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Jun 30, 2022
Orthofix Q2 2022 Earnings Report
Orthofix's second quarter results reflected double-digit growth in global orthopedics and progress in innovation initiatives, offset by macro headwinds and currency fluctuations.
Key Takeaways
Orthofix reported Q2 2022 net sales of $118.1 million, a decrease of 3% on a reported basis but flat on a constant currency basis. GAAP EPS was $0.12, and adjusted EPS was $0.08. The company is maintaining full-year revenue guidance of $455 to $465 million.
Net sales decreased by 3% on a reported basis but were flat on a constant currency basis compared to the prior year.
Global Orthopedics net sales grew by 11% on a constant currency basis, driven by new products and channel investments.
GAAP EPS was $0.12, and adjusted EPS was $0.08.
The company executed a partnership with CGBio to commercialize Novosis™ rhBMP-2 growth factor in the U.S. and Canada.
Revenue by Segment
Forward Guidance
The Company expects full year net sales to be in the range of $455 to $465 million, representing flat to 2% growth on a constant currency basis. Full year adjusted EBITDA is expected to be $53 to $57 million, and adjusted EPS is expected to be $0.45 to $0.55.
Positive Outlook
- Full year net sales growth rates – constant currency 0% - 2%
- Full year adjusted EBITDA $53 - $57
- Full year adjusted EBITDA as percentage of net sales 12%
- Full year adjusted EPS $0.45-$0.55
Challenges Ahead
- Full year net sales $455 - $465
- Full year net sales growth rates – reported (2%) - 0%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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