Globus Medical (NYSE:GMED) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Globus Medical Earnings Cheat Sheet
Revenue: Rose 10.85% to $105 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Globus Medical reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.20. It beat the average revenue estimate of $103.18 million.
Quoting Management: “I am very pleased with this quarter’s results, especially measured against our strong first quarter last year. Once again, our ability to deliver innovative products, attract top sales force talent and maintain financial discipline has enabled us to consistently deliver superior growth and profitability. We launched two products this quarter, and are on track to reach our annual target of 5-10 new products annually,” commented David Paul, Chairman and CEO.
Key Stats (on next page)…
Revenue increased 4.44% from $100.54 million in the previous quarter. EPS decreased 4.55% from $0.22 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.20 and has not changed. For the current year, the average estimate has moved up from a profit of $0.80 to a profit of $0.81 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)