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Sep 30, 2023
Masimo Q3 2023 Earnings Report
Reported financial results for the third quarter of 2023.
Key Takeaways
Masimo's consolidated revenue for Q3 2023 was $478.9 million, with healthcare revenue at $307.8 million and non-healthcare revenue at $171.1 million. The company's GAAP net income per diluted share was $0.20, while the non-GAAP net income per diluted share was $0.63. The performance was within the company's guidance range, with the healthcare business undergoing a transition away from COVID-era conditions.
Consolidated revenue reached $478.9 million.
Healthcare revenue amounted to $307.8 million.
Non-healthcare revenue totaled $171.1 million.
GAAP net income per diluted share was $0.20.
Forward Guidance
Masimo provided updated estimates for its fourth-quarter 2023 and full-year financial guidance.
Positive Outlook
- Consolidated revenue is expected to be between $526 million and $576 million.
- Healthcare revenue is projected to be in the range of $320 million to $345 million.
- Non-healthcare revenue is anticipated to be between $206 million and $231 million.
- Consolidated operating income is forecasted to be between $45 million and $59 million.
- Consolidated net income per diluted share is expected to be between $0.45 and $0.65.
Challenges Ahead
- The healthcare segment's fourth-quarter revenue guidance includes year-over-year foreign currency tailwinds of $1 million.
- The non-healthcare segment's fourth-quarter revenue guidance includes year-over-year foreign currency tailwinds of $3 million.
- Full-year 2023 revenue guidance includes year-over-year foreign currency headwinds of $6 million for healthcare.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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