Orthofix Q3: net sales $114M, GAAP EPS ($0.53); FY22 adj. EBITDA guidance cut; SeaSpine merger

Orthofix Medical Inc.

2022-Q3 EPS reported -$0.63 revenue$338,484,000

Net sales $114.0M, up 1% reported, 5% constant currency; Global Orthopedics grew 19% constant currency.
GAAP EPS ($0.53) vs ($0.11) prior year; adjusted EPS $0.13 vs $0.10.
Net loss widened to $10.7M from $2.2M; adjusted net income $2.7M.
FY2022 guidance lowered: net sales $457-463M, adjusted EBITDA $52-54M (from $53-57M), adjusted EPS $0.40-0.50 (from $0.45-0.55).
Announced agreement to merge with SeaSpine in all-stock merger of equals on October 11, 2022.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Orthofix Medical Inc. reported third quarter ended September 30, 2022 results: revenue $114.0 million, net income Net loss was $(10.7) million, EPS $(0.53) per share. Guidance reaffirmed.

Period: third quarter ended September 30, 2022
Revenue: $114.0 million
Net income: Net loss was $(10.7) million
EPS: $(0.53) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Orthofix Reports Third Quarter 2022 Results • Net sales of $114.0 million, an increase of 1% on a reported basis and 5% on a constant currency basis over prior year • Global Orthopedics net sales growth of 19% on a constant currency basis driven by new product and channel investments • GAAP EPS of ($0.53) and adjusted EPS of $0.13

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Source: SEC EDGAR

accession 0000950170-22-021534

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