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Globus Medical (GMED) Q2 Earnings Preview: What You Should Know Beyond the Headline Estimates
In its upcoming report, Globus Medical (GMED - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.68 per share, reflecting an increase of 7.9% compared to the same period last year. Revenues are forecasted to be $615 million, representing a year-over-year increase of 110.9%.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Globus Medical metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts predict that the 'Net Sales by Product Category- Enabling Technologies' will reach $36.05 million. The estimate indicates a change of +3.7% from the prior-year quarter.
Analysts forecast 'Net Sales by Product Category- Musculoskeletal Solutions' to reach $578.02 million. The estimate points to a change of +125% from the year-ago quarter.
The consensus among analysts is that 'Geographic Revenues- International' will reach $122.70 million. The estimate points to a change of +166% from the year-ago quarter.
It is projected by analysts that the 'Geographic Revenues- United States' will reach $490.73 million. The estimate indicates a year-over-year change of +99.9%.
View all Key Company Metrics for Globus Medical here>>>
Globus Medical shares have witnessed a change of +0.5% in the past month, in contrast to the Zacks S&P 500 composite's -2.9% move. With a Zacks Rank #3 (Hold), GMED is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>