NuVasive (NUVA) Tops Q1 EPS by 12c, Revenues Beat; Affirms FY19 EPS/Revenue Guidance

NuVasive (NASDAQ: NUVA) reported Q1 EPS of $0.53, $0.12 better than the analyst estimate of $0.41. Revenue for the quarter came in at $274.8 million versus the consensus estimate of $269.22 million.

First Quarter 2019 Highlights

• Revenue increased 5.5% to $274.8 million, or 6.4% on a constant currency basis;
• GAAP operating profit margin of 7.3%; Non-GAAP operating profit margin of 14.9%; and
• GAAP diluted earnings per share of $0.18; Non-GAAP diluted earnings per share of $0.53.

"In the first quarter 2019, NuVasive delivered a solid start to the year with focused execution across our U.S. Spinal Hardware, U.S. Surgical Support and International businesses," said Chris Barry, chief executive officer of NuVasive. "Coupled with these financial results, we continued to operate the business with rigor and discipline to drive profitability while strategically investing in key growth areas. This includes the recently launched X360 System for lateral single-position surgery integrated with Surgical Intelligence, further differentiation of our Advanced Materials Science portfolio and upcoming launch of the Pulse platform—all which enable our surgeon partners to provide better, more reproducible clinical outcomes for their patients through minimally invasive surgery."

GUIDANCE:

NuVasive sees FY2019 EPS of $2.20-$2.30, versus the consensus of $2.25. NuVasive sees FY2019 revenue of $1.14-1.16 billion, versus the consensus of $1.15 billion.

• Non-GAAP operating profit margin of 15.0% to 15.5%;
• EBITDA margin of 25.2% to 25.7%; and
• Non-GAAP effective tax expense rate of approximately 23%.

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

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