ResMed (RMD) Tops Q3 EPS by 4c, Revenues Beat

ResMed (NYSE: RMD) reported Q3 EPS of $0.89, $0.04 better than the analyst estimate of $0.85. Revenue for the quarter came in at $662.2 million versus the consensus estimate of $657.77 million.

• Revenue increased 12% to $662.2 million; up 15% on a constant currency basis
• Gross margin expanded 100bps to 59.2%
• Net operating profit increased 15%; non-GAAP operating profit up 15%
• GAAP diluted earnings per share of $0.73; non-GAAP diluted earnings per share of $0.89

“We had another strong quarter with top-line revenue growth across all categories of our business, including a solid contribution from recently acquired SaaS companies and growth in international device sales,” said Mick Farrell, ResMed’s CEO. “Our expanding mask portfolio continues to drive share growth across all geographies and we have a solid product pipeline to support future growth, including the recent launch of the AirFit P30i. We delivered operating leverage this quarter, even as we execute on our long-term strategy to provide innovative products, software, and solutions to improve outcomes, create efficiencies, and reduce overall healthcare system costs. We are on a trajectory to improve 250 million lives in out-of-hospital healthcare in 2025.”

For earnings history and earnings-related data on ResMed (RMD) click here.

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