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Jun 28, 2024
Enovis Q2 2024 Earnings Report
Reported strong sales growth and margin expansion.
Key Takeaways
Enovis reported a strong second quarter with a 23% increase in sales and adjusted margin expansion. The company reported a net loss of $0.34 per share, but adjusted net income per diluted share was $0.62. Enovis is on track to accelerate growth and profitability into 2025.
Second-quarter sales grew by 23% on a reported basis and 5% on a comparable sales basis.
Net loss from continuing operations was $0.34 per share, while adjusted earnings per diluted share was $0.62.
FDA 510k clearance received for Arvis 2.0 Shoulder and Altivate Reverse Glenoid system, with launches expected in Q3 2024.
Adjusted EBITDA margin improved 190 basis points year over year, driven by the addition of Lima, product and geographic mix, new product introductions, and execution on key EGX initiatives
Enovis
Enovis
Enovis Revenue by Segment
Revenue by Segment
Prevention and Recovery Revenue
CapyFin.comReconstructive Revenue
CapyFin.com Forward Guidance
Enovis narrowed its revenue range and reaffirmed adjusted EBITDA expectations for 2024. Full-year revenue is estimated at $2.08-$2.13 billion, and adjusted EBITDA is forecasted to be $368-$383 million. The Company also raised its full-year adjusted earnings per diluted share guidance from $2.52-$2.67 to $2.62-$2.77.
Positive Outlook
- Full-year revenue is estimated at $2.08-$2.13 billion.
- Adjusted EBITDA is forecasted to be $368-$383 million.
- Adjusted earnings per diluted share guidance raised from $2.52-$2.67 to $2.62-$2.77.
Revenue & Expenses
Visualization of income flow from segment revenue to net income