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Electromed beats The Street in Q2 results

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Electromed (NYSE:ELMD) posted second-quarter results this week that beat the overall consensus on Wall Street.

The New Prague, Minnesota–based airway clearance maker reported profits of $838,000, or 10¢ per share, on sales of $10.2 million for the three months ended Dec. 31, 2021, for a sales growth of 7.92% compared with Q2 2021.

Earnings per share were 10¢, 3¢ ahead of The Street, where analysts were looking for sales of $9.7 million.

“I’m very pleased to report our second consecutive quarter of record revenue, driven by strong results in our flagship home care segment, with 14.2% growth in-home care revenue in the first six months of our fiscal year compared to the same period in the prior year. Despite difficult macroeconomic conditions and another surge in the COVID-19 pandemic, the team clearly executed at a high level, and we believe these results demonstrate the benefits of our strategic growth initiatives,”  CEO Kathleen Skarvan said in a news release.

Electromed did not provide a financial outlook for the remainder of the fiscal year.

Shares in ELMD were down 3.17% to $12.80 apiece at market open.

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