CONMED reports Q4 sales down 8.4%, adj. EPS down 60.7% on warehouse software disruption

CONMED Corp

2022-FY EPS reported -$2.68 revenue$1,045,472,000

Q4 sales $250.9M (-8.4% YoY); GAAP EPS $0.86 vs $0.75 YoY; adjusted EPS $0.42 vs $1.07.
Full-year sales $1,045.5M (+3.4%); GAAP net loss per share $2.68; adjusted EPS $2.65 (-17.4%).
Q4 disruptions from new warehouse management system; management cites daily shipping now at or above historical rates.
2023 guidance: revenue $1.17B-$1.22B, adjusted EPS $3.20-$3.45, with FX headwind of $0.20-$0.25 per share.
Completed acquisitions of In2Bones (June 2022) and Biorez (Aug 2022), contributing ~240bps to full-year growth.

item 2.02 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

CONMED Corp reported the fourth quarter ended December 31, 2022 results: revenue $250.9 million, net income $26,584, EPS $0.86.

Period: the fourth quarter ended December 31, 2022
Revenue: $250.9 million
Net income: $26,584
EPS: $0.86
Result: reported results

Exact text from the filing

December 31, 2022. Fourth Quarter 2022 Highlights · Fourth quarter 2022 sales significantly impacted by the implementation of new warehouse management software. · Sales of $250.9 million decreased 8.4% year over year as reported and 7.0% in constant currency. Acquisitions contributed approximately 460 basis points of growth. · Domestic revenue decreased 3.9% year

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Source: SEC EDGAR

accession 0001174947-23-000151

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