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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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