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CONMED reported 3Q24 orthopedic sales of $130.5 million, up 4.7% compared to the third quarter of 2023. Year to date, the company generated $405 million in orthopedic sales, up 2.1% compared to the prior year.
The one-two punch of hurricanes Helene and Milton further stressed CONMED’s existing supply chain issues, as it created slowdowns in the company’s Largo facility where many of its orthopedic products are manufactured.
Additionally, hurricane damage to Baxter’s North Carolina facility and the resulting IV fluid shortage are impacting orthopedic procedure volumes, especially arthroscopic procedures.
“Yes, we have seen that already,” said Pat Beyer, CONMED’s COO and incoming CEO. “We have captured that in our guidance. We’ve kind of assumed a status quo from October for the quarter. We don’t pretend to project if it’s going to get worse or better. So we’ve assumed that what we’ve seen already in the quarter is what we’re dealing with. It is just factual that hospitals have already started allocating and deferring to make sure that they have the products they need for the patients who need them the most.”
CONMED expects total 2024 sales between $1.3 billion and $1.305 billion, reflecting mid-single-digit growth.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 3Q24 | 3Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Trauma | $11.7 | $11.5 | $0.2 | 2% |
| Sports Medicine | $118.8 | $113.2 | $5.7 | 5% |
| Total | $130.5 | $124.7 | $5.9 | 4.7% |
| 9mo24 | 9mo23 | $ Chg | % Chg | |
|---|---|---|---|---|
| Trauma | $34.7 | $34.2 | $0.5 | 1.4% |
| Sports Medicine | $370.3 | $362.5 | $7.9 | 2.2% |
| Total | $405.0 | $396.7 | $8.3 | 2.1% |
Orthopedic Sales by Geography
| Region | 3Q24 | 3Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $49.7 | $46.2 | $3.5 | 7.5% |
| OUS | $80.8 | $78.4 | $2.4 | 3.1% |
| EMEA | $28.8 | $28.0 | $0.8 | 2.7% |
| APAC | $32.8 | $29.9 | $2.9 | 9.7% |
| ROW | $19.2 | $20.4 | ($1.2) | (6%) |
| Total | $130.5 | $124.7 | $5.9 | 4.7% |
| 9mo24 | 9mo23 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $156.0 | $147.5 | $8.5 | 5.7% |
| OUS | $249.0 | $249.1 | ($0.1) | (0%) |
| EMEA | $97.0 | $96.4 | $0.7 | 0.7% |
| APAC | $90.3 | $91.0 | ($0.7) | (0.8%) |
| ROW | $61.7 | $61.7 | ($0.0) | (0.1%) |
| Total | $405.0 | $396.6 | $8.4 | 2.1% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $316.7 | |
| Cost of Sales | $137.7 | 43.5% |
| Selling and Admin | $99.7 | 31.5% |
| R&D | $13.6 | 4.3% |
| Other | $16.7 | 5.3% |
| Net Earnings | $49.0 | 15.5% |
CONMED reported 3Q24 orthopedic sales of $130.5 million, up 4.7% compared to the third quarter of 2023. Year to date, the company generated $405 million in orthopedic sales, up 2.1% compared to the prior year.
The one-two punch of hurricanes Helene and Milton further stressed CONMED's existing supply chain issues, as it created...
CONMED reported 3Q24 orthopedic sales of $130.5 million, up 4.7% compared to the third quarter of 2023. Year to date, the company generated $405 million in orthopedic sales, up 2.1% compared to the prior year.
The one-two punch of hurricanes Helene and Milton further stressed CONMED’s existing supply chain issues, as it created slowdowns in the company’s Largo facility where many of its orthopedic products are manufactured.
Additionally, hurricane damage to Baxter’s North Carolina facility and the resulting IV fluid shortage are impacting orthopedic procedure volumes, especially arthroscopic procedures.
“Yes, we have seen that already,” said Pat Beyer, CONMED’s COO and incoming CEO. “We have captured that in our guidance. We’ve kind of assumed a status quo from October for the quarter. We don’t pretend to project if it’s going to get worse or better. So we’ve assumed that what we’ve seen already in the quarter is what we’re dealing with. It is just factual that hospitals have already started allocating and deferring to make sure that they have the products they need for the patients who need them the most.”
CONMED expects total 2024 sales between $1.3 billion and $1.305 billion, reflecting mid-single-digit growth.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 3Q24 | 3Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Trauma | $11.7 | $11.5 | $0.2 | 2% |
| Sports Medicine | $118.8 | $113.2 | $5.7 | 5% |
| Total | $130.5 | $124.7 | $5.9 | 4.7% |
| 9mo24 | 9mo23 | $ Chg | % Chg | |
|---|---|---|---|---|
| Trauma | $34.7 | $34.2 | $0.5 | 1.4% |
| Sports Medicine | $370.3 | $362.5 | $7.9 | 2.2% |
| Total | $405.0 | $396.7 | $8.3 | 2.1% |
Orthopedic Sales by Geography
| Region | 3Q24 | 3Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $49.7 | $46.2 | $3.5 | 7.5% |
| OUS | $80.8 | $78.4 | $2.4 | 3.1% |
| EMEA | $28.8 | $28.0 | $0.8 | 2.7% |
| APAC | $32.8 | $29.9 | $2.9 | 9.7% |
| ROW | $19.2 | $20.4 | ($1.2) | (6%) |
| Total | $130.5 | $124.7 | $5.9 | 4.7% |
| 9mo24 | 9mo23 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $156.0 | $147.5 | $8.5 | 5.7% |
| OUS | $249.0 | $249.1 | ($0.1) | (0%) |
| EMEA | $97.0 | $96.4 | $0.7 | 0.7% |
| APAC | $90.3 | $91.0 | ($0.7) | (0.8%) |
| ROW | $61.7 | $61.7 | ($0.0) | (0.1%) |
| Total | $405.0 | $396.6 | $8.4 | 2.1% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $316.7 | |
| Cost of Sales | $137.7 | 43.5% |
| Selling and Admin | $99.7 | 31.5% |
| R&D | $13.6 | 4.3% |
| Other | $16.7 | 5.3% |
| Net Earnings | $49.0 | 15.5% |
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
