ConMed posts improved 2024 earnings results

But company remains conservative for 2025 forecast

ConMed Corporation (NYSE: CNMD) posted solid fourth-quarter and full-year 2024 results on a 5 percent increase in sales at the medical-device manufacturer once headquartered in the Mohawk Valley. The company announced fourth-quarter sales of $345.9 million, up 5.8 percent from $327 million in the same quarter a year ago. ConMed posted adjusted earnings per share of $1.34 in the fourth quarter, up 26.4 percent from $1.06 in the year-prior earnings period, according to the company’s earnings report issued in early February. ConMed reported net income of $33.75 million in the fourth quarter of 2024, up 2 percent from almost $33.1 million for the fourth quarter of 2023. The device company’s adjusted earnings per share beat the consensus estimate by Zacks Equity Research by 11.7 percent. Zacks had predicted EPS of $1.20 per share. For the full year 2024, ConMed reported sales of nearly $1.31 billion, up 5 percent over 2023 sales of $1.24 billion, and adjusted earnings per share of $4.17, up 20.9 percent from the previous year’s total. Total-year net income at the company more than doubled from nearly $64.5 billion in 2023 to more than $132.4 billion in 2024. “This performance is generally in line with our expectations and financial guidance,” ConMed President/CEO Patrick J. Beyer said during a conference call with investors, analysts, and the media on Feb. 5. While noting current uncertainties about potential national tariffs, ConMed forecast full-year 2025 revenue between $1.344 billion and $1.372 billion, with projected first-quarter sales between $310 million and $316 million. For the full year, the company estimates earnings per share in the range of $4.25 to $4.40. Zacks noted the projections are a bit flat, as they factor in supply-chain challenges and currency headwinds, and noted that ConMed’s share price dropped 9.5 percent in the after-market session on Feb. 5. In all, ConMed’s stock price fell nearly 15 percent over the course of two weeks in the aftermath of the earnings report. “However, the company’s shares have gained 13.1 percent in the past six months compared with the industry’s 5.2 percent growth,” Zacks noted in its earnings review. ConMed, which operates a facility on French Road in New Hartford that used to be its HQ, manufactures devices and equipment for surgical procedures including orthopedics, general surgery, gynecology, thoracic surgery, and gastroenterology. The company is now based in Largo, Florida, which is located between Clearwater and St. Petersburg.