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Jun 30, 2023
Orthofix Q2 2023 Earnings Report
Reported a revenue increase of 58% and a pro forma constant currency increase of 7%.
Key Takeaways
Orthofix reported net sales of $187.0 million, EPS of $(1.07), and adjusted EPS of $0.02 for the second quarter of 2023. The company experienced growth in Bone Growth Therapies and U.S. spinal implants, biologics, and enabling technologies sales.
Net sales increased by 58% on a reported basis and 7% on a pro forma constant currency basis.
Bone Growth Therapies grew by 10%, marking two consecutive quarters with double-digit net sales increases.
U.S. spinal implants, biologics, and enabling technologies sales increased by 7% on a pro forma basis.
Global Orthopedics net sales increased by 6% on a reported basis and 5% on a constant currency basis.
Orthofix
Orthofix
Orthofix Revenue by Segment
Revenue by Segment
Bone Growth Therapies Revenue
CapyFin.comGlobal Spine Revenue
CapyFin.comGlobal Orthopedics Revenue
CapyFin.com Forward Guidance
The Company expects net sales between $752 million and $758 million and adjusted EBITDA between $42 million and $46 million for the year ended December 31, 2023.
Positive Outlook
- Net sales are expected to increase by 63.2% to 64.3% on a reported basis.
- Net sales are expected to increase by 7.3% to 8.2% on a pro forma basis.
- Adjusted EBITDA is expected to be between $42 million and $46 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income