Globus Medical Third Quarter 2024 Earnings: Beats Expectations

Globus Medical (NYSE:GMED) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$625.7m (up 63% from 3Q 2023).
• Net income: US$51.8m (up by US$50.8m from 3Q 2023).
• Profit margin: 8.3% (up from 0.3% in 3Q 2023).
• EPS: US$0.38 (up from US$0.009 in 3Q 2023).

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

Globus Medical Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 21%.

Looking ahead, revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Medical Equipment industry in the US.

Performance of the American Medical Equipment industry.

The company's shares are up 12% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Globus Medical you should know about.

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