Globus Medical Q3 2020 Earnings Report
Key Takeaways
Globus Medical reported a strong third quarter with a 10.1% increase in worldwide net sales to $216.1 million and GAAP net income rising by 15.4% to $44.2 million. Diluted EPS was $0.44, and non-GAAP diluted EPS was $0.49. The U.S. Spine business grew by 17%, offsetting a decline in Enabling Technologies revenue. The company generated $53.2 million in net cash from operating activities and $35.9 million in non-GAAP free cash flow.
Worldwide net sales increased by 10.1% to $216.1 million compared to Q3 2019.
GAAP net income rose by 15.4% to $44.2 million compared to Q3 2019.
Diluted EPS was $0.44, with non-GAAP diluted EPS at $0.49.
Non-GAAP adjusted EBITDA was 34.8% of net sales.
Globus Medical
Globus Medical
Globus Medical Revenue by Segment
Globus Medical Revenue by Geographic Location
Forward Guidance
Globus Medical withdrew full year 2020 guidance due to the continued uncertainties resulting from the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income