Conmed Q4 Adj EPS $1.06 Misses $1.11 Estimate, Sales $327.05M Miss $332.20M Estimate
Portfolio Pulse from mahesh@benzinga.com
Conmed Corporation (NYSE:CNMD) reported Q4 adjusted EPS of $1.06, missing the consensus estimate of $1.11 by 4.5%. Sales were $327.05M, also below the expected $332.20M, marking a 1.55% miss. Despite the misses, both earnings and sales showed significant increases from the same period last year, with earnings up 152.38% and sales up 30.37%.
January 31, 2024 | 9:13 pm
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NEGATIVE IMPACT
Conmed's Q4 earnings and sales missed analyst estimates, with EPS at $1.06 against an expected $1.11 and sales at $327.05M versus $332.20M forecasted. Despite the miss, there was a substantial year-over-year growth in both metrics.
Missing both EPS and sales estimates is likely to have a negative short-term impact on Conmed's stock price. However, the significant year-over-year growth could mitigate some of the negative sentiment. The score reflects the initial negative reaction to the earnings miss, while the importance is high due to the relevance of earnings reports to investor sentiment. The confidence level is not at 100 because the strong year-over-year growth might offer some support to the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100