- Avanos Medical press release (NYSE:AVNS): Q3 Non-GAAP EPS of $0.38 beats by $0.03.
- Revenue of $202M (+9.7% Y/Y) misses by $3.47M.
- Adjusted gross margin was 56 percent, compared to 52 percent last year.
- Free cash flow for the quarter was $23M, compared to $18M a year ago.
- On an adjusted basis, operating profit totaled $27M, compared to $17M a year ago.
- Adjusted EBITDA for the third quarter was $33M, compared to $22M in the prior year period.
The company affirms its guidance for 2022 net sales to between $815 million and $835 million vs. consensus of $824.62M, which assumes organic growth of between 1 percent to 4 percent. Additionally, we are confirming full-year gross profit margins to be between 55 percent to 57 percent, with adjusted diluted earnings per share between $1.45 and $1.65 vs. consensus of $1.52.