Globus Medical (NYSE:GMED) reported second-quarter results that beat the overall consensus on Wall Street.
The Audubon, Pennsylvania-based musculoskeletal device company reported profits of $54.6 million, or 53¢ per share, on sales of $263.6 million for the three months ended June 30, for a bottom-line gain of 31.4% on sales growth of 5.03% compared with Q2 2021.
Adjusted to exclude one-time items, earnings per share were 56¢, 3¢ ahead of The Street, where analysts were looking for sales of $259.39 million.
“Our second quarter record sales grew 6.5% on a constant currency basis and accelerated from last quarter as we continue to make market share gains, despite headwinds of a difficult prior year comparative and unfavorable foreign currency fluctuations,” President and CEO Dan Scavilla said in a news release.
“Our Enabling Technologies business had a record-breaking quarter, increasing 41.7% to $29.4 million, driven by strong robotic systems deman…