Enovis Corporation · NYSE:ENOV
Enovis — Q3 2024 Earnings Presentation
19 slides from Enovis's earnings presentation, Nov 6, 2024
Slide 1: Third Quarter 2024 Results
Third Quarter 2024 Results November 6th, 2024
Slide 2: Forward-looking Statements Non-GAAP Financial Information
Forward-looking Statements Non-GAAP Financial Information This presentation includes forward-looking statements, including forward-looking statements Enovis has provided in this presentation financial information that has not been prepared in accordance with within the meaning of the U.S. Private Se
Slide 3: Q3 2024 Highlights
Q3 2024 Highlights • +21% reported growth, +6% on a comparable basis (+5% xfx) • +9% comparable growth in Recon • +3% comparable growth in P&R • Lima integration tracking to plan • Cross-selling opportunities advancing • Executing against identified cost synergies • Expanded adjusted EBITDA margin b
Slide 4: Q3 Reconstructive Segment Sales Performance
Q3 Reconstructive Segment Sales Performance Reconstructive Q3 Sales • Combined performance tracking in line with plan • +9% Recon growth on a comparable basis Growth: +57% Y/Y, +9% Comparable • ~1.5% negative growth impact from integration headwinds • US comparable growth of 9% • US channel integrat
Slide 5: Q3 Prevention & Recovery Segment Sales Performance
Q3 Prevention & Recovery Segment Sales Performance P&R Q3 Sales • Comparable growth of 3% Growth: +1% Y/Y, +3% Comparable • Global Bracing growth of LSD • Stable market environment • Diverse set of products and channels Recovery Sciences Q3 ‘24 Bracing Sales • Growing momentum for new bracing $274mm
Slide 6: P&L Performance
P&L Performance • +21% sales growth as reported, +6% comparable millions Q3 2023 Q3 2024 (+5% xfx) Net Sales $418 $505 • Adjusted gross margin expansion of +70bps driven by product mix/Lima and EGX business system Adj. Gross Profit $243 $298 Margin 58.2% 58.9% • Solid cost control offset by continue
Slide 7: Full Year 2024 Outlook
Full Year 2024 Outlook February May August November Guidance Considerations • Represents 5-5.5% comparable growth Reported Revenue $2.05-$2.15B $2.06-$2.16B $2.08-$2.13B ~$2.10B • ~HSD comparable Recon growth • P&R stable, excluding divestiture aEBITDA $365-$380mm $368-$383mm $368-$383mm $373-$378mm
Slide 8: Summary
Summary • Solid YTD performance against 2024 Strategic Goals • Lima integration milestones on track, exciting momentum building globally • Underlying growth fundamentals in position to accelerate in 2025 behind new product launches • Narrowing 2024 Revenue and adjusted EBITDA outlook, and raising ad
Slide 9: Appendix
Appendix enovis. Creating Better Together” 4
Slide 10: QTD Comparable Sales
QTD Comparable Sales © 2024 Enovis Corporation
Slide 11: QTD Adjusted EPS Reconciliation
QTD Adjusted EPS Reconciliation © 2024 Enovis Corporation
Slide 12: QTD Adjusted EBITDA Reconciliation
QTD Adjusted EBITDA Reconciliation © 2024 Enovis Corporation
Slide 13: QTD Adjusted Gross Margin Reconciliation
QTD Adjusted Gross Margin Reconciliation © 2024 Enovis Corporation
Slide 14: Q3'24 GAAP to Adjusted Non-GAAP Financial Measures
Q3’24 GAAP to Adjusted Non-GAAP Financial Measures © 2024 Enovis Corporation
Slide 15: Q3'23 GAAP to Adjusted Non-GAAP Financial Measures
Q3’23 GAAP to Adjusted Non-GAAP Financial Measures © 2024 Enovis Corporation
Slide 16: YTD Q3'24 GAAP to Adjusted Non-GAAP Financial Measures
YTD Q3’24 GAAP to Adjusted Non-GAAP Financial Measures © 2024 Enovis Corporation
Slide 17: YTD Q3'23 GAAP to Adjusted Non-GAAP Financial Measures
YTD Q3’23 GAAP to Adjusted Non-GAAP Financial Measures © 2024 Enovis Corporation
Slide 18: Selected Historical Financial Information With Lima – Q324
Selected Historical Financial Information With Lima – Q324 3-months ended 9/27/2024 (Unaudited: $ in millions) A B C D = (A + B + C) E F G H = (D + E + F + G) ENOV (1) Divestiture / Comparable LIMA Other M&A Legacy ENOV LIMA Other M&A FX Impact 10-Q - Reported Exited Business Combined 27-Sep 27-Sep
Slide 19: enovis. Creating Better Together
enovis. Creating Better Together”