Enovis Announces Fourth Quarter and Full Year 2024 Results

Core Insights - Enovis Corporation reported a strong financial performance for the fourth quarter and full year of 2024, with net sales reaching $561 million in Q4, representing a 23% increase year-over-year [2][5] - The company experienced significant growth in its Global Reconstructive segment, particularly due to the acquisition of Lima, with reported sales growth of 59% in Q4 [2][9] - Despite the sales growth, Enovis reported a net loss from continuing operations of$ 704 million in Q4, primarily due to a non-cash goodwill impairment charge of $645 million [3][4] Financial Performance - Fourth-quarter net sales of$ 561 million grew 23% on a reported basis and 6% on a Comparable Sales basis compared to Q4 2023 [2] - Full-year 2024 net sales totaled $2.1 billion, also reflecting a 23% increase on a reported basis [5] - Adjusted EBITDA for Q4 was$ 113 million, or 20% of sales, marking a 210 basis points increase from the prior year [3] Segment Performance - The Reconstructive segment saw a 59% increase in net sales on a reported basis in Q4, with a 10% growth in Comparable Sales [2][9] - The Prevention & Recovery segment experienced a modest growth of 2% on a reported basis in Q4 [2] Future Outlook - For 2025, Enovis expects revenue to be in the range of $2.19 to$ 2.22 billion, indicating an organic growth of 6-6.5% [6] - Adjusted EBITDA for 2025 is forecasted to be between $405 million and$ 415 million, representing a year-over-year expansion of 60-70 basis points [6] Leadership Transition - CEO Matt Trerotola announced his intention to retire, with the transition to a new CEO to be addressed during the financial results conference call [10]