Enovis (NYSE: ENOV) today reported Q2 results that beat The Street on earnings but missed on revenue, with the ortho device company joining the host of medtech companies scaling back earnings projections for the year amid macroeconomic headwinds.
Wilmington, Delaware–based Enovis — the parent company of DJO — earned $121 million, or $2.21 per diluted share, off $395 million in sales for the three months ended July 1, 2022, more than doubling its earnings and growing the top line 11% compared with Q2 2021.
Adjusted to exclude one-time items, Enovis saw earnings per share of 59¢, 9¢ ahead of The Street, where analysts expected sales of $400.97 million.
“We again achieved faster growth than our markets this quarter in both of our business segments,” Enovis CEO Matt Trerotola said ina. news release. “We are executing our strategic priorities, investing in innovation and acquisitions to support our goal to achieve a sustainable high-single-digit organic growt…