NuVasive (NUVA) Reports In-Line Q2 EPS, Revenues Beat; Offers FY18 EPS Outlook Below Consensus

NuVasive (NASDAQ: NUVA) reported Q2 EPS of $0.58, in-line with the analyst estimate of $0.58. Revenue for the quarter came in at $281 million versus the consensus estimate of $276.26 million.

Second Quarter 2018 Highlights

• Revenue increased 8.5% to $281.6 million, or 7.7% on a constant currency basis;
• GAAP operating profit margin of 10.1%; Non-GAAP operating profit margin of 16.3%; and
• GAAP diluted earnings per share increase of 5% to $0.22; Non-GAAP diluted earnings per share increase of 29% to $0.58.

"We are pleased with our second quarter total revenue growth of 8.5% year-over-year driven by momentum in our U.S. Spinal Hardware business where we saw spine case volumes up nearly 7% versus prior year," said Gregory T. Lucier, chairman and chief executive officer of NuVasive. "We continue to see strong demand for new product introductions from late last year and positive surgeon conversion efforts as our new Lateral Single-Position Surgery procedure gains traction in the market. Our International business also delivered a solid performance with 21% year-over-year growth."

• Full-year 2018 revenue remains in the range of $1,095 million to $1,105 million reflecting reported growth of 6.7% to 7.6%, and growth in the range of 4.7% to 5.7%, exclusive of the SafePassage acquisition;
• Non-GAAP diluted earnings per share in a range of $2.37 to $2.40 compared with the prior expectation of $2.44 to $2.47;
• Non-GAAP operating profit margin of approximately 16.7% compared with the prior expectation of 17.6%;
• Adjusted EBITDA margin of approximately 25.9% compared with the prior expectation of 26.9%;
• Non-GAAP effective tax expense rate of approximately 21%, compared with the prior expectation of approximately 23%;
• The Company expects currency to have a positive impact on revenue in 2018 of approximately $3 million compared with the prior expectation of $10 million; and
• The Company expects to drive an adjusted EBITDA of approximately $283 million to $293 million.

GUIDANCE:

NuVasive sees FY2018 EPS of $2.37-$2.40, versus the consensus of $2.44.

For earnings history and earnings-related data on NuVasive (NUVA) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Diana Shipping drops bid for Genco after price demands spike to $36.91
• CaliberCos Inc (CWD) Misses Q2 EPS by 43c; Offers Guidance