Loading...
•
Oct 02, 2020
Enovis Q3 2020 Earnings Report
Colfax's Q3 2020 results were reported, demonstrating improved sales momentum and solid profit and cash flow performance.
Key Takeaways
Colfax reported net sales of $806 million and net income from continuing operations of $16.0 million, or $0.12 per share. Adjusted EPS was $0.41. The Medical Technology segment achieved 2% reported growth, and the company signed an agreement to acquire extremity product lines with annual revenue of $20 million.
Reported EPS from continuing operations was $0.12, and adjusted EPS reached $0.41.
Medical Technology segment achieved 2% reported growth and 1% organic growth.
Fabrication Technology segment's 21% decremental margin contributed to solid company profit and cash flow performance.
A definitive agreement was signed to acquire extremity product lines with annual revenue of $20 million.
Enovis
Enovis
Forward Guidance
The Company expects continued sequential improvement in the fourth quarter of 2020, with adjusted earnings from continuing operations of $0.45 to $0.50 per diluted share.