Core Insights - ResMed (RMD) is expected to report quarterly earnings of $2.68 per share, reflecting a 10.3% increase year-over-year, with revenues projected at $1.39 billion, an 8.3% increase from the previous year [1] Earnings Projections - Changes in earnings projections are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate trends and short-term stock price movements [2] Analyst Forecasts - Analysts project 'Global revenue- Total Sleep and Breathing Health' to be $1.20 billion, indicating a 6.3% year-over-year increase [4] - 'Global revenue- Total Devices' is expected to reach $712.11 million, reflecting a 6.4% increase from the prior year [4] - 'Global revenue- Total Masks and other' is estimated at $500.27 million, suggesting a 9.6% year-over-year change [4] Regional Revenue Estimates - The consensus for 'U.S., Canada, and Latin America- Devices' is $439.35 million, indicating a 6% increase year-over-year [5] - 'U.S., Canada, and Latin America- Masks and other' is projected to reach $367.97 million, reflecting a 10% increase from the previous year [5] - 'Combined Europe, Asia, and other markets- Total' is expected to be $405.06 million, indicating a 7.6% year-over-year change [5] Additional Market Insights - 'Combined Europe, Asia, and other markets- Devices' is estimated at $272.76 million, suggesting a 7.1% increase year-over-year [6] - 'Combined Europe, Asia, and other markets- Masks and other' is projected to be $132.30 million, reflecting an 8.6% increase from the prior year [6] - The estimated 'U.S., Canada, and Latin America- Total' is $807.32 million, indicating a 7.8% increase year-over-year [7] Stock Performance - ResMed shares have returned +5.2% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change, with a Zacks Rank 2 (Buy) indicating expected outperformance in the near future [7]

Core Insights - Resmed (RMD) is scheduled to announce its second-quarter fiscal 2026 results on January 29, with adjusted earnings per share (EPS) of $2.55 in the last quarter, exceeding the Zacks Consensus Estimate by 2.41% [1] Group 1: Q2 Estimates - The Zacks Consensus Estimate for Resmed's revenues in Q2 fiscal 2026 is $1.39 billion, reflecting an 8.3% increase from the previous year [2] - The EPS estimate for the same quarter suggests a 10.3% rise to $2.68 [2] Group 2: Estimate Revision Trend - Earnings estimates for Resmed's fiscal second-quarter have remained stable over the past 60 days, indicating consistent expectations leading up to the announcement [3] Group 3: Factors Influencing Q2 Results - Strong demand for Resmed's mask portfolio in the U.S., Canada, and Latin America is expected to drive growth, with additional contributions from the VirtuOx acquisition [4] - Recent product innovations in the mask portfolio, such as the AirTouch F30i Comfort and AirTouch F30i Clear, are anticipated to positively impact revenues [5] - The integration of machine learning, AI, and generative AI in digital health products, including the Dawn personal sleep health assistant, may enhance overall revenue [6] - Device sales are likely to benefit from the availability of AirSense 10 and AirSense 11 sleep devices, with a projected 6.3% revenue increase in the Sleep and Breathing Health segment [7] Group 4: Residential Care Software - The Residential Care Software division is crucial for supporting the core Sleep and Breathing Health business, with expected revenue growth of 7.1% in Q2 fiscal 2026 [10] - The company is focusing on high-growth, higher-margin areas while reducing exposure to lower-growth segments [9] Group 5: Earnings ESP and Zacks Rank - Resmed has an Earnings ESP of -0.81%, indicating a lower chance of beating estimates, while holding a Zacks Rank of 2 (Buy) [11]

Core Viewpoint - The market anticipates ResMed (RMD) will report a year-over-year increase in earnings driven by higher revenues for the quarter ending December 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - ResMed is expected to report quarterly earnings of $2.68 per share, reflecting a year-over-year increase of +10.3%, with revenues projected at $1.39 billion, an increase of 8.3% from the previous year [3]. - The earnings report is scheduled for release on January 29, and better-than-expected results could lead to a stock price increase, while disappointing results may cause a decline [2]. Estimate Revisions - The consensus EPS estimate has been revised 0.18% higher in the last 30 days, indicating a slight positive reassessment by analysts [4]. - The Most Accurate Estimate for ResMed is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.81%, suggesting a bearish outlook from analysts [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [10]. - ResMed currently holds a Zacks Rank of 2, but the negative Earnings ESP complicates predictions of an earnings beat [12]. Historical Performance - In the last reported quarter, ResMed exceeded the consensus EPS estimate of $2.49 by delivering earnings of $2.55, resulting in a surprise of +2.41% [13]. - Over the past four quarters, ResMed has consistently beaten consensus EPS estimates [14]. Conclusion - While ResMed does not appear to be a strong candidate for an earnings beat based on current estimates, investors should consider other factors influencing stock performance ahead of the earnings release [17].

