ResMed (RMD) Tops Q1 EPS by 6c, Revenues Beat

ResMed (NYSE: RMD) reported Q1 EPS of $0.93, $0.06 better than the analyst estimate of $0.87. Revenue for the quarter came in at $681.1 million versus the consensus estimate of $660.66 million.

First Quarter 2020 Highlights

• Revenue increased 16% to $681.1 million; up 17% on a constant currency basis
• Gross margin expanded 120 bps to 59.5%
• Net operating profit increased 19%; non-GAAP operating profit up 22%
• GAAP diluted earnings per share of $0.83; non-GAAP diluted earnings per share of $0.93

“Our global ResMed team delivered another quarter of strong performance in the first quarter of fiscal year 2020 with double-digit topline revenue growth, balanced growth across our businesses and regions, and further improvements in operating leverage resulting in double-digit growth at the bottom line,” said Mick Farrell, ResMed’s CEO. “We were particularly pleased that strong customer demand for our new products drove high-teens growth in the mask category during the quarter. Through organic growth and targeted acquisitions, we’re driving forward every facet of our business, leading the innovation of devices and software that improve health outcomes, create efficiencies, and reduce overall healthcare system costs. We’re well on our way to improving 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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