Published on 21 Feb 2024 on GuruFocus.com via Yahoo Finance

Globus Medical Inc (GMED) Posts Record Sales Amid NuVasive Merger, Despite Net Income Dip

Record Sales: GMED reported record worldwide net sales of $616.5 million in Q4 and $1.568 billion for the full year, driven by the NuVasive merger and increased product volumes.Net Income Decline: GAAP net income for Q4 decreased by 70% to $15.0 million, primarily due to acquisition-related costs, while non-GAAP net income rose by 38.9%.Earnings Per Share (EPS): Q4 diluted EPS was $0.11, a decrease from $0.49 in the prior year, while non-GAAP diluted EPS increased slightly to $0.60.Operational Cash Flow: Net cash provided by operating activities reached $258.9 million for the full year, with non-GAAP free cash flow at $178.9 million.2024 Guidance: GMED reaffirms its full year 2024 revenue guidance range of $2.450 billion to $2.475 billion and non-GAAP EPS between $2.68 to $2.70.

Warning! GuruFocus has detected 4 Warning Signs with GMED.

On February 20, 2024, Globus Medical Inc (NYSE:GMED), a leading musculoskeletal technology company, released its 8-K filing, announcing financial results for the fourth quarter and the full year ended December 31, 2023. The company, known for its innovative medical devices and instruments for spinal and orthopedic procedures, as well as advanced surgical technologies, has reported a significant increase in sales, attributing much of the growth to its strategic merger with NuVasive.