CONMED First Quarter 2024 Earnings: Beats Expectations

CONMED (NYSE:CNMD) First Quarter 2024 Results

Key Financial Results

• Revenue: US$312.3m (up 5.7% from 1Q 2023).
• Net income: US$19.7m (up by US$17.9m from 1Q 2023).
• Profit margin: 6.3% (up from 0.6% in 1Q 2023).
• EPS: US$0.64 (up from US$0.06 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

CONMED Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 22%.

Looking ahead, revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Medical Equipment industry in the US.

Performance of the American Medical Equipment industry.

The company's shares are down 13% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for CONMED that you need to take into consideration.

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