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Sep 30, 2022
Orthofix Q3 2022 Earnings Report
Reported a slight increase in net sales and a GAAP EPS loss, but adjusted EPS was positive.
Key Takeaways
Orthofix reported a 1% increase in net sales to $114.0 million, with a GAAP EPS of ($0.53) and an adjusted EPS of $0.13. The company saw growth in Global Orthopedics, Biologics, and Bone Growth Therapies, driven by new product innovation and commercial channel execution.
Net sales increased by 1% on a reported basis and 5% on a constant currency basis.
Global Orthopedics net sales grew by 19% on a constant currency basis.
GAAP EPS was ($0.53) and adjusted EPS was $0.13.
Agreement to merge with SeaSpine was announced.
Orthofix
Orthofix
Orthofix Revenue by Segment
Revenue by Segment
Bone Growth Therapies Revenue
CapyFin.comSpinal Implants, Biologics and Enabling Technologies Revenue
CapyFin.comGlobal Spine Revenue
CapyFin.comGlobal Orthopedics Revenue
CapyFin.com Forward Guidance
The Company expects the following net sales results for the year ended December 31, 2022. These expectations are based on the current foreign currency exchange rates and do not include any additional exchange rate changes that may occur this year.
Positive Outlook
- Full year net sales are expected to be in the range of $457 million to $463 million.
- Full year net sales growth rates – reported are expected to be between (2%) - 0%.
- Full year net sales growth rates – constant currency are expected to be between 1% - 2%.
- Full year adjusted EBITDA is expected to be between $52 million to $54 million.
- Full year adjusted EPS is expected to be between $0.40 to $0.50.
Revenue & Expenses
Visualization of income flow from segment revenue to net income