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Globus Medical (GMED) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2024, Globus Medical (GMED - Free Report) reported revenue of $625.71 million, up 63.1% over the same period last year. EPS came in at $0.83, compared to $0.57 in the year-ago quarter.
The reported revenue represents a surprise of +3.44% over the Zacks Consensus Estimate of $604.93 million. With the consensus EPS estimate being $0.65, the EPS surprise was +27.69%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Globus Medical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenues- International: $129.92 million versus $117.63 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +75% change.
Geographic Revenues- United States: $495.79 million compared to the $483.82 million average estimate based on three analysts. The reported number represents a change of +60.3% year over year.
Net Sales by Product Category- Enabling Technologies: $38.30 million versus $31.12 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +38.5% change.
Net Sales by Product Category- Musculoskeletal Solutions: $587.40 million compared to the $572.79 million average estimate based on five analysts. The reported number represents a change of +69.1% year over year.
Shares of Globus Medical have returned +6.9% over the past month versus the Zacks S&P 500 composite's -0.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Globus Medical (GMED) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2024, Globus Medical (GMED - Free Report) reported revenue of $625.71 million, up 63.1% over the same period last year. EPS came in at $0.83, compared to $0.57 in the year-ago quarter.
The reported revenue represents a surprise of +3.44% over the Zacks Consensus Estimate of $604.93 million. With the consensus EPS estimate being $0.65, the EPS surprise was +27.69%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Globus Medical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Geographic Revenues- International: $129.92 million versus $117.63 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +75% change.
- Geographic Revenues- United States: $495.79 million compared to the $483.82 million average estimate based on three analysts. The reported number represents a change of +60.3% year over year.
- Net Sales by Product Category- Enabling Technologies: $38.30 million versus $31.12 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +38.5% change.
- Net Sales by Product Category- Musculoskeletal Solutions: $587.40 million compared to the $572.79 million average estimate based on five analysts. The reported number represents a change of +69.1% year over year.
View all Key Company Metrics for Globus Medical here>>>Shares of Globus Medical have returned +6.9% over the past month versus the Zacks S&P 500 composite's -0.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.