Merit Medical Systems Inc. (MMSI) Tops Q1 EPS by 12c, Revenues Beat; Withdraws FY20 Guidance

Merit Medical Systems Inc. (NASDAQ: MMSI) reported Q1 EPS of $0.38, $0.12 better than the analyst estimate of $0.26. Revenue for the quarter came in at $243.5 million versus the consensus estimate of $233.23 million.

• Q1 2020 worldwide revenue of $243.5 million, up 2.2% as reported over Q1 2019
• Q1 2020 core revenue on a constant currency basis* up 3.0% over Q1 2019
• Q1 2020 GAAP loss per share was $(0.06), compared to GAAP EPS of $0.11 in Q1 2019
• Q1 2020 non-GAAP EPS* was $0.38, compared to $0.37 in Q1 2019

“The COVID-19 pandemic has been a historic shock to the economy, our industry and our country,” said Fred P. Lampropoulos, Merit’s Chairman and CEO. “I have been very impressed with how my colleagues at Merit have come together to support our customers, our patients and our company. While we anticipate headwinds in several of our business lines, I am confident that the diversity of the business, the strength of our people and our strong balance sheet position us well for recovery when that becomes more clear.”

2020 GUIDANCE

Due to the general uncertainty and rapidly changing global environment related to the coronavirus pandemic and corresponding economic downturn, Merit’s management has concluded that it cannot issue financial guidance for the remainder of 2020. As such, Merit’s previously issued 2020 guidance is withdrawn until further notice.

For earnings history and earnings-related data on Merit Medical Systems Inc. (MMSI) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Sinda raises $331M in IPO, reports Q2 net loss of $16.6M
• Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c