ResMed (RMD) Tops Q2 EPS by 5c, Revenues Miss

ResMed (NYSE: RMD) reported Q2 EPS of $1.00, $0.05 better than the analyst estimate of $0.95. Revenue for the quarter came in at $651.1 million versus the consensus estimate of $672.91 million.

• Revenue increased 8% to $651.1 million; up 9% on a constant currency basis
• Gross Margin expanded 70bps to 58.9%
• Net operating profit increased 8%; non-GAAP operating profit up 15%
• GAAP diluted earnings per share of $0.86; non-GAAP diluted earnings per share of $1.00

“We had a solid quarter with top-line growth and gross margin expansion, as well as continued fiscal discipline to drive leverage and improved operating profit,” said Mick Farrell, ResMed’s CEO. “Our new AirFit F30 and AirFit N30i masks have been launched in many markets, and mask sales are growing well globally. During the quarter we further expanded our software and device ecosystems, through the acquisitions of MatrixCare and Propeller Health, to provide digital health solutions to millions more people worldwide. We are empowering people to live healthier and happier lives where they live, and we are doing this by providing innovative software, services, and solutions to improve 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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