GLOBUS MEDICAL INC - GMED STOCK NEWS

Globus Medical (NYSE: GMED) reported its Q2 2024 financial results, showing significant growth. Worldwide net sales reached $629.7 million, a 115.9% increase year-over-year. GAAP net income was $31.8 million, with GAAP diluted EPS at $0.23 and non-GAAP diluted EPS at $0.75. The company's growth was largely driven by the NuVasive acquisition and increased sales in spine products and enabling technology.

U.S. net sales grew by 103.5%, while international sales surged by 182.3%. Despite the revenue increase, GAAP net income decreased by 45% due to amortization costs and restructuring expenses. Globus Medical raised its 2024 guidance, projecting revenue between $2.47 to $2.49 billion and non-GAAP EPS of $2.80 to $2.90.

Globus Medical (NYSE: GMED) has received FDA 510(k) clearance for ExcelsiusFlex™ with Total Knee Arthroplasty (TKA) application and the ACTIFY™ 3D Total Knee System. ExcelsiusFlex™ is a robotic navigation platform designed to offer surgeons control, resection accuracy, and procedural flexibility in TKA. It assists in primary total knee arthroplasty procedures with robotically guided resections based on implant placement planning.

The ACTIFY™ 3D Total Knee System is a contemporary total knee solution designed for cementless reconstruction, operative efficiency, and anatomic fit. It combines strength and a porous lattice interface for cementless fixation. Globus Medical is now preparing for commercial release of both systems in the near future.

Globus Medical (NYSE:GMED), a leading musculoskeletal solutions company, has scheduled its second quarter 2024 earnings release for Tuesday, August 6, 2024, after market close. The company will host a teleconference at 4:30 p.m. Eastern Time to discuss its financial performance with the investment community.

Interested parties can access the conference call via webcast on the Investors page of Globus Medical's website or by telephone after registering in advance. The audio archive will be available on the company's Investor page following the call.

Globus Medical, Inc. reported strong financial results for the first quarter of 2024 with worldwide net sales reaching $606.7 million, marking a significant increase of 119.3% over the previous year. The company's GAAP net loss was $7.1 million, with a GAAP diluted EPS of ($0.05) and non-GAAP diluted EPS of $0.72. The company's focus on integration following the NuVasive merger has led to positive outcomes, positioning them well for the future. The updated guidance for full year 2024 revenue and earnings also shows an increase over previous estimates.

Globus Medical, Inc. (NYSE:GMED) will release its first-quarter financial results on May 7, 2024, followed by a conference call to discuss its performance with investors. The release will be available on the company's website, and participants can join the call via webcast or telephone.

Globus Medical, Inc. (NYSE: GMED) reported strong financial results for Q4 2023 and full year 2023, with record worldwide net sales. The merger with NuVasive has been successful, driving growth and enhancing customer service. The company remains focused on innovation, product launches, and merger integration. Despite a decrease in GAAP net income for Q4 2023 due to acquisition costs, non-GAAP net income increased. The company reaffirmed its 2024 revenue guidance range and earnings per share expectations.

Globus Medical, Inc. (GMED) will release its financial results for Q4 and full year 2023 on February 20, 2024. The company will host a teleconference to discuss its performance with investors. Participants can join via webcast or telephone.

Globus Medical, Inc. (NYSE: GMED) has promoted Keith Pfeil to the role of chief operating officer (COO) and chief financial officer (CFO) to drive the company's strategic roadmap through business and operational planning and financial performance management. Pfeil will oversee all day-to-day operational activities and financial activities, representing the organization to external stakeholders. The company expects to announce its fourth quarter and full year 2023 financial results on February 20, 2024.

Globus Medical, Inc. (NYSE: GMED) anticipates fourth quarter 2023 sales of approximately $615.5 million, an increase of 124.2 percent over the fourth quarter 2022. Full year 2023 sales are expected to be approximately $1.567 billion, an increase of 53.2 percent over the prior year. The company is well positioned for future growth drivers in the broader musculoskeletal market and has established its full year 2024 revenue guidance range of $2.450 billion to $2.475 billion.