Globus Medical reports Q2 non-GAAP EPS 86c, consensus 75c

Reports Q2 revenue $745.3M, consensus $742.73M. “Q2 results were led by our US Spine business, growing 5.7%, as reported and 7.4% on a day-adjusted basis. US Spine had sustained momentum during the quarter, posting its highest sequential revenue growth since the second quarter of 2022,” commented Keith Pfeil, CEO. “Enabling Technologies showed a modest bounce back in Q2, while we remain focused on accelerating deal timelines from our pipeline to make robotic assisted surgery the standard of care moving ahead. We continue to step-up investment and output, delivering more product in the hands of our sales reps, while they continue to increase engagement with our surgeon partners, highlighting the clinical superiority of our products. These focused efforts will plant the seeds of driving a return to above market growth across our portfolio. Our long-term strategy remains unchanged, as we continue to focus on new product launches, driving organic growth, competitive rep recruiting to expand our sales force and robotic account pull through. We remain steadfast on those focal areas, while working to finalize integration efforts from our recent M&A activity in a manner that demonstrates topline growth and financial prudence.”