Company Overview - ResMed is a 36-year-old company that originated as a spinout from Baxter, with an initial technology investment of approximately AUD 1.2 million (around USD 800,000) [3] - The current market capitalization of ResMed is approximately $37 billion, indicating a significant return on investment [3] Financial Performance - For the trailing 12 months, ResMed reported revenues of $5.3 billion, showcasing strong financial performance [4] - The company has maintained robust gross margins and net operating profit margins exceeding 30%, with non-GAAP margins at 33% and GAAP margins at 35% [4]

Summary of ResMed's Conference Call Company Overview - **Company**: ResMed - **Market Cap**: Approximately $37 billion [2] - **Revenue**: $5.3 billion in the trailing 12 months with gross margins around 59-62% and net operating profit margins above 30% [3][30] - **Business Segments**: - Sleep health and breathing health solutions - Software business contributing 12% of revenue [3][4] - **Geographic Distribution**: 58% of revenue from the US, Canada, and Latin America; strong presence in Europe and Asia [3] Investment Opportunity - **Target Markets**: Large addressable markets including sleep apnea, insomnia, and chronic obstructive pulmonary disease [4][5] - **Megatrends**: - Integration of sleep apnea detection in wearables by Big Tech (e.g., Apple, Samsung) [5][44] - Increased patient flow into healthcare due to new GLP-1 drugs [6][22] - **Innovation and Operating Excellence**: Strong cash flow generation of $1.8 billion in the last 12 months, with a focus on R&D, share buybacks, and acquisitions [6][30] Product Innovations - **New Products**: - AirTouch N30i and AirTouch F30i masks with fabric technology for improved comfort [12][53] - AI-enabled medical devices to enhance patient adherence to therapy [13][15] - **Digital Health Initiatives**: Launch of a digital sleep health concierge named Dawn to assist patients in managing their sleep health [16] Market Dynamics - **Competitive Landscape**: - ResMed maintains a strong lead over competitors in the US and globally, with a focus on innovation and patient adherence [35][36] - A major competitor has returned to the market, but ResMed has continued to grow its market share [37] - **Regulatory Environment**: - CPAP therapy excluded from the latest round of competitive bidding, which is seen as a positive for the industry [38][39] Patient Engagement and Education - **Primary Care Physician Education**: - 60,000 CME courses on sleep apnea have been downloaded, with 77% of physicians indicating they will change their practice protocols [26] - **Patient Adherence**: - Patients on GLP-1 medications show higher adherence rates to CPAP therapy, with a 10.8% higher probability of starting CPAP treatment [23][50] Financial Performance - **Capital Distribution**: Over $3.7 billion distributed in the last three years, with a focus on R&D and shareholder returns [30][31] - **Share Repurchases**: Plans for at least $600 million in share repurchases in fiscal year 2026 [31] Future Outlook - **Growth Projections**: Anticipated high single-digit growth with continued leverage on the P&L [33] - **Manufacturing Expansion**: New facilities in the US to support increased manufacturing capacity, aligning with the "Made in America" initiative [29] Conclusion - ResMed is positioned as a compelling investment opportunity due to its strong market presence, innovative product offerings, and strategic focus on patient engagement and education [34]

Financial Performance & Growth - ResMed's Last Twelve Months (LTM) Q1 2026 revenue reached $5.3 billion[10] - The company's LTM Q1 2026 GAAP operating margin was 33%, and the non-GAAP operating margin was 35%[10] - Free cash flow for LTM Q1 FY26 was approximately $1.8 billion, representing a 31% year-over-year growth[16] - ResMed has a strong balance sheet with a net cash position of $715 million as of Q1 FY26[16] - Revenue grew at a Compound Annual Growth Rate (CAGR) of 12% (GAAP) and 14% (Non-GAAP) from LTM Q1 2021 to LTM Q1 2026[80] - EPS grew at a CAGR of 16% (GAAP) and 14% (Non-GAAP) from LTM Q1 2021 to LTM Q1 2026[80] Market & Strategy - ResMed targets a large and underpenetrated market, including over 1 billion people with sleep apnea and 480 million with COPD[17] - Less than 20% of the Obstructive Sleep Apnea (OSA) market is diagnosed or treated in the U.S., and less than 10% in the rest of the world[18] - ResMed invests 6% - 7% of revenue in Research and Development (R&D)[75] - The company anticipates high single-digit percentage revenue growth with earnings growth exceeding revenue growth, underpinned by its 2030 strategy[83]

Core Viewpoint - Resmed is set to release its financial and operational results for the second quarter of fiscal year 2026 on January 29, 2026, after market close, followed by a management webcast to discuss the results and other relevant information [1]. Company Overview - Resmed is dedicated to creating life-changing health technologies, focusing on innovative solutions that empower individuals in 140 countries to lead healthier lives [2]. - The company utilizes AI-powered digital health solutions, cloud-connected devices, and intelligent software to enhance home healthcare, making it more personalized and effective [2]. - Resmed envisions a future where everyone can achieve their full potential through improved sleep and breathing, with care provided in their own homes [2]. Earnings Webcast Details - The earnings webcast will take place on January 29, 2026, at 1:30 p.m. PST / 4:30 p.m. EST, with international times noted for London and Sydney [3]. - A replay of the webcast will be available on Resmed's investor relations website approximately two hours after the live event, with a phone replay accessible from January 29, 2026, until February 12, 2026 [2].

