Globus Medical Reports Q1 Miss, In-Line Guidance


Globus Medical, Inc. (NYSE:GMED) reported its Q1 results, with EPS of $0.42 coming in worse than the consensus estimate of $0.47. Revenue was $230.5 million, compared to the consensus estimate of $234.17 million.
The EPS miss was driven by lower sales and weaker-than-expected margins. The company saw softness in Q1 mostly due to capital, but the pipeline has strengthened throughout Q2. The company posted its highest monthly U.S. spine sales in March and highest average daily sales in April.
The company reaffirmed its 2022 guidance as it builds out its product portfolio (NPIs in spine, trauma, imaging), drives robotic pull-through and continues record rep recruitment. For the full 2022-year, the company expects EPS of $2.10, compared to the consensus of $2.10, and revenue of $1.03 billion, compared to the consensus of $1.03 billion.


Follow us on Google news for more updates and News










Full Disclaimer








>

FREE

Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.