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Globus Medical (GMED) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Globus Medical (GMED) reported revenue of $606.67 million, up 119.3% over the same period last year. EPS came in at $0.72, compared to $0.53 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $586.66 million, representing a surprise of +3.41%. The company delivered an EPS surprise of +30.91%, with the consensus EPS estimate being $0.55.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Globus Medical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Geographic Revenues- International: $123.74 million versus the three-analyst average estimate of $108.73 million. The reported number represents a year-over-year change of +190.7%.

  • Geographic Revenues- United States: $482.93 million compared to the $479.99 million average estimate based on three analysts. The reported number represents a change of +106.3% year over year.

  • Net Sales by Product Category- Enabling Technologies: $31.97 million versus the five-analyst average estimate of $25.85 million. The reported number represents a year-over-year change of +27.5%.

  • Net Sales by Product Category- Musculoskeletal Solutions: $574.70 million compared to the $560.30 million average estimate based on four analysts. The reported number represents a change of +128.4% year over year.

View all Key Company Metrics for Globus Medical here>>>

Shares of Globus Medical have returned -5.5% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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