**Enovis Corporation Reports Second Quarter 2024 Financial Results**

**Enovis Corporation Reports Second Quarter 2024 Financial Results** Enovis Corporation (NYSE: ENOV), an innovation-driven medical technology growth company, announced its financial results for the second quarter ended June 28, 2024. **Key Financial Metrics** | Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY Change (%) | QoQ Change (%) | Consensus Estimates | Actual vs. Estimates | |-------------------------------------|-----------------|-----------------|-----------------|----------------|----------------|---------------------|----------------------| | Total Revenue | $525M | - | $427.64M | +23% | - | $526.01M | Slightly Below | | Earnings per Share (EPS, GAAP) | -$0.34 | - | - | - | - | $0.59 | Below | | Adjusted Earnings per Share (EPS) | $0.62 | - | - | - | - | - | Above | | Adjusted EBITDA | $90M | - | - | +190 bps | - | - | - | **Interpretation:** Enovis demonstrated strong sales growth of 23% year-over-year, but slightly missed its revenue estimate of $526.01 million. The company reported a net loss from continuing operations, resulting in a GAAP EPS of -$0.34, falling short of the consensus estimate. However, the adjusted EPS was reported at $0.62, exceeding the forecast, indicating effective cost management and margin improvement. **Revenue Performance by Segment** | Segment | Q2 2024 Revenue | Q2 2023 Revenue | YoY Change (%) | Comparable Sales Growth (%) | |--------------------|-----------------|-----------------|----------------|-----------------------------| | Reconstruction | Not Provided | - | +60% | +7% | | Prevention & Recovery (P&R) | Not Provided | - | +2% | +3% | **Interpretation:** The Reconstruction segment showed robust growth of 60% year-over-year, bolstered significantly by recent acquisitions. Comparable sales also reflected a healthy increase of 7% in this segment. The Prevention & Recovery (P&R) segment had modest growth of 2% on a reported basis and 3% on a comparable sales basis. **Key Operational Data** | Operational Highlights | Details | |-----------------------------------------|----------------------------------------------------------------------------------------------| | FDA 510k Clearances | Arvis 2.0 Shoulder and Altivate Reverse Glenoid system, launches expected in Q3 2024 | | New Facilities | Opened Business Technology Center in Lisbon and a new manufacturing facility in San Daniele | | EBITDA Margin Improvement | Adjusted EBITDA margin improved by 190 bps year-over-year | **Comments from Company Officers** "We continue to execute against our plan for the year and are off to a great start integrating our transformational Lima acquisition. The progress we have made year-to-date, as well as our robust lineup of important new product introductions, sets us up well for accelerating growth and profitability into 2025 and beyond," said Matt Trerotola, Chief Executive Officer of Enovis. **Dividends or Share Repurchase Program** No information on dividends or share repurchase programs was provided in the release. **Forward Guidance** Enovis reaffirmed its full-year 2024 revenue guidance of $2.08-$2.13 billion and adjusted EBITDA outlook of $368-$383 million. The company raised its full-year adjusted EPS guidance to $2.62-$2.77 from the previous range of $2.52-$2.67. **Stock Price Movement** The company's stock rose by approximately 0.7% following the earnings release, reflecting market reactions to the positive outlook and operational performance. In summary, Enovis delivered solid results in the second quarter of 2024 with significant growth in key segments and better-than-expected adjusted EPS. The company remains optimistic about its performance for the rest of the year, raising its full-year guidance and highlighting key strategic advancements.