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Globus Medical (GMED) Reports Q3 Earnings: What Key Metrics Have to Say
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Globus Medical (GMED - Free Report) reported $383.64 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 51%. EPS of $0.57 for the same period compares to $0.50 a year ago.
The reported revenue represents a surprise of +42.39% over the Zacks Consensus Estimate of $269.43 million. With the consensus EPS estimate being $0.54, the EPS surprise was +5.56%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Globus Medical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenues- International: $74.24 million compared to the $40.25 million average estimate based on three analysts. The reported number represents a change of +100% year over year.
Geographic Revenues- United States: $309.32 million compared to the $229.37 million average estimate based on three analysts. The reported number represents a change of +42.5% year over year.
Net Sales by Product Category- Enabling Technologies: $27.66 million versus $26.57 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +14.8% change.
Net Sales by Product Category- Musculoskeletal Solutions: $347.46 million versus $243.80 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +51% change.
Shares of Globus Medical have returned -12.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Globus Medical (GMED) Reports Q3 Earnings: What Key Metrics Have to Say
Globus Medical (GMED - Free Report) reported $383.64 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 51%. EPS of $0.57 for the same period compares to $0.50 a year ago.
The reported revenue represents a surprise of +42.39% over the Zacks Consensus Estimate of $269.43 million. With the consensus EPS estimate being $0.54, the EPS surprise was +5.56%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Globus Medical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Geographic Revenues- International: $74.24 million compared to the $40.25 million average estimate based on three analysts. The reported number represents a change of +100% year over year.
- Geographic Revenues- United States: $309.32 million compared to the $229.37 million average estimate based on three analysts. The reported number represents a change of +42.5% year over year.
- Net Sales by Product Category- Enabling Technologies: $27.66 million versus $26.57 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +14.8% change.
- Net Sales by Product Category- Musculoskeletal Solutions: $347.46 million versus $243.80 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +51% change.
View all Key Company Metrics for Globus Medical here>>>Shares of Globus Medical have returned -12.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.