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.