NuVasive shares rise on Q4, 2018 EPS beat

Shares in NuVasive Inc. (NSDQ:NUVA) have risen slightly today after the medical device maker beat earnings per share expectations on Wall Street with its fourth quarter and full year 2018 earnings report. The San Diego-based company posted profits of approximately $12.2 million, or 23¢ per share, on sales of $288.3 million for the three months ended December 31, seeing profits shrink 48.2% while sales grew 6.3% compared with the same period during the previous year. After adjusting to exclude one-time items, earnings per share were 69¢, just ahead of the 63¢ consensus on Wall Street where analysts expected to see sales of approximately $291 million, which the company missed. For the full year, NuVasive reported profits of approximately $12.5 million, or 24¢ per share, on sales of approximately $1.1 billion, seeing profits shrink 84.4% while sales grew 7.3% compared with the same period during the previous year. Adjusted to exclude one-time items, earnings per share were $2.23, just ahead of the $2.13 consensus on Wall Street where analysts expected the company to post sales of $1.1 billion, which it met. “NuVasive delivered strong year-over-year revenue growth of more than 7% in 2018, demonstrating the company’s ability to take share in a stable but relatively flat U.S. spine market. Additionally, we made significant progress at our West Carrollton manufacturing facility, exiting the year at 70% SKU rationalization. Collectively, these achievements serve to adva...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Featured MassDevice Earnings Roundup Wall Street Beat Nuvasive Source Type: news