Published on 25 Apr 2023 on Zacks via Yahoo Finance
MedTech Stocks' Q1 Earnings Due on Apr 26: MMSI, CNMD & More
So far, this earnings season has reflected a continued recovery in sales for companies in the Medical sector. Inflationary headwinds, supply chain challenges and labor shortages, however, continued for the sector. These hurt the bottom line amid recovering demand for medical products and services.
Per the latest Earnings Preview, 8.8% of the companies in the Medical sector, comprising 27.5% of the sector’s market capitalization, reported earnings till Apr 19. Each of these companies beat estimates on earnings and revenues. While earnings declined 2.4% year over year, revenues improved 9.8%.
This scorecard highlights the Medical sector’s continued resilience amid an uncertain macroeconomic environment. Throughout the first quarter, the companies saw rising demand for surgery-related procedures.