The following is a summary of the CONMED Corporation (CNMD) Q3 2024 Earnings Call Transcript:

Financial Performance:

• CONMED reported Q3 total sales of $316.7 million, a year-over-year increase of 4% as reported and 4.3% in constant currency.

• Adjusted net income rose to $32.7 million, marking a 15% increase from the previous year, with adjusted diluted net earnings per share at $1.05, up 16.7% year-over-year.

• GAAP net income was $49 million, a significant rise from $15.8 million in Q3 2023.

Business Progress:

• Pat Beyer was appointed as the new CEO in a smooth succession plan.

• Strong growth and continued demand were seen for the AirSeal product in U.S. capital sales.

• Orthopedics business showed a U.S. growth of 7.4% and efforts to improve the supply chain are ongoing.

• Hurricanes affected operations but the company managed to maintain functionality and expects to address production delays.

Opportunities:

• AirSeal product continues to grow strongly, underpinning CONMED's emphasis on expanding its surgical offerings.

• The company aims to return to accelerated top-line growth leveraging its diverse medical technology portfolio.

Risks:

• Hurricanes Helene and Milton impacted CONMED's facilities, creating operational challenges and potentially delaying surgical procedures.

• Ongoing issues with the orthopedic supply chain could pose further risks to future production capacity.

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