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Jun 30, 2022
Conmed Q2 2022 Earnings Report
CONMED's second quarter results for 2022 were announced, revealing an increase in sales but a net loss per share.
Key Takeaways
CONMED Corporation reported an 8.6% year-over-year increase in sales, reaching $277.2 million for the second quarter of 2022. However, the company experienced a diluted net loss per share of $5.65, compared to a net earnings per share of $0.41 in the same quarter of the previous year. Adjusted diluted net earnings per share were $0.76, a 7.0% increase year over year. The company has lowered its full-year revenue guidance due to changes in foreign exchange rates.
Sales increased by 8.6% year over year to $277.2 million, or 9.8% in constant currency.
Domestic revenue increased 3.9% year over year.
International revenue increased 14.7% year over year as reported and 17.2% in constant currency.
Adjusted diluted net earnings per share were $0.76, an increase of 7.0% over the second quarter of 2021.
Conmed
Conmed
Conmed Revenue by Segment
Revenue by Segment
Orthopedic Surgery Revenue
CapyFin.comGeneral Surgery Revenue
CapyFin.com Forward Guidance
Due to changes in foreign exchange rates, the Company is lowering its revenue guidance for the full year 2022 and now expects revenue between $1.095 billion and $1.140 billion. The Company now expects full-year 2022 adjusted diluted net earnings per share in the range of $3.40 to $3.55, down from the prior range of $3.50 to $3.65 to account for a $0.10 currency headwind.
Challenges Ahead
- Revenue guidance for the full year 2022 is lowered to between $1.095 billion and $1.140 billion.
- Foreign exchange is expected to have a 100 to 150 bps negative impact on full-year 2022 revenue growth.
- Full-year 2022 adjusted diluted net earnings per share are expected to be in the range of $3.40 to $3.55.
- The adjusted diluted net earnings per share guidance was lowered to account for a $0.10 currency headwind.
- Changes in foreign exchange rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income