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Mar 31, 2023
Conmed Q1 2023 Earnings Report
Reported strong first-quarter results, driven by focused execution and customer service.
Key Takeaways
CONMED Corporation announced strong first-quarter results for 2023, leading to an increased full-year revenue and adjusted diluted net earnings per share outlook. The company is raising its revenue guidance for the full year 2023 and now expects revenue between $1.205 billion and $1.250 billion, compared to its prior guidance of between $1.170 billion and $1.220 billion. The Company now expects full-year 2023 adjusted diluted net earnings per share in the range of $3.30 to $3.50, compared to its prior range of $3.20 to $3.45.
Excellent first quarter results driven by team focus and customer service.
Strong start to the year with increased outlook.
Revenue guidance raised for full year 2023 to $1.205 billion - $1.250 billion.
Adjusted diluted net earnings per share expected to be $3.30 - $3.50 for full year 2023.
Conmed
Conmed
Forward Guidance
Based on the first quarter results, the Company is raising its revenue guidance for the full year 2023 and now expects revenue between $1.205 billion and $1.250 billion, compared to its prior guidance of between $1.170 billion and $1.220 billion. The Company now expects full-year 2023 adjusted diluted net earnings per share in the range of $3.30 to $3.50, compared to its prior range of $3.20 to $3.45.
Positive Outlook
- Revenue between $1.205 billion and $1.250 billion
- Adjusted diluted net earnings per share in the range of $3.30 to $3.50
Challenges Ahead
- Expected headwind from foreign exchange of between 150 and 200 basis points on revenue.
- Expected headwind from foreign exchange of between $0.20 and $0.25 on adjusted diluted net earnings per share.