Globus Medical Reports Impressive Q1 2024 Earnings Growth

Wednesday, 8 May 2024, 04:45

Globus Medical reported a strong Q1 2024 performance with notable gains in sales and earnings. The company remains focused on achieving mid-30s adjusted EBITDA over the near term. Moving forward, key areas of focus include leveraging cost savings, driving sales growth, and optimizing operational efficiencies. The company is confident in its ability to deliver sustained profitable growth and drive shareholder value.
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Globus Medical Reports Impressive Q1 2024 Earnings Growth

Overview

Globus Medical reported a strong Q1 2024 performance with notable gains in sales and earnings. The company remains focused on achieving mid-30s adjusted EBITDA over the near term. Key areas of focus include leveraging cost savings, driving sales growth, and optimizing operational efficiencies.

Financial Highlights

  • Q1 revenue: $606.7 million, up 119.3% YoY
  • Q1 non-GAAP net income: $98.1 million, with EPS of $0.72

Operational Updates

  1. Globus Medical continues to invest in product development and enabling technology solutions.
  2. Integration efforts post-merger are progressing well, with a focus on driving cost synergies and operational efficiencies.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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