ResMed Q3 2020 Earnings Report
Key Takeaways
ResMed Inc. reported a 16% increase in revenue to $769.5 million for the third quarter of fiscal year 2020. Non-GAAP operating profit increased by 31%. The company is focused on combating the COVID-19 pandemic through increased ventilator production.
Revenue increased by 16% to $769.5 million, or 17% on a constant currency basis.
GAAP gross margin was 58.4%, while non-GAAP gross margin expanded 70 bps to 60.0%.
Net operating profit increased by 39%, and non-GAAP operating profit rose by 31%.
GAAP diluted earnings per share were $1.12, and non-GAAP diluted earnings per share reached $1.29.
ResMed
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ResMed Revenue by Segment
ResMed Revenue by Geographic Location
Forward Guidance
ResMed is confident in its ability to navigate the challenging environment and deliver for all stakeholders, with a strong foundation to accelerate the adoption of digital health solutions.
Positive Outlook
- Operational resilience
- Strong balance sheet
- Business continuity plans
- Growth prospects
- Ability to serve customers and weather the crisis
Challenges Ahead
- Challenging clinical environment
- Challenging economic environment
- Vigilance required in near term
- Thoughtful approach needed for business outlook
- Global COVID-19 pandemic