Conmed (CNMD) Tops Q1 EPS by 5c; Withdraws Guidance

Conmed (NASDAQ: CNMD) reported Q1 EPS of $0.51, $0.05 better than the analyst estimate of $0.46. Revenue for the quarter came in at $214 million versus the consensus estimate of $214.85 million.

“Our first quarter results were meaningfully impacted by the global COVID-19 pandemic, particularly during the second half of the quarter,” commented Curt R. Hartman, CONMED’s President and Chief Executive Officer. “While the current environment is challenging, we have taken decisive actions to protect our employees, solidify the financial security of the Company, and fortify the future of CONMED. Although we anticipate continued pressure in the near term, we believe our actions have positioned us to respond effectively when demand recovers.”

GUIDANCE:

Healthcare providers around the globe have shifted their attention to caring for victims of the COVID-19 pandemic and preventing the spread of the virus, which has resulted in a deferral of surgical volumes. Due to the uncertainty created by this evolving dynamic, management has withdrawn its previously provided 2020 guidance, as announced on March 20, 2020, and is unable to provide reliable guidance at this time.

For earnings history and earnings-related data on Conmed (CNMD) click here.

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