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Mar 31, 2020
Globus Medical Q1 2020 Earnings Report
Globus Medical's Q1 2020 financial results were announced, revealing a sales increase and resilience amidst the COVID-19 pandemic.
Key Takeaways
Globus Medical reported a 4.2% increase in worldwide sales, reaching $190.6 million in Q1 2020. Despite the COVID-19 pandemic's estimated $20 million negative impact on sales, the company maintained profitability with a net income of $25.9 million and a non-GAAP adjusted EBITDA of 26.5% of sales. The company launched three new spine products during the quarter and ended the quarter with $657 million in cash, cash equivalents and marketable securities.
Worldwide sales increased by 4.2% to $190.6 million.
Net income for the first quarter was $25.9 million.
Diluted EPS was $0.25, and non-GAAP diluted EPS was $0.29.
Non-GAAP adjusted EBITDA was 26.5% of sales.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Globus Medical withdrew its full year 2020 guidance due to the uncertainties related to the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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