Shares of Merit Medical Systems saw a significant increase in after-hours trading on Thursday, following the company’s impressive performance in the third quarter. The South Jordan, Utah-based healthcare technology firm reported higher earnings per share (EPS) and revenue, positioning itself for a promising future.
Stellar Financial Results
Merit Medical Systems recorded impressive third-quarter earnings per share of 44 cents on revenue amounting to $315.2 million. By comparison, in the same period last year, the company reported EPS of 27 cents on revenue totaling $287.1 million.
Optimistic Outlook for 2023
Displaying confidence in its continued success, Merit Medical has revised its earnings per share forecast for 2023 upwards. The company now expects EPS to range between $1.52 and $1.58, surpassing its earlier guidance of $1.30 to $1.39. Moreover, Merit Medical now anticipates sales to range between $1.242 billion and $1.251 billion, an increase from the previous estimate of $1.23 billion to $1.244 billion.
Adjusted Figures Display Promising Growth
When adjusting for certain factors, Merit Medical systems projects even stronger numbers for 2023. The company now anticipates adjusted EPS of $2.93 to $2.99, outperforming its earlier guidance of $2.81 to $2.92.
This positive performance showcases Merit Medical’s commitment to delivering innovative healthcare solutions and further solidifies its position as a leader in the industry.
TechBerry
Happy Galaxy
Forex Cyborg
Forex Fury
FXgoodway