Enovis Corporation

ENOV

Equity

ISIN US1940145022 / Valor 117620153

New York Stock Exchange, Inc (2024-12-24)

USD 43.95+1.71%

Enovis Corporation
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About company

Enovis Corporation is a prominent medical technology company dedicated to creating innovative solutions that improve patient outcomes and streamline healthcare processes. With a focus on developing clinically advanced products, Enovis aims to revolutionize the way medical professionals deliver care to their patients. Through their cutting-edge technologies and commitment to excellence, Enovis is at the forefront of driving advancements in the healthcare industry.

Summarized from source with an LLMView SourceSector: Industrials

Revenue Growth

Enovis Corporation reported second-quarter 2024 net sales of $525 million, reflecting a 23% increase on a reported basis and a 5% increase on a comparable sales basis from the same quarter in 2023. This growth was driven by stable execution in P&R, strong growth in International Recon, and the addition of recent acquisitions, Lima and Novastep.

Net Loss

For the second quarter of 2024, Enovis Corporation reported a net loss from continuing operations of $18 million, which translates to a loss of $0.34 per share. This net loss represents 3.5% of sales on a reported basis.

Adjusted Earnings

Enovis Corporation's adjusted earnings per diluted share for the second quarter of 2024 were $0.62. This adjustment accounts for various non-recurring items and provides a clearer picture of the company's operational performance.

EBITDA Improvement

Enovis Corporation reported an adjusted EBITDA of $90 million for the second quarter of 2024, which is 17.2% of sales on a reported basis. This represents an increase of 190 basis points compared to the same quarter in the previous year, driven by the addition of Lima, product and geographic mix, new product introductions, and execution on key EGX initiatives.

Financial Outlook

Enovis Corporation has narrowed its full-year 2024 revenue range to $2.08-$2.13 billion and reaffirmed its adjusted EBITDA expectations, forecasting it to be between $368-$383 million. Additionally, the company raised its full-year adjusted earnings per diluted share guidance from $2.52-$2.67 to $2.62-$2.77.

Summarized from source with an LLMView Source

Key figures

-23.0%1Y

-47.4%3Y

-34.2%5Y

Performance

31.3%1Y

32.7%3Y

44.8%5Y

Volatility