Intuitive Surgical (ISRG) Q4 Earnings Top, Margins Expand

 | Jan 24, 2020 07:06AM ET

Intuitive Surgical, Inc. (NASDAQ:ISRG) reported adjusted earnings per share (EPS) of $3.48 in the fourth quarter of 2019, beating the Zacks Consensus Estimate of $3.26. Adjusted EPS improved 17.6% year over year.
The Zacks Rank #1 (Strong Buy) company recorded revenues of $1.28 billion, which improved 22.1% from the prior-year quarter. The figure also outpaced the Zacks Consensus Estimate of $1.23 billion.
2019 Results at a Glance
Intuitive Surgical’s 2019 revenues totaled $4.48 billion, beating the Zacks Consensus Estimate of $4.44 billion. The figure improved 20.3% from 2018.
Adjusted EPS was $12.76, surpassing the consensus mark of $12.57 and rising 16.1% year over year.
The company’s Instruments & Accessories sales were $2.41 billion (53.8% of net revenues), Systems revenues were $1.35 billion (30%) and Services revenues grossed $724.2 million (16.2%).
Segment Details
Instruments & Accessories
Revenues at the segment came in at $671.2 million, reflecting a year-over-year increase of 24.5% on 19% growth in da Vinci procedure volumes.
Systems
In the reported quarter, System revenues increased 22.2% year over year to $416.2 million. Notably, the company shipped 336 da Vinci Surgical Systems in the quarter.
Services
Services revenues came in at $190.3 million, up 14.2% from the year-ago quarter.

Intuitive Surgical, Inc. Price, Consensus and EPS Surprise

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