Recap: Conmed Q4 Earnings
Portfolio Pulse from Benzinga Insights
Conmed (NYSE:CNMD) reported Q4 earnings with an EPS of $1.06, missing the estimate of $1.11 by 4.5%. However, revenue increased by $76.18 million compared to the same period last year. In the previous quarter, Conmed beat the EPS estimate which resulted in a 2.95% share price increase the following day. The company's past earnings performance shows fluctuations in EPS and revenue when compared to estimates.
January 31, 2024 | 9:15 pm
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NEGATIVE IMPACT
Conmed reported a lower than expected Q4 EPS at $1.06, missing estimates by 4.5%, but showed a significant increase in revenue compared to last year.
Missing the EPS estimate is likely to have a negative short-term impact on Conmed's stock price, as seen historically with stock prices typically reacting adversely to earnings misses. However, the increase in revenue may offset some of the negative sentiment. The previous quarter's positive reaction to an earnings beat indicates that the market is responsive to Conmed's earnings reports.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100