ConMed Q3 sales beat The Street

ConMed (NSDQ:CNMD) today posted third quarter earnings that met EPS expectations on Wall Street and topped sales consensus. The Utica, N.Y.-based company posted profits of $5.8 million, or 20¢ per share, on sales of $202.3 million for the three months ended September 30, seeing profits shrink 19.1% while sales grew 6.4% compared with the same period during the previous year. Adjusted to exclude one-time items, earnings per share were 46¢, just in line with the consensus on The Street, where analysts were looking for sales of $198.5 million. “We are pleased with our strong global performance in the third quarter, which reflects continued execution against our strategic plans. We believe we are well-positioned to continue to deliver above-market revenue growth and attractive returns to our shareholders,” prez & CEO Curt Hartman said in a press release. Conmed adjusted its full year guidance, now expecting to see adjusted sales growth of between 6.5% and 7%, compared to previous guidance of between 6% and 7%. The company said it still expects to post adjusted diluted earnings per share of between $2.15 and $2.20. Shares in ConMed rose 4.8% today, closing at $6.40. In August, ConMed  posted second quarter earnings that beat Wall Street expectations and lifted its sales growth guidance for the remaining year. The post ConMed Q3 sales beat The Street appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat ConMed Corp. Source Type: news