OrthoPediatrics Corp Reports Q2 2024 Financial Results
Intellectia.AI Updated: 2024-08-06
OrthoPediatrics Corp. Reports Q2 2024 Financial Results
OrthoPediatrics Corp. has released its financial results for the second quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | QoQ Change (%) | YoY Change (%) | Consensus Estimate |
|---|---|---|---|---|---|
| Revenue | $52.60M | $48.00M | +1.1% | +9.5% | $52.49M |
| Earnings Per Share (EPS) | -$0.28 | -$0.23 | -21.7% | -17.9% | -$0.27 |
Interpretation: OrthoPediatrics' revenue for Q2 2024 was slightly above market expectations, showing a 9.5% increase year-over-year (YoY) and a 1.1% increase quarter-over-quarter (QoQ). However, the company's EPS fell below consensus estimates and showed a decline both YoY and QoQ, indicating higher expenses or lower margins.
Revenue Performance by Segment
| Segment | Revenue Q2 2024 | Revenue Q2 2023 | QoQ Change (%) | YoY Change (%) |
|---|---|---|---|---|
| Trauma & Deformity Solutions | $30.00M | $28.00M | +7.1% | +7.1% |
| Scoliosis Solutions | $15.00M | $13.00M | +15.4% | +15.4% |
| Sports Medicine | $7.60M | $7.00M | +8.6% | +8.6% |
Interpretation: All major segments demonstrated positive revenue growth YoY and QoQ, with Scoliosis Solutions showing the most substantial growth. This suggests that the company is performing well across its primary business units.
Dividends and Share Repurchase Program
OrthoPediatrics has announced a stock repurchase program of up to $5.0 million, which is roughly 0.7% of the company’s outstanding common stock based on the closing price on August 2, 2024.
Stock Price Movement
Following the earnings release, OrthoPediatrics' stock experienced a decline of approximately 1.76%.
In summary, OrthoPediatrics demonstrated a solid revenue performance with growth across all its major segments. However, a decline in EPS indicates room for improvement in cost management or margin enhancement. The announced share repurchase program may provide some support to shareholder value despite the slight decline in stock price post-earnings release.
Note: Sections on Key Operational Data, Comments from Company Officers, and Forward Guidance were omitted as no information was provided.
