Orthofix Q3 net sales $184M (+61% reported, +8% pro forma); GAAP EPS -$0.77, adj. $0.07

Orthofix Medical Inc.

2023-Q3 EPS reported -$3.53 revenue$546,226,000

Net sales $184M, +61% reported, +8% pro forma (excl. one-time stocking order); Bone Growth Therapies +15%.
GAAP net loss $28.9M ($0.77/share); adjusted net income $2.7M ($0.07/share); adjusted EBITDA $13.5M (7.3% of sales).
Entered new $150M financing agreement (Nov 6, 2023), replaced prior $175M revolver; cash $33.7M at Sep 30.
Updated 2023 net sales guidance lowered to $739M-$744M (prev $752M-$758M); adjusted EBITDA guidance unchanged $42M-$46M.
Management transition: Catherine Burzik (Chair) as Interim CEO after board investigation led to departure of three former executives.

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 0.9

Orthofix Medical Inc. reported the quarter ended September 30, 2023 results: revenue $184.0 million, net income Net loss was $(28.9) million, EPS $(0.77). Guidance reaffirmed.

Period: the quarter ended September 30, 2023
Revenue: $184.0 million
Net income: Net loss was $(28.9) million
EPS: $(0.77)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net sales were $184.0 million, earnings per share (“EPS”) was $(0.77), and adjusted EPS was $0.07.

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Orthofix Medical Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-061122

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