Globus Medical (GMED) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Globus Medical reported a revenue of $625.71 million for the quarter ended September 2024, marking a 63.1% increase year-over-year and exceeding the Zacks Consensus Estimate by 3.44% [1] - The company's EPS for the quarter was $0.83, up from $0.57 in the same quarter last year, representing a surprise of 27.69% over the consensus estimate of $0.65 [1] Revenue Performance - International revenues reached $129.92 million, surpassing the estimated $117.63 million, reflecting a 75% increase compared to the previous year [3] - U.S. revenues totaled $495.79 million, exceeding the average estimate of $483.82 million, with a year-over-year growth of 60.3% [3] Product Category Sales - Net sales from Enabling Technologies were $38.30 million, above the estimated $31.12 million, indicating a 38.5% increase year-over-year [3] - Musculoskeletal Solutions generated $587.40 million in sales, compared to the average estimate of $572.79 million, representing a 69.1% year-over-year growth [3] Stock Performance - Shares of Globus Medical have increased by 6.9% over the past month, contrasting with a -0.5% change in the Zacks S&P 500 composite [4] - The stock holds a Zacks Rank 2 (Buy), suggesting potential outperformance against the broader market in the near term [4]