Investors might want to bet on ResMed (RMD) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a cha ...

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Operating Cash Flow ($M) Free Cash Flow ($M) $134.1 $113.9 $109.0 LTM 3Q22 LTM 3Q23 LTM 3Q24 $364.1 $421.5 LTM 3Q22 LTM 3Q23 LTM 3Q24 Total debt outstanding $1,007M Net Debt $769M (Financial data as of March 31, 2024) 16 © 2024 ResMed | Q3 2024 Earnings Presentation – Apr. 25, 2024 Capital deployed over last 3 years (through March 31, 2024) Reinvest for growth • Reinvest in product development for high-return organic growth • Pursue targets aligned with long-term strategic goals and financial objectives • R ...

ResMed Inc. (NYSE:RMD) Q3 2024 Earnings Conference Call April 25, 2024 4:30 PM ET Company Participants Amy Wakeham - Chief Communications and Investor Relations Officer Mick Farrell - Chief Executive Officer Brett Sandercock - Chief Financial Officer Conference Call Participants Dan Hurren - MST Marquee Laura Sutcliffe - UBS Craig Wong-Pan - RBC David Bailey - Macquarie Anthony Petrone - Mizuho Group Suraj Kalia - Oppenheimer Margaret Kaczor-Andrew - William Blair Gretel Janu - E&P Brett Fishbin - KeyBanc M ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ______________________________________________________________________________________________ FORM 10-Q ______________________________________________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...

ResMed Inc. Announces Results for the Third Quarter of Fiscal Year 2024 Note: A webcast of ResMed's conference call will be available at 4:30 p.m. ET today at http://investor.resmed.com SAN DIEGO, April 25, 2024 – ResMed Inc. (NYSE: RMD, ASX: RMD) today announced results for its quarter ended March 31, 2024. Third Quarter 2024 Highlights All comparisons are to the prior year period "ResMed's strong third-quarter fiscal year 2024 results reflect robust patient and customer demand for our products and softwar ...

Financial Data and Key Metrics - Net income for the December quarter increased by 13%, and non-GAAP diluted earnings per share also increased by 13% [8] - Cash flow from operations for the quarter was $273 million, reflecting solid underlying earnings and relatively stable working capital balances [4] - Capital expenditure for the quarter was $23 million, and depreciation and amortization totaled $45 million [4] - The effective tax rate for the December quarter was 20.7%, up from 18.3% in the prior year quarter, primarily due to a reduction in tax benefits related to employee equity compensation [8] - Group revenue for the December quarter was $1.16 billion, a 12% headline increase and 11% in constant currency terms [110] Business Line Data and Key Metrics - Software-as-a-Service (SaaS) revenue increased by 24% in the December quarter, driven by the MEDIFOX DAN acquisition and strong performance in the HME vertical [26] - Excluding the MEDIFOX DAN acquisition, SaaS revenue grew by 10% in the December quarter [26] - Device sales globally increased by 11%, while masks and other sales increased by 9% [25] - In the U.S., Canada, and Latin America, device sales increased by 7%, and masks and other sales increased by 10% [111] - In Europe, Asia, and other markets, device sales increased by 16%, while masks and other sales increased by 4% [111] Market Data and Key Metrics - Sales in the U.S., Canada, and Latin America increased by 9%, while sales in Europe, Asia, and other markets increased by 12% [25] - The company's AirSense 11 platform is the best-in-class globally, with regulatory approvals in key markets and ongoing efforts to expand to all 140 countries [19][152] - The company is monitoring potential headwinds from the Middle East conflict, which could increase sea freight costs and shipping lead times [113] Company Strategy and Industry Competition - The company is focused on leveraging digital health technology, including AI-driven solutions like Compliance Coach, to improve patient adherence and outcomes [20][80] - ResMed is investing in alternative therapies for patients who do not adhere to positive airway pressure, including dental devices and hypoglossal nerve stimulation technology [63] - The company is competing globally with other players in the respiratory health market, maintaining its leadership position with innovative products like the AirSense 11 [19][42] - ResMed is leveraging megatrends from Big Pharma (e.g., GLP-1 medications) and big consumer tech (e.g., sleep wellness tracking) to drive patient growth [12][103] Management Commentary on Operating Environment and Future Outlook - Management expects sustainable organic growth in SaaS solutions to be in the high-single digits for fiscal year 2024, with stable double-digit growth expected through fiscal year 2025 and beyond [14] - The company is focused on driving topline revenue growth, cost discipline, and operational efficiencies to accelerate profitability [22] - Management highlighted the positive impact of GLP-1 medications on patient engagement and growth in the sleep apnea treatment market, with a 10% higher likelihood of patients starting CPAP therapy when prescribed GLP-1 [37][78] - The company is closely monitoring freight disruptions in the Red Sea, which could impact shipping costs and lead times in the coming quarters [148] Other Important Information - The company recorded a $6.4 million provision for expected costs related to the Masks with magnets field safety notification, treated as a non-GAAP item [4] - Restructuring-related charges of $64.2 million were recorded in the quarter, including employee severance and intangible asset impairments [9] - The company resumed its share buyback program, purchasing 335,000 shares for $50 million in the December quarter [10] - ResMed is investing in R&D, with R&D expenses increasing by 6% in the quarter, representing 6.4% of revenue [29] Q&A Session Summary Question: Impact of GLP-1 medications on CPAP therapy growth [15] - Management agreed that GLP-1 medications could lead to a 13% larger market annually, with a 10% higher likelihood of patients starting CPAP therapy when prescribed GLP-1 [37][78] Question: Gross margin trajectory and pricing impact [34] - Management noted that gross margin increased by 90 basis points, driven by reduced freight costs and higher average selling prices, with some pricing benefits expected to roll through progressively [113][52] Question: Philips' re-entry into the market and competitive dynamics [56] - Management stated that Philips is re-entering markets with a focus on low-end competition, but ResMed remains confident in its leadership position with superior technology like the AirSense 11 [42][57] Question: Compliance Coach and AI-driven solutions [47] - Compliance Coach is an AI tool designed to improve patient adherence, with success measured by lower costs, higher efficiency, and improved adherence rates [49][144] Question: Impact of Red Sea disruptions on freight costs [148] - Management acknowledged potential headwinds from Red Sea disruptions, with increased freight costs and lead times expected, particularly for shipments to Europe and the U.S. [148] Question: Transition timeline for the AirSense 11 platform [152] - Management explained that the transition to the AirSense 11 platform is ongoing, with regulatory approvals required in each of the 140 countries where ResMed operates [152][153]

In addition to historical information, this presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on ResMed's current expectations of future revenue or earnings, new product development, new product launches, new markets for its products, integration of acquisitions, leveraging of strategic investments, litigation, and tax outlook. Forward-looking statements can generally be identified by term ...