Colfax Corp. (CFX) Tops Q1 EPS by 4c, Revenues Beat; Raises FY21 EPS Guidance, Provides 2Q EPS Outlook

Colfax Corp. (NYSE: CFX) reported Q1 EPS of $0.44, $0.04 better than the analyst estimate of $0.40. Revenue for the quarter came in at $879 million versus the consensus estimate of $841.23 million.

• Reported $0.19 EPS from continuing operations and achieved $0.44 of adjusted EPS
• Grew sales 8% including organic sales-per-day growth of 9%
• Recently announced expanded fast-growing foot & ankle business with April acquisition of MedShape

“Our results and momentum strengthened throughout the quarter,” said Matt Trerotola, Colfax President and CEO. “At ESAB, increased demand and our successful execution of margin expansion activities resulted in our highest-ever EBITA margin. In MedTech, market conditions improved and our Reconstructive segment delivered 8% organic sales-per-day growth and continues to gain share. We drove strong free cash flow in the quarter and are well on our way to generating more than $250 million in 2021. We are well-capitalized and positioned to execute our strategic growth program.”

GUIDANCE:

Colfax Corp. sees Q2 2021 EPS of $0.48-$0.53, versus the consensus of $0.53.

Colfax Corp. sees FY2021 EPS of $2.05-$2.15, versus the consensus of $2.12.

Due to the strength of first quarter results, the Company announced that it is raising the low-end of its 2021 adjusted EPS outlook from $2.00-$2.15 to $2.05-$2.15. For the second quarter of 2021, Colfax expects adjusted earnings of $0.48 to $0.53 per diluted share. This guidance range reflects the recent equity issuance and senior note redemptions.

For earnings history and earnings-related data on Colfax Corp. (CFX) click here.

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