WILMINGTON, DE — Enovis™ Corporation (NYSE: ENOV) has released its financial results for the third quarter of 2024, showcasing a robust performance driven by significant sales growth and strategic integration efforts. The company reported net sales of $505 million, marking a 21% increase on a reported basis compared to the same period last year. This growth was supported by a substantial 57% rise in reconstructive sales.
The third quarter results also highlighted an adjusted EBITDA of $90 million, representing 17.9% of sales—a notable improvement of 220 basis points from the previous year. Despite a reported net loss from continuing operations of $34 million, or $0.61 per share, the adjusted earnings per diluted share rose to $0.73, up 30% year-over-year.
CEO Matt Trerotola commented on the company’s performance, stating, “Our performance this quarter reflects the significant progress of our integration efforts and represents a return to above market growth rates in Recon.” He emphasized the company’s strong finish for 2024 and its preparation for future growth, driven by new product introductions.
Looking ahead, Enovis has revised its financial outlook for the year. The company now expects full-year revenue to reach $2.10 billion, with adjusted EBITDA projected between $373 million and $378 million. Adjusted earnings per diluted share guidance has been increased to a range of $2.75 to $2.80, reflecting confidence in the company’s ongoing growth strategy.
With a focus on innovation and market expansion, Enovis is well-positioned to continue its upward trajectory into 2025, aiming to leverage its recent acquisitions and new product launches across its business sectors.
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