ResMed (RMD) Tops Q1 EPS by 2c, Revenues Beat

ResMed (NYSE: RMD) reported Q1 EPS of $0.81, $0.02 better than the analyst estimate of $0.79. Revenue for the quarter came in at $588.3 million versus the consensus estimate of $571.29 million.

• Revenue increased 12% to $588.3 million; up 13% on a constant currency basis
• Net income increased by 23%; non-GAAP net income up 23%
• GAAP diluted earnings per share of $0.73; non-GAAP diluted earnings per share of $0.81

“Our first quarter 2019 results demonstrate continued strong performance across our business with 13 percent top-line revenue growth, driven by growth across our entire portfolio of offerings,” said Mick Farrell, ResMed’s chief executive officer. “We also delivered another quarter of improving operating leverage resulting in double-digit growth at the bottom line.”

Farrell continued, “During the quarter we expanded our product portfolio with new masks and made ongoing upgrades to our digital health solutions, separating ResMed from the competition. We provide customers with services and solutions to help improve patient outcomes, create efficiencies, and reduce overall healthcare system costs.”

For earnings history and earnings-related data on ResMed (RMD) click here.

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