Core Insights - Resmed Inc. (RMD) is experiencing strong demand for its AirSense 10 and AirSense 11 sleep devices, with promising international market expansion supported by stable solvency [1][9] - The stock has increased by 5.1% over the past year, outperforming the industry which declined by 3.2%, while the S&P 500 rose by 19.5% during the same period [1] Company Performance - Resmed has a market capitalization of $36.23 billion and an earnings yield of 4.4%, which is favorable compared to the industry's flat yield [2] - The company has consistently surpassed earnings estimates in the last four quarters, with an average surprise of 3.04% [2] Growth Opportunities - The company is focusing on expanding into high-growth international markets such as China, South Korea, India, Brazil, and Eastern Europe, aiming to enhance patient quality of life and reduce healthcare costs [3] - In Q1 FY26, combined sales in the U.S., Canada, Latin America, Europe, and Asia increased by 10% [4] - Global device sales rose by 9% in Q1 FY26, with an 8% increase in the U.S., Canada, and Latin America, and an 11% increase in Europe, Asia, and other markets [5][9] - The AirSense 11 platform is being launched in more countries, including India, and a new version for sleep lab environments has been introduced [6] Financial Health - As of September 30, 2025, Resmed had a long-term debt of $408.7 million, significantly lower than its cash and cash equivalents of $1.38 billion, with a total debt-to-capital ratio of 6.3% [7][9] Challenges - Resmed's operations are affected by macroeconomic conditions, geopolitical instability, and supply chain constraints, which may lead to increased costs and impact profitability [10] - SG&A expenses rose by 9.5% year-over-year in the fiscal first quarter [10] Earnings Estimates - The Zacks Consensus Estimate for RMD's fiscal 2026 earnings per share (EPS) has increased by 0.2% to $10.84, with revenue estimates at $5.58 billion, reflecting an 8.4% increase from the previous year [11]

Group 1: Mineral Resources Ltd (MIN) - The share price of Mineral Resources Ltd (ASX:MIN) has increased by 59.2% since the beginning of 2025 [1] - MIN is a diversified mining company focused on lithium and iron ore extraction in Western Australia [1] - MIN also provides mining and engineering services through its subsidiary, CSI Mining Services, which operates across multiple Australian states [2] - The company differentiates itself from competitors through its in-house engineering and construction capabilities, allowing for greater control in product development [2] Group 2: ResMed (RMD) - ResMed, founded in 1989, specializes in medical equipment, particularly cloud-connectable CPAP machines for treating obstructive sleep apnea [3] - The company operates in over 140 countries and has two main business units: Sleep and Respiratory Care, and Software as a Service (SaaS) [4] - ResMed's digital health network leverages cloud-connected devices to improve patient outcomes and reduce healthcare costs [5] Group 3: Financial Performance - MIN's revenue has grown at a rate of 12.2% per year since 2021, reaching $5,278 million in FY24, but net profit has decreased from $1,270 million to $125 million, with a reported ROE of 3.2% [7] - In contrast, RMD has seen a revenue growth rate of 13.6% per year, reaching $4,685 million in FY24, with net profit increasing from $475 million to $1,021 million and a reported ROE of 22.7% [7]

Company Overview - ResMed is a medical equipment company based in San Diego, California, originally founded in Australia, specializing in cloud-connectable CPAP machines for obstructive sleep apnea treatment [2] - The company operates globally with over 10,000 employees and a presence in more than 140 countries, divided into two main business units: Sleep and Respiratory Care, and Software as a Service (SaaS) [3] - ResMed's products include industry-leading CPAP machines and software for durable medical equipment, focusing on out-of-hospital care [3][4] Market Performance - The ASX:RMD share price has decreased by 2.0% since the start of 2025 [1] - The S&P/ASX200 Healthcare Index has returned -4.53% per year over the last 5 years, contrasting with a 5.51% annual return from the broader ASX 200 [5] Revenue Stability - Healthcare spending is considered essential, leading to stable and consistent revenue streams, often referred to as 'sticky' revenue, which remains resilient during economic downturns [6] - Historical performance indicates that healthcare was the best-performing sector during the Global Financial Crisis (GFC) [6] Growth Potential - Global healthcare spending, particularly in the US, is projected to grow significantly, with estimates of 7% annual growth from 2022 to 2027, reaching US$819 billion [7] - Sub-sectors such as healthcare IT and SaaS are expected to see revenue growth exceeding 15% per year from 2024 to 2030, attracting investor interest [8] Ethical Investment Trends - A Morgan Stanley survey indicates that over half of investors plan to increase their allocation to sustainable investments in 2024, positioning healthcare sectors favorably for attracting new capital [9] Valuation Insights - ResMed shares currently have a price-to-sales ratio of 5.08x, below the 5-year average of 8.70x, suggesting that shares may be undervalued or that sales have increased [11]