Avanos Medical, Inc. (AVNS) Tops Q2 EPS by 31c, Revenues Beat; Boosts FY18 EPS, Sales Growth Guidance

Avanos Medical, Inc. (NYSE: AVNS) reported Q2 EPS of $0.48, $0.31 better than the analyst estimate of $0.17. Revenue for the quarter came in at $160.9 million versus the consensus estimate of $157.14 million.

• Second quarter net sales from continuing operations, or Medical Device sales, were $161 million, an 8 percent increase from the prior year. On a constant currency basis, sales increased 7 percent.
• Net income for the second quarter totaled $35 million, up from $17 million in the prior year. Adjusted net income totaled $23 million, compared to $24 million a year ago.
• Second quarter diluted earnings per share totaled $0.73, compared to $0.37 a year ago.
• Adjusted diluted earnings per share were $0.48, compared to $0.51 in the prior year.
• Second quarter EBITDA totaled $119 million, compared to $45 million in the prior year. On an adjusted basis, EBITDA was $36 million for the quarter, compared to $51 million in the prior year.

"I'm pleased to announce another strong quarter with 7 percent organic top-line growth driven by continued strength in Coolief and Chronic Care," said Joe Woody, Avanos chief executive officer. "Looking at the balance of the year, we\'re well-positioned to continue to drive performance with momentum across our business. With our solid financial profile, we'll continue to pursue acquisitions - like Game Ready that drive shareholder value. As a result, we are now raising top-line sales growth to 5 to 7 percent and full-year earnings per share guidance to $1.75 to $1.90."

GUIDANCE:

Avanos Medical, Inc. sees FY2018 EPS of $1.75-$1.90, versus the consensus of $0.68.

For earnings history and earnings-related data on Avanos Medical, Inc. (AVNS) click here.

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