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Enovis Reports Strong Fourth Quarter and Full Year 2024 Results, Sets Positive Outlook for 2025

Marcus LeeWednesday, Feb 26, 2025 6:11 am ET
2min read

Enovis™ Corporation (NYSE: ENOV), an innovation-driven medical technology growth company, recently announced its financial results for the fourth quarter and full year ended December 31, 2024. The Company reported strong commercial momentum, with fourth-quarter net sales growing 23% on a reported basis and 6% (+7% xFx) on a Comparable Sales basis from the same quarter in 2023. This growth reflects robust performance in the Global Reconstructive segment, including the acquisition of Lima, and stable execution in the Prevention & Recovery segment.



Key highlights from the fourth quarter and full year 2024 include:

* Fourth-quarter net sales of $561 million, up 23% on a reported basis and 6% on a Comparable Sales basis.
* Fourth-quarter Reconstructive sales grew 59% year-over-year on a reported basis and 10% on a Comparable Sales basis.
* Full-year 2024 net sales of $2.1 billion, up 23% on a reported basis and 6% on a Comparable Sales basis.
* Net sales in Recon grew 60% on a reported basis with 9% Comparable Sales growth, and P&R grew 2% on a reported basis and 3% on a Comparable Sales basis.

Enovis also reported a net loss from continuing operations of $704 million, or a loss of 125% of sales on a reported basis, in the fourth quarter. This loss included a non-cash goodwill impairment charge of $645 million related to a sustained decline in the Company's stock price and market capitalization relative to the carrying value of its Recon and P&R reporting units. Despite this impairment charge, Enovis reported adjusted EBITDA of $113 million, or 20% of sales on a reported basis, an increase of 210 basis points versus the comparable prior-year quarter.

For the full year 2024, Enