CONMED (US:CNMD)2023-04-27 03:06Financial Performance & Guidance - CONMED increased full-year adjusted cash EPS guidance to $3.30 - $3.50, including a $0.20 - $0.25 FX headwind[5] - The company increased full-year revenue guidance to $1.205 billion - $1.250 billion, which includes currency headwinds estimated between 150 to 200 basis points[17] - Q1 2023 worldwide revenue was $295.5 million[13], representing a 21.9% year-over-year increase as reported and a 25.1% increase in constant currency, with recent acquisitions contributing 570 basis points to revenue growth[15] - Q1 2023 GAAP EPS was $0.06, compared to $0.47 in the prior year period[15], while adjusted EPS was $0.66, a 5.7% decrease from the prior year period[15] Revenue Breakdown - Domestic revenue accounted for $164.6 million, while international revenue was $130.9 million, representing 56% and 44% of total revenue, respectively[14] - Single-use products generated $249.3 million in revenue, while capital products contributed $46.2 million[52], with single-use products accounting for 84% of the total[52] - Orthopedic Surgery revenue was $131.2 million, and General Surgery revenue was $164.3 million[13] Strategic Initiatives & Market Focus - The company is focused on increasing market share in large and attractive markets[32] - CONMED is evolving its product mix toward higher-growth, higher-margin offerings[48] - CONMED implemented a Warehouse Management Software System (WMS) in Q4 2022, which caused shipping delays but is expected to increase capacity and efficiency[18]