Welcome to our dedicated page for Avanos Medical news (Ticker: AVNS), a resource for investors and traders seeking the latest updates and insights on Avanos Medical stock.
Avanos Medical, Inc. (NYSE: AVNS) is a medical technology company headquartered in Alpharetta, Georgia, with a portfolio focused on nutrition support and opioid-sparing pain management. This news page aggregates company-issued updates and market-moving announcements so readers can follow how Avanos executes its strategy across its Specialty Nutrition Systems (SNS) and Pain Management & Recovery (PM&R) segments.
Recent news releases highlight financial results, segment performance and portfolio changes. Avanos regularly reports quarterly results, detailing net sales, operating income and segment trends for SNS and PM&R, along with non-GAAP measures such as adjusted operating income, adjusted net income, adjusted diluted earnings per share, adjusted EBITDA and free cash flow. These earnings updates often discuss demand in life-sustaining enteral feeding and neonate solutions, momentum in radiofrequency ablation (RFA) solutions and changes in surgical pain and recovery product volumes.
News coverage also includes strategic transactions and partnerships. Avanos has announced the divestiture of its Hyaluronic Acid product line, including TriVisc and GenVisc 850, to Channel-Markers Medical, and an agreement for WRS Group to acquire its US Game Ready orthopedic rental business while Avanos continues to manufacture and supply Game Ready systems and accessories under a long-term agreement. On the acquisition side, Avanos has reported the purchase of Nexus Medical, adding TKO anti-reflux needleless connector technology to its Specialty Nutrition Systems business.
In addition, Avanos issues updates on leadership changes, organizational restructuring and investor events, such as webcasts of earnings conference calls and presentations at healthcare conferences. Investors and observers can use this page to review how Avanos communicates its transformation progress, portfolio focus and financial performance over time.
Avanos Medical reported Q2 2020 financial results with net sales of $164 million, down 5% from the previous year. Despite a net loss of $3 million, an improvement from a $8 million loss last year, adjusted net income dropped to $6 million from $14 million. Although elective procedures surpassed expectations, concerns about rising COVID-19 cases may hinder recovery. The company remains focused on cost reduction and growth, anticipating continued challenges into 2021. Cash flow improved with a $6 million outflow compared to $55 million last year, maintaining a cash balance of $185 million.
Avanos Medical will host a conference call on August 4, 2020 at 9 a.m. ET to discuss Q2 2020 financial results and business highlights. A news release detailing the financial results will be issued before the market opens on the same day. The call will be led by CEO Joe Woody and CFO Michael Greiner. A live webcast will be available on the Avanos Medical website, and a replay will be accessible later. Avanos focuses on innovative medical solutions to enhance patient care.