The following is a summary of the Enovis Corporation (ENOV) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Enovis Corporation reported Q1 sales of $516 million, up 27% year-over-year and 5% on a pro forma basis.

• Gross margin was 58.7%, up 70 basis points year-over-year driven by leverage from higher sales, favorable segment mix, and cost leverage.

• Adjusted EBITDA margin of 16.1% exceeded last year's Q1 performance by 220 basis points.

• Adjusted earnings per share for Q1 were $0.50 and the company raised its revenue guidance to $2.06 billion - $2.16 billion.

Business Progress:

• The corporation made significant headway on the integration of the Lima acquisition, advancing ahead of schedule.

• Expansion is planned in the European market with clearance for the ultimate small shell.

• Development initiatives have led to new product clearances, particularly in spines and therapeutic equipment, with expected growth in recovery sciences.

• Further business growth is expected with promising increase in product sales channels alignment and introduction of new products.

• The company has emphasised on broadening the use of its Arvis technology in the knee and shoulder surgeries and is targeting market leadership in these sectors by 2025.

More details: Enovis Corp IR

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