Loading...
•
Mar 31, 2024
Orthofix Q1 2024 Earnings Report
Orthofix reported first quarter results with increased net sales and improved EPS.
Key Takeaways
Orthofix reported a 7.7% increase in net sales to $188.6 million. Net loss was $36 million, with an EPS of $(0.95). Non-GAAP adjusted EBITDA was $7.7 million, representing a 220 basis point expansion over the prior year period. The company raised the midpoint of its full-year net sales guidance, narrowing the range to $790.0-$795.0 million.
Net sales increased by 7.7% to $188.6 million.
Bone Growth Therapies net sales grew by 10%.
U.S. Spine Fixation net sales increased by 16%.
Net loss was $36 million, with an EPS of $(0.95).
Revenue by Segment
Forward Guidance
Orthofix expects net sales to range between $790 million to $795 million and reiterates previous guidance for non-GAAP adjusted EBITDA ranging from $62 million to $67 million. The company expects to be free cash flow positive for Q4 2024.
Positive Outlook
- Net sales to range between $790 million to $795 million, representing implied growth of 6% to 7% year-over-year on a constant currency basis
- Midpoint of full year 2024 net sales guidance raised
- Range narrowed to $790.0-$795.0 million
- Reiterating previous guidance for non-GAAP adjusted EBITDA ranging from $62 million to $67 million
- Expect to be free cash flow positive for Q4 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...