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Home » NuVasive beats The Street with Q2 results

NuVasive beats The Street with Q2 results

July 30, 2019 By Chris Newmarker

NuVasive (NSDQ:NUVA) posted second-quarter results this evening that beat the consensus forecast on Wall Street, and increased its guidance for adjusted earnings per share for the full year.

The San Diego–based spine technology company reported profits of $15.0 million, or $0.29 per share, on sales of $292.1 million for the three months ended June 30, for a bottom-line gain of 30.4% and sales growth of 3.7% compared with Q2 2018.

Adjusted to exclude one-time items, earnings per share were $0.63, 7¢ ahead of The Street, where analysts were looking for sales of $290.59 million.

NuVasive CEO J. Christopher Barry said the company saw consistent revenue growth in its Q2, including a solid performance from the company’s U.S. hardware business.

“We saw meaningful case volume growth driven by increased surgeon adoption of lateral single-position surgery and NuVasive’s innovative X360 system,” Barry said.

NuVasive said it expects to log adjusted EPS of $2.25 – $2.35 this year,  up from prior guidance of $2.20 – $2.30. 

Investors reacted by sending NUVA shares up 6.8% to $64.10 apiece in initial after-hours trading today.

Filed Under: Business/Financial News, Featured, News Well, Orthopedics, Spine, Wall Street Beat Tagged With: Nuvasive

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About Chris Newmarker

Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at [email protected].

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