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Mar 31, 2022
Conmed Q1 2022 Earnings Report
CONMED's first quarter results for 2022 were announced, featuring revenue growth and increased earnings per share.
Key Takeaways
CONMED Corporation reported a 4.1% year-over-year increase in sales, reaching $242.3 million in Q1 2022. Diluted net earnings per share (GAAP) increased by 51.6% to $0.47, and adjusted diluted net earnings per share increased by 11.1% to $0.70.
Sales increased by 4.1% year over year, totaling $242.3 million.
Domestic revenue increased by 5.9% year over year.
Diluted net earnings per share (GAAP) increased by 51.6% to $0.47.
Adjusted diluted net earnings per share increased by 11.1% to $0.70.
Conmed
Conmed
Conmed Revenue by Segment
Revenue by Segment
Orthopedic Surgery Revenue
CapyFin.comGeneral Surgery Revenue
CapyFin.com Forward Guidance
The Company is raising its revenue guidance for the full year 2022 and now expects revenue between $1.105 billion and $1.150 billion. The Company now expects full-year 2022 adjusted diluted net earnings per share in the range of $3.50 to $3.65.
Positive Outlook
- Revenue guidance raised for full year 2022 to $1.105 billion - $1.150 billion.
- Foreign exchange expected to be immaterial to full-year 2022 revenue growth.
- Includes approximately $20 million in revenue in the back half of 2022 related to the acquisition of In2Bones Global, Inc.
- Acquisition is subject to customary closing conditions, including receipt of U.S. regulatory approval.
- Full-year 2022 adjusted diluted net earnings per share in the range of $3.50 to $3.65.
Challenges Ahead
- New guidance range includes the impact of increased inflation.
- Dilution of $0.05 to $0.10 related to the acquisition.
- Facing larger than anticipated inflationary pressures.
- Uncertainties as to the timing for completion of the acquisition.
- The possibility that various conditions to complete the acquisition may not be satisfied or waived.
Revenue & Expenses
Visualization of income flow from segment revenue to net income