CONMED Reports Record 2023 Revenue Despite EPS Shortfall

Company anticipates sustained growth in 2024, with expected revenue between $1.340 billion and $1.365 billion.

CONMED Corporation reported record revenue growth for 2023, with sales reaching an all-time high of $1.245 billion, indicating a 19% year-over-year increase.
The company's Q4 earnings per share (EPS) fell short of expectations, with adjusted diluted net earnings per share at $1.06, below the anticipated $1.11.
Despite the EPS shortfall, the company demonstrated balanced growth across its Domestic and International, General Surgery and Orthopedics, and Single Use and Capital segments.
Acquisitions made in 2022 performed well, with In2Bones (now known as CONMED Foot and Ankle) delivering double-digit growth.
CONMED anticipates sustained top-line growth and leveraged earnings growth, driven by clinically differentiated solutions, and expects full-year 2024 reported revenue between $1.340 billion and $1.365 billion, and adjusted diluted net earnings in the range of $4.30 to $4.40 per share.