Sales and Revenue Growth
Total sales for Q2 were $342.3 million, slightly above the high end of guidance. Year-over-year growth was 3.1% as reported and 2.9% in constant currency.
Adjusted Earnings Growth
Adjusted net income increased 16.4% year-over-year to $35.6 million, and adjusted diluted net earnings per share increased 17.3% year-over-year to $1.15.
General Surgery Segment Performance
Worldwide general surgery sales grew 4.4%, driven by platforms like AirSeal and legislative adoption in Buffalo Filter.
Orthopedic Segment Resilience
Despite ongoing supply chain challenges, orthopedic products grew, with BioBrace experiencing double-digit demand.
Supply Chain and Operational Improvements
Efforts to stabilize and scale operations are underway, with expectations to see significant improvements by year-end.
Debt and Leverage Management
Long-term debt decreased slightly, and the leverage ratio improved to 3.1x, better than expected. The company aims to reduce it below 3.0 by the end of 2025.