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Jul 02, 2021
Enovis Q2 2021 Earnings Report
Colfax's Q2 2021 earnings were announced, with increased full-year outlook and a strategic acquisition.
Key Takeaways
Colfax Corporation reported a strong second quarter in 2021, with a significant increase in net sales and adjusted EPS. The company's performance led to an increased full-year outlook and strategic acquisition of Mathys Bettlach AG.
Reported $0.19 EPS from continuing operations and $0.56 of adjusted EPS.
Raised FY 2021 adjusted EPS guidance range to $2.10-$2.20.
Signed agreement to acquire Mathys Bettlach AG to expand MedTech Reconstructive business outside of North America.
Made significant progress on separation into two independent public companies, targeting Q1 2022 completion.
Enovis
Enovis
Forward Guidance
Colfax raised its 2021 adjusted EPS outlook from $2.05-$2.15 to $2.10-$2.20 and its free cash flow outlook from $250 million or more to $275 million or more. For the third quarter of 2021, Colfax expects adjusted earnings of $0.50 to $0.55 per diluted share.
Positive Outlook
- Businesses continue to benefit from strengthening market demand and operating execution
- ESAB business achieved strong growth and its highest-ever margins while successfully addressing raw material inflation
- MedTech business continues to outperform peers in a market backdrop of improving demand
- Reconstructive business saw 10% organic sales-per-day growth over 2019 levels
- Acquisition announcement of Mathys to expand fast-growing MedTech Reconstructive business