Avanos Medical, Inc. (NYSE: AVNS) reported Q2 EPS of $0.13, $0.23 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $164 million versus the consensus estimate of $147.9 million.

"We're pleased we continue to meet the needs of patients during the pandemic, as we quickly acted to increase production capacity for our clinically-proven Respiratory Health products, while ensuring our employees\' health and safety," stated Joe Woody, Avanos\' chief executive officer.

"During the quarter we were excited to see elective procedure volume return above expectations, which bolstered our Pain Management franchises sales ahead of our forecast. While we are encouraged elective procedures resumed, we are cautious about the increasing number of COVID-19 cases and its potential impact to slow the recovery of elective procedures. Though we now anticipate the disruption will continue into 2021, the strategic steps taken to reduce costs and deliver improved cash flow position us for growth in a post COVID-19 environment."

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