CONMED Third Quarter 2024 Earnings: EPS Beats Expectations

CONMED (NYSE:CNMD) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$316.7m (up 4.0% from 3Q 2023).
• Net income: US$49.0m (up 209% from 3Q 2023).
• Profit margin: 16% (up from 5.2% in 3Q 2023).
• EPS: US$1.59 (up from US$0.52 in 3Q 2023).

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

CONMED EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 68%.

Looking ahead, revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Medical Equipment industry in the US.

Performance of the American Medical Equipment industry.

The company's shares are up 9.8% from a week ago.

Valuation

Our analysis of these results suggests CONMED may be undervalued based on 6 important criteria we look at. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.

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