Globus Medical (GMED) Q1 Earnings Miss Mark, Margins Weak
Zacks Investment Research | May 03, 2019 06:37AM ET
Globus Medical, Inc. (NYSE:GMED) reported first-quarter 2019 adjusted earnings per share (EPS) of 36 cents, missing both the Zacks Consensus Estimate and the year-ago figure by 12.2%.
On a reported basis, the company registered earnings of 33 cents per share, translating to a 15.4% decline from the year-ago quarter.
Revenue Details
First-quarter 2019 worldwide sales summed $182.9 billion, up 4.9% (up 5.7% at constant exchange rate or CER) year over year. The figure, however, lagged the Zacks Consensus Estimate of $186 million. Also, net sales totaled $713 million in the period, up 12.1% year over year.
During the quarter under review, sales generated in the United States including robotic inched up 1.3% year over year. Quarterly seasonality and longer sales cycles dampened robotic sales in the reported period.
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