Conmed Posts Mixed Bag Q4 Earnings, Issues FY22 Outlook

CONMED Corporation CNMD reported Q4 FY21 adjusted EPS of $1.07, compared to $0.84 a year ago, and better than the consensus of $1.06.

• Sales for the quarter rose 8.4% Y/Y to $273.97 million, missing the consensus of $278.76 million.
• Domestic revenue increased 5.0% Y/Y, and International revenue increased 12.7% as reported and 14.3% in constant currency.
• The gross margin improved from 53.6% to 56.9%, and the operating margin increased from 9.8% to 13.6%.
• "Our 2021 financial performance finished favorably against the expectations we set at the beginning of the year despite the challenging environment," noted Curt Hartman, CONMED's Chair of the Board, President & CEO.
• Guidance: Looking forward to FY22, CONMED expects adjusted earnings of $3.60 - $3.85 per share (consensus of $3.74) and revenues of $1.075 billion - $1.125 billion, compared to the consensus of $1.11 billion.
• Price Action: CNMD shares are up 1.74% at $124.00 during the premarket session on the last check Thursday.