Globus Medical (GMED) Reports In-Line Q3 EPS, Beats on Revenues; Reaffirms FY17 EPS/Revenue Guidance

Globus Medical (NYSE: GMED) reported Q3 EPS of $0.30, in-line with the analyst estimate of $0.30. Revenue for the quarter came in at $151.7 million versus the consensus estimate of $150.39 million.

Highlights:

• Worldwide sales were $151.7 million, an increase of 11.9% as reported, and 11.8% in constant currency
• Third quarter net income was $25.6 million, or 16.9% of sales
• Diluted earnings per share (EPS) were $0.26
• Non-GAAP diluted EPS were $0.30
• Non-GAAP adjusted EBITDA was 35.2% of sales

2017 Annual Guidance

The company reaffirms guidance for full year 2017 sales of $625 million and non-GAAP fully diluted earnings per share of $1.27.

GUIDANCE:

Globus Medical sees FY2017 EPS of $1.27, versus the consensus of $1.27. Globus Medical sees FY2017 revenue of $625 million, versus the consensus of $624.55 million.

For earnings history and earnings-related data on Globus Medical (GMED) click here.

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