various prevention and recovery franchises. These lines enable comprehensive care, addressing ...

WILMINGTON, DE, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Enovis™ (NYSE: ENOV), an innovationdriven medical technology growth company, is pleased to announce the appointment of Tim Czartoski to the position of President, U.S. Surgical and Global Product and Enabling Technologies. Mr. Czartoski has direct responsibility for the Company's U.S. Surgical business, including the global surgical product engine and enabling technologies. He reports to Louie Vogt, Group President of Enovis' Reconstructive (Recon) Business ...

Enovis Corporation (ENOV) has announced the release of its Scandinavian Total Ankle Replacement (STAR Ankle), featuring e+ Polyethylene. Recently approved by the FDA, the STAR Ankle with e+ Polyethylene marks a significant advancement in ankle replacement technology, making it the first mobile-bearing ankle system with this material in the United States. The inclusion of e+ Polyethylene, a vitamin E-blended material known for its oxidative resistance and enhanced mechanical properties, promises to elevate t ...

WILMINGTON, DE, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Enovis™ (NYSE: ENOV), an innovationdriven medical technology growth company, announced today the expansion of its EMPOWR Revision Knee™ system to include EMPOWR™ Cones. The addition of the stackable tibial, femoral, and diaphyseal cones increases options for treating bone defects, creating a comprehensive portfolio to support complex revision needs. The FDA cleared use of the EMPOWR™ Cones with EMPOWR Revision Knee™ earlier this year. The EMPOWR Revision Kne ...

Wilmington, DE, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Enovis™ Corporation (NYSE: ENOV), an innovation-driven medical technology company, proudly unveils its Scandinavian Total Ankle Replacement (STAR® Ankle), now with new e+™ Polyethylene. Recent U.S. Food and Drug Administration (FDA) approval makes STAR® Ankle the first and only mobile bearing ankle system with e+™ Polyethylene in the United States.1 The implant's new vitamin E-blended e+™ Polyethylene insert will offer improved durability, stability, and lon ...

Wilmington, DE, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Enovis™ Corporation (NYSE: ENOV), an innovation-driven, medical technology growth company, today announced that its management team will participate in the following investor conferences: Canaccord Genuity 44th Annual Growth Conference: Ben Berry, Chief Financial Officer, will participate in a fireside chat on Tuesday, August 13th at 2:00 p.m. Eastern Time. Wells Fargo Healthcare Conference: Ben Berry, Chief Financial Officer, will participate in a fireside ...

Financial Data and Key Metrics Changes - The company reported second quarter sales of $525 million, representing a 23% increase year-over-year and a 5% increase on a comparable basis [13][14] - Adjusted EBITDA grew by 36%, with a margin of 17.2%, up 190 basis points compared to Q2 2023 [14] - Adjusted gross margin was 59.6%, an increase of 160 basis points year-over-year [14] Business Line Data and Key Metrics Changes - The Recon segment achieved 60% reported global revenue growth, with a 7% increase on a comparable basis [5] - The P&R segment experienced 3% comparable growth, reflecting a stable market environment [12] - U.S. Recon grew only 1%, with extremities and hips/knees each growing by 2%, indicating temporary challenges [5][9] Market Data and Key Metrics Changes - International markets for Recon grew by 14%, demonstrating resilience despite integration challenges [5] - The U.S. knee and hip business reported year-to-date growth of 2%, significantly below historical trends of over 17% [9] - The U.S. shoulder segment faced the most direct overlap with Lima, impacting growth due to integration-related disruptions [10][35] Company Strategy and Development Direction - The company is focused on integrating Lima and executing a multi-year plan to position itself as a high-growth global orthopedics player [6][7] - Cost synergy targets of $40 million within three years are aimed at eliminating duplicative functions and improving global processes [8] - New product launches, including a surgical impaction system and new hip stem designs, are expected to drive growth in 2025 and beyond [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that Q2 was the peak for integration-related dissynergies, expecting a tapering effect in the second half of the year [21] - The company anticipates a stronger second half of 2024, driven by annualizing higher prior year comparisons and realizing benefits from cross-selling [15][18] - Management highlighted the importance of innovation and product launches in sustaining growth and improving market share [49][50] Other Important Information - The company adjusted its full-year revenue guidance to a range of $2.08 billion to $2.13 billion, tightening the previous range [15] - The effective tax rate for the quarter was reported at 24%, an increase from 18% the previous year [14] - The company is raising its adjusted earnings per share range by $0.10 to $2.62 to $2.77 [16] Q&A Session Summary Question: Integration headwinds and confidence in the second half - Management confirmed that Q2 was expected to be the apex of integration-related headwinds, with a tapering effect anticipated in the second half [21] Question: Hiring trends and retention efforts post-Lima deal - Management reported strong retention of critical talent post-acquisition, with attrition levels running below expectations [24] Question: Performance relative to guidance and market conditions - Management acknowledged that while the results were not a beat, they aligned with expectations and market conditions were stable [27] Question: Guidance adjustments and divestiture impacts - Updated guidance includes the impact of divestitures, which were not accounted for in prior guidance [32] Question: Phasing of dissynergies and product ramp-up - Management indicated that dissynergies would decrease progressively, with more significant impacts expected in Q4 due to new product launches [42] Question: Sustainability of shoulder business growth amid competition - Management expressed confidence in the shoulder business returning to strong growth, supported by new product launches and innovative solutions [48][50] Question: Cross-selling benefits and early wins - Early wins in cross-selling were noted, particularly in international markets, with positive energy from combined teams [60][61]