Conmed (CNMD) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Conmed (CNMD) reported revenue of $317.65 million, up 14.6% over the same period last year. EPS came in at $0.83, compared to $0.76 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $305.92 million, representing a surprise of +3.84%. The company delivered an EPS surprise of +5.06%, with the consensus EPS estimate being $0.79.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Conmed performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- Domestic: $174.70 million compared to the $171.49 million average estimate based on two analysts.
Geographic Revenue- International: $143 million versus the two-analyst average estimate of $135.04 million.
Net Sales- Orthopedic Surgery: $140.80 million versus $131.10 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +17.1% change.
Net Sales- General Surgery: $176.90 million compared to the $172.58 million average estimate based on five analysts. The reported number represents a change of +12.7% year over year.
Net Sales- Single-use Products: $264.80 million versus the two-analyst average estimate of $254.62 million. The reported number represents a year-over-year change of +15%.
Net Sales- Capital Products: $52.90 million versus $51.91 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12.8% change.
View all Key Company Metrics for Conmed here>>>
Shares of Conmed have returned -9.8% over the past month versus the Zacks S&P 500 composite's +5.1% 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.
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