Workflow
CONMED (CNMD) - 2025 Q1 - Quarterly Results
CNMDCONMED (CNMD)2025-04-30 20:13

Financial Performance - CONMED Corporation reported first quarter 2025 sales of 321.3million,anincreaseof2.9321.3 million, an increase of 2.9% year-over-year and 3.8% in constant currency[7]. - Domestic revenue grew by 4.2% year-over-year, while international revenue increased by 1.2% as reported and 3.4% in constant currency[7]. - Full-year reported revenue is now expected to be between 1.350 billion and 1.378billion,comparedtothepriorguidanceof1.378 billion, compared to the prior guidance of 1.344 billion to 1.372billion[4].−NetincomeforthethreemonthsendedMarch31,2025,was1.372 billion[4]. - Net income for the three months ended March 31, 2025, was 6.036 million, a decrease of 69.4% compared to 19.709millioninthesameperiodof2024[20].−AdjustedEBITDAincreasedto19.709 million in the same period of 2024[20]. - Adjusted EBITDA increased to 61.302 million, up 8.9% from 56.301millionyear−over−year[20].EarningsandMargins−Adjusteddilutednetearningspersharefor2025areexpectedtobeintherangeof56.301 million year-over-year[20]. Earnings and Margins - Adjusted diluted net earnings per share for 2025 are expected to be in the range of 4.45 to 4.60,upfromthepreviousrangeof4.60, up from the previous range of 4.25 to 4.40[5].−Dilutednetearningspershare(GAAP)were4.40[5]. - Diluted net earnings per share (GAAP) were 0.19, down from 0.63inthefirstquarterof2024[7].−Thecompany′sgrossprofitmarginforthefirstquarterwas55.30.63 in the first quarter of 2024[7]. - The company's gross profit margin for the first quarter was 55.3%, slightly up from 55.1% in the same quarter of 2024[11]. - EBITDA margin for the three months ended March 31, 2025, was 10.6%, down from 17.0% in the same period of 2024[20]. Expenses and Costs - Research and development expenses for the first quarter were 12.9 million, compared to 13.6millioninthefirstquarterof2024[11].−Thecompanyincurredexecutivetransitioncostsof13.6 million in the first quarter of 2024[11]. - The company incurred executive transition costs of 12.165 million during the quarter, which were not present in the previous year[20]. - Interest expense decreased to 8.286millionfrom8.286 million from 9.594 million, reflecting a reduction of 13.7%[20]. - Provision for income taxes was 1.636million,downfrom1.636 million, down from 5.710 million, indicating a decrease of 71.3%[20]. Currency and Tariff Impact - The company anticipates a negative impact of approximately 0.14onEPSinthesecondhalfof2025duetorecenttariffannouncements[5].−Thecompanyexpectsrevenuecurrencyheadwindsofapproximately50to70basispoints,animprovementfromthepreviousestimateof100to120basispoints[4].−Thecompanyanalyzesnetsalesonaconstantcurrencybasistomeasurecomparabilitybetweenperiods,excludingtheimpactofforeigncurrencyexchangerates[24].InvestorEngagement−Thecompanywillhostaconferencecalltodiscussthefirstquarterresults,indicatingongoingengagementwithinvestors[8].−Forward−lookingstatementsindicatepotentialrisksanduncertaintiesthatcouldaffectfutureperformance,asdetailedinthecompany′sAnnualReport[22].OtherFinancialMetrics−Thecompanyreportedagainonthesaleofaproductlineamountingto0.14 on EPS in the second half of 2025 due to recent tariff announcements[5]. - The company expects revenue currency headwinds of approximately 50 to 70 basis points, an improvement from the previous estimate of 100 to 120 basis points[4]. - The company analyzes net sales on a constant currency basis to measure comparability between periods, excluding the impact of foreign currency exchange rates[24]. Investor Engagement - The company will host a conference call to discuss the first quarter results, indicating ongoing engagement with investors[8]. - Forward-looking statements indicate potential risks and uncertainties that could affect future performance, as detailed in the company's Annual Report[22]. Other Financial Metrics - The company reported a gain on the sale of a product line amounting to (354) thousand, with no comparable figure in the previous year[20]. - The company emphasizes the importance of non-GAAP measures, such as adjusted net income and adjusted diluted EPS, for understanding financial results[23].