Compared to Estimates, Globus Medical (GMED) Q4 Earnings: A Look at Key Metrics
Globus Medical (GMED) reported $616.53 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 124.6%. EPS of $0.60 for the same period compares to $0.59 a year ago.
The reported revenue represents a surprise of +0.74% over the Zacks Consensus Estimate of $612.03 million. With the consensus EPS estimate being $0.59, the EPS surprise was +1.69%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Globus Medical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenues- International: $125.69 million versus the three-analyst average estimate of $96.17 million. The reported number represents a year-over-year change of +204.6%.
Geographic Revenues- United States: $490.84 million versus the three-analyst average estimate of $400.48 million. The reported number represents a year-over-year change of +110.5%.
Net Sales by Product Category- Enabling Technologies: $32.71 million versus the four-analyst average estimate of $39.42 million. The reported number represents a year-over-year change of +10.9%.
Net Sales by Product Category- Musculoskeletal Solutions: $583.82 million compared to the $484.58 million average estimate based on four analysts. The reported number represents a change of +138.3% year over year.
View all Key Company Metrics for Globus Medical here>>>
Shares of Globus Medical have returned -3.9% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Globus Medical, Inc. (GMED) : Free Stock Analysis Report
