NYSE$GMED
Globus Medical Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Globus Medical achieved record revenue and earnings growth in Q1 2023, driven by strong performance in both U.S. and international markets and advancements in enabling technologies.
Globus Medical reported a strong first quarter in 2023, with a 20% increase in worldwide net sales to $276.7 million. GAAP net income increased by 29% to $49.1 million, and non-GAAP diluted EPS rose by 25% to $0.53. The company reaffirmed its full-year 2023 guidance of $1.1 billion in net sales and non-GAAP diluted EPS of $2.30.
- Worldwide net sales increased by 20% to $276.7 million, or 21% on a constant currency basis.
- U.S. Spine business grew by 14%, with gains across expandables, biologics, MIS screws, and 3D printed implants.
- Enabling Technologies grew 91% to $25 million, driven by robotic system demand and interest in the Excelsius3D™ imaging system.
- GAAP diluted earnings per share was $0.48, and non-GAAP diluted EPS was $0.53, a 25% increase.
Headline financials
Revenue & EPS history
Globus Medical · Revenue · Quarterly
$277M
Revenue by segment
Globus Medical · $277M total across 2 segments · Q1 2023
- Musculoskeletal Solutions$252M+15.7%90.9%
- Enabling Technologies$25.1M+90.8%9.1%
Forward guidance
The Company today reaffirmed its full year 2023 guidance of $1.1 billion in net sales and non-GAAP diluted earnings per share of $2.30.
Tailwinds
- Reaffirmed full year 2023 net sales guidance of $1.1 billion.
- Reaffirmed full year 2023 non-GAAP diluted earnings per share of $2.30.
- Strong growth in U.S. Spine business.
- Significant increase in International Spine sales.
- Enabling Technologies revenue driven by robotic system demand.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.8%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+0.9%
Avg return
30 days after
57%
34 / 60 earnings
Positive
+36.0%
Q3 2025
Best reaction
-23.0%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.1% | -14.6% | -10.4% | |
| Q4 2025 | +4.6% | +2.1% | -8.8% | |
| Q3 2025 | +36.0% | +37.3% | +47.6% | |
| Q1 2025 | -23.0% | -19.7% | -17.3% | |
| Q4 2024 | -4.6% | -4.9% | -12.5% | |
| Q3 2024 | +10.7% | +8.2% | +11.2% | |
| Q2 2024 | +4.0% | +8.0% | +4.4% | |
| Q1 2024 | +22.8% | +28.7% | +31.6% | |
| Q4 2023 | +2.2% | +4.6% | -3.1% | |
| Q3 2023 | -1.4% | -5.1% | -2.5% | |
| Q2 2023 | -5.0% | -4.8% | -9.1% | |
| Q1 2023 | +2.9% | -0.3% | -1.8% | |
| Q4 2022 | -1.2% | -21.9% | -29.2% | |
| Q3 2022 | -4.2% | +9.4% | +11.5% | |
| Q2 2022 | +5.4% | +6.9% | -2.4% | |
| Q1 2022 | +0.1% | +5.2% | +0.1% | |
| Q4 2021 | -3.1% | -3.7% | +1.3% | |
| Q3 2021 | +0.2% | -4.3% | -19.4% | |
| Q2 2021 | -3.3% | -3.0% | +1.3% | |
| Q1 2021 | +3.1% | +3.0% | -0.9% | |
| Q4 2020 | -5.7% | -5.2% | -10.2% | |
| Q3 2020 | +2.4% | +3.5% | +16.9% | |
| Q2 2020 | +18.5% | +13.4% | +13.3% | |
| Q1 2020 | +8.1% | +0.6% | +21.4% | |
| Q4 2019 | -2.1% | -9.7% | -29.0% | |
| Q3 2019 | +3.6% | +4.2% | +8.2% | |
| Q2 2019 | +9.9% | +6.1% | +12.0% | |
| Q1 2019 | -1.9% | -2.0% | -11.0% | |
| Q4 2018 | +0.2% | -2.2% | -0.3% | |
| Q3 2018 | -8.7% | -9.9% | -19.4% | |
| Q2 2018 | +4.7% | +1.7% | +3.5% | |
| Q1 2018 | -3.4% | +0.7% | +12.6% | |
| Q4 2017 | +0.5% | -1.8% | +2.2% | |
| Q3 2017 | +9.8% | +19.7% | +24.3% | |
| Q2 2017 | -5.2% | -3.7% | -1.7% | |
| Q1 2017 | +4.9% | +1.0% | +4.7% | |
| Q4 2016 | -3.1% | -2.1% | +2.5% | |
| Q3 2016 | -5.6% | -4.9% | +7.1% | |
| Q2 2016 | -14.3% | -11.7% | -13.1% | |
| Q1 2016 | -9.4% | — | — | |
| Q4 2015 | +4.2% | — | — | |
| Q3 2015 | +12.3% | — | — | |
| Q2 2015 | +2.5% | — | — | |
| Q1 2015 | +4.8% | — | — | |
| Q4 2014 | -0.9% | — | — | |
| Q3 2014 | +7.0% | — | — | |
| Q2 2014 | -16.8% | — | — | |
| Q1 2014 | +6.1% | — | — | |
| Q4 2013 | +1.4% | — | — | |
| Q3 2013 | +7.1% | — | — | |
| Q2 2013 | +2.3% | — | — | |
| Q1 2013 | +7.9% | — | — | |
| Q1 2011 | +0.4% | — | — | |
| Q4 2010 | +0.4% | — | — | |
| Q4 2012 | +5.8% | — | — | |
| Q3 2011 | -20.7% | — | — | |
| Q3 2012 | -16.2% | — | — | |
| Q4 2011 | -0.7% | — | — | |
| Q2 2011 | -0.7% | — | — | |
| Q2 2012 | +0.0% | — | — | |
| Q1 2012 | — | — | — |
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