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Dec 31, 2023
Enovis Q4 2023 Earnings Report
Enovis experienced strong momentum with sales growth and reported net income and adjusted earnings per share for Q4 2023.
Key Takeaways
Enovis reported an 11% increase in fourth-quarter net sales, reaching $455 million, with 8% organic growth. Net income from continuing operations was $3 million, or $0.05 per share, and adjusted earnings per diluted share were $0.79. The company's full-year net sales grew 9% to $1.7 billion, with an adjusted EBITDA margin increase.
Fourth-quarter sales grew by 11%, with organic growth of 8%.
Net income from continuing operations was $0.05 per share, with adjusted earnings per diluted share of $0.79.
Recon sales grew by 18%, with 11% organic sales growth.
P&R sales grew by 8%, with 6% organic sales growth.
Enovis
Enovis
Forward Guidance
Enovis expects revenue to approximate $2.05-2.15 billion, including $290-300 million from the Lima acquisition. Adjusted EBITDA is forecasted to be $365-$380 million, inclusive of $70-75 million from Lima. Full-year adjusted earnings per diluted share are expected to be in the range of $2.50-$2.65.
Positive Outlook
- Revenue is expected to approximate $2.05-2.15 billion.
- Includes $290-300 million of revenue related to the Lima acquisition.
- Adjusted EBITDA is forecasted to be $365-$380 million.
- Includes $70-75 million from Lima.
- Full-year adjusted earnings per diluted share are expected to be in the range of $2.50-$2.65.