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Jul 03, 2020
Enovis Q2 2020 Earnings Report
Colfax reported mixed Q2 2020 results amid COVID-19 impacts, including positive cash flow and adjusted EPS of $0.09.
Key Takeaways
Colfax Corporation reported a net loss of $3.6 million, or $(0.03) per share. Adjusted EPS was $0.09, compared to $0.54 in the second quarter of 2019. Net sales were $620 million, a 32% decrease compared to the previous year. The company generated $37 million in operating cash flow and $18 million in free cash flow.
Achieved objectives to address COVID-19 impacts, including generating positive cash flow.
Reported $(0.03) EPS from continuing operations and achieved $0.09 of adjusted EPS.
Sequentially improved sales rates each month during the quarter.
Continued investments in innovation support long-term growth plans.
Enovis
Enovis
Forward Guidance
Colfax is not providing financial guidance for 2020 due to uncertainties in customer demand caused by the COVID-19 pandemic.