Conmed (CNMD) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Conmed (CNMD) reported revenue of $304.58 million, up 10.7% over the same period last year. EPS came in at $0.90, compared to $0.77 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $301.22 million, representing a surprise of +1.12%. The company delivered an EPS surprise of +8.43%, with the consensus EPS estimate being $0.83.
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.
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 Conmed performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- Domestic: $170.50 million versus the three-analyst average estimate of $166.89 million.
Geographic Revenue- International: $134.10 million versus the three-analyst average estimate of $134.95 million.
Net Sales- Orthopedic Surgery: $124.70 million versus the four-analyst average estimate of $123.44 million. The reported number represents a year-over-year change of +5.1%.
Net Sales- General Surgery: $179.90 million versus the four-analyst average estimate of $174.45 million. The reported number represents a year-over-year change of +15%.
Net Sales- Single-use Products: $253.30 million versus the three-analyst average estimate of $247.82 million. The reported number represents a year-over-year change of +9.5%.
Net Sales- Capital Products: $51.30 million compared to the $54.02 million average estimate based on three analysts. The reported number represents a change of +17.1% year over year.
View all Key Company Metrics for Conmed here>>>
Shares of Conmed have returned -5% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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CONMED Corporation (CNMD) : Free Stock Analysis Report
