Here's What Key Metrics Tell Us About Globus Medical (GMED) Q2 Earnings
Globus Medical (GMED) reported $291.62 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 10.6%. EPS of $0.63 for the same period compares to $0.56 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $282.1 million, representing a surprise of +3.37%. The company delivered an EPS surprise of +5.00%, with the consensus EPS estimate being $0.60.
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.
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 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: $46.13 million versus $40.82 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +20.2% change.
Geographic Revenues- United States: $245.49 million versus $240.99 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +9% change.
Net Sales by Product Category- Enabling Technologies: $34.76 million versus $26.48 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +18.2% change.
Net Sales by Product Category- Musculoskeletal Solutions: $256.86 million versus the five-analyst average estimate of $253.27 million. The reported number represents a year-over-year change of +9.7%.
View all Key Company Metrics for Globus Medical here>>>
Shares of Globus Medical have returned +3.7% over the past month versus the Zacks S&P 500 composite's +1.5% 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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