Q1 2025 Enovis Corp Earnings Call Transcript
Key Points
- Enovis Corp (ENOV) reported an 8% growth in sales for Q1 2025, with a 10% increase on a constant currency basis.
- The company achieved a 13% growth in its Recon business, with double-digit growth in both hip and knee segments.
- Adjusted EBITDA margins improved by 160 basis points, driven by favorable segment and product mix.
- The company launched several new products, including the augmented reverse glenoid system in shoulders and the nebula stem in hips, contributing to growth.
- Enovis Corp (ENOV) maintained a strong international performance, with a 14% growth outside the US, showcasing the strength of its global position.
- The company faces a $40 million tariff exposure for 2025, with plans to mitigate it to $20 million, impacting profitability.
- Enovis Corp (ENOV) lowered its adjusted EBITDA guidance by $20 million due to expected tariff impacts in the second half of 2025.
- The effective tax rate increased by 70 basis points compared to the previous year.
- Interest expense for the quarter was $9 million, although reduced from $20 million in 2024.
- The company anticipates a slight downward trend in pricing within the Recon market, which could affect future margins.
Hello everyone and welcome to the Enovis Corporation Q1 2025 results call. My name is Ezra, and I will be your coordinator today. (Operator Instructions)
I will now hand you over to your host, Kyle Rose, Vice President of Investor Relations, to begin. Please go ahead.
Thank you, Ezra. Good morning, everyone, and thank you for joining us today for our first-quarter 2025 results conference call. I'm Kyle Rose, Vice President of Investor Relations. Joining me on the call today are Matt Trerotola, Chair and Chief Executive Officer; and Ben Berry, Chief Financial Officer. Our earnings release was issued earlier this morning and is available in the investor section of our website, enovis.com. We will be using a slide presentation in today's call, which can also be found on our website. Both the audio and the slide presentation will be archived on the website later today.
During this call, we'll be making some forward-looking statements about our beliefs and estimates regarding future
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