CONMED Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>CONMED Corp filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial performance and business operations.</b>

AI Summary

CONMED Corp (CNMD) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. CONMED Corp filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business is in Electromedical & Electrotherapeutic Apparatus. CONMED Corp is incorporated in Delaware. The filing was made on April 25, 2024.

Why It Matters

For investors and stakeholders tracking CONMED Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest financial data for CONMED Corp, crucial for assessing the company's performance in the first quarter of 2024. Understanding the details within this report is essential for stakeholders to evaluate the company's financial health, operational status, and future prospects in the electromedical apparatus industry.

Risk Assessment

Risk Level: low — CONMED Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand CONMED Corp's Q1 2024 results and identify any emerging trends.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-04-25 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Reporting period start date)
• 2023-01-01 — Prior Year Quarter Start Date (Prior year period start date)

Key Players & Entities

• CONMED Corp (company) — CONFORMED NAME
• 3845 (category) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (location) — STATE OF INCORPORATION
• LARGO (location) — CITY
• FL (location) — STATE
• 727-214-2974 (phone) — BUSINESS PHONE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-04-25 (date) — FILED AS OF DATE

FAQ

Industry Context

CONMED Corp operates in the Electromedical & Electrotherapeutic Apparatus industry, which involves the development, manufacturing, and marketing of medical devices.

Regulatory Implications

The filing is a Form 10-Q, a mandatory quarterly report filed by public companies with the U.S. Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze CONMED Corp's revenue and net income trends for Q1 2024.
2. Examine segment performance, particularly in Orthopedic Surgery and General Surgery.
3. Review any disclosed risk factors or management discussion and analysis for insights into operational challenges or opportunities.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-25: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending March 31, 2024. Comparative data from previous filings will be needed for a full 'vs last filing' analysis.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value CNMD NYSE Indicate by check

Filing Documents

• cnmd-20240331.htm (10-Q) — 928KB
• cnmd33124ex311.htm (EX-31.1) — 10KB
• cnmd33124ex312.htm (EX-31.2) — 11KB
• cnmd33124ex321.htm (EX-32.1) — 8KB
• 0000816956-24-000006.txt (&nbsp;) — 5857KB
• cnmd-20240331.xsd (EX-101.SCH) — 31KB
• cnmd-20240331_cal.xml (EX-101.CAL) — 57KB
• cnmd-20240331_def.xml (EX-101.DEF) — 148KB
• cnmd-20240331_lab.xml (EX-101.LAB) — 513KB
• cnmd-20240331_pre.xml (EX-101.PRE) — 342KB
• cnmd-20240331_htm.xml (XML) — 960KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION Item Number Page Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) – Consolidated Condensed Statements of Comprehensive Income for the three months ended March 31, 2024 and 2023 1 – Consolidated Condensed Balance Sheets as of March 31, 2024 and December 31, 2023 2 – Consolidated Condensed Statements of Shareholders' Equity for the three months ended March 31, 2024 and 2023 3 – Consolidated Condensed Statements of Cash Flows for the three months ended March 31, 2024 and 2023 4 – Notes to Consolidated Condensed Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 26 Item 5. Other Information 26 Item 6. Exhibits 27

Signatures

Signatures 28 Table of Contents

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION Item 1. CONMED CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited, in thousands except per share amounts) Three Months Ended March 31, 2024 2023 Net sales $ 312,273 $ 295,468 Cost of sales 140,308 140,147 Gross profit 171,965 155,321 Selling and administrative expense 123,358 130,083 Research and development expense 13,594 12,539 Operating expenses 136,952 142,622 Income from operations 35,013 12,699 Interest expense 9,594 10,255 Income before income taxes 25,419 2,444 Provision for income taxes 5,710 625 Net income $ 19,709 $ 1,819 Comprehensive income $ 20,078 $ 4,695 Per share data: Net income Basic $ 0.64 $ 0.06 Diluted 0.63 0.06 Weighted average common shares Basic 30,780 30,511 Diluted 31,272 31,204 See notes to consolidated condensed financial statements. 1 Table of Contents CONMED CORPORATION CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited, in thousands except share and per share amounts) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 33,855 $ 24,296 Accounts receivable, net 241,461 242,279 Inventories 322,298 318,324 Prepaid expenses and other current assets 38,110 30,750 Total current assets 635,724 615,649 Property, plant and equipment, net 117,951 120,722 Goodwill 806,276 806,844 Other intangible assets, net 641,310 649,484 Other assets 107,994 107,322 Total assets $ 2,309,255 $ 2,300,021 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $ 692 $ 708 Accounts payable 101,635 88,224 Accrued compensation and benefits 49,931 70,069 Other current liabilities 139,146 151,728 Total current liabilities 291,404 310,729 Long-term debt 990,110 973,140 Deferred income taxes 64,002 60,902 Other long-term liabilities 109,075 121,028 Total liabilities 1,454,591 1,465,799 Commitments and contingencies Shareholders' equity: Preferred stock, par va

View Full Filing

View this 10-Q filing on SEC EDGAR