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Dec 31, 2022
Conmed Q4 2022 Earnings Report
CONMED's Q4 2022 sales were significantly impacted by the implementation of new warehouse management software, resulting in an 8.4% year-over-year decrease in sales as reported.
Key Takeaways
CONMED Corporation's Q4 2022 sales were negatively impacted by the implementation of new warehouse management software. Sales decreased by 8.4% year-over-year as reported, and 7.0% in constant currency. Diluted net earnings per share (GAAP) increased by 14.7%, while adjusted diluted net earnings per share decreased by 60.7%.
Fourth quarter sales were significantly impacted by the implementation of new warehouse management software.
Sales decreased 8.4% year over year as reported and 7.0% in constant currency, with acquisitions contributing approximately 460 basis points of growth.
Domestic revenue decreased 3.9% year over year.
Diluted net earnings per share (GAAP) increased 14.7%, while adjusted diluted net earnings per share decreased 60.7%.
Forward Guidance
The Company expects full-year 2023 reported revenue between $1.170 billion and $1.220 billion, which includes expected headwind from foreign exchange between 150 and 200 basis points. Adjusted diluted net earnings per share is expected to be in the range of $3.20 to $3.45, which includes expected headwind from foreign exchange between $0.20 and $0.25.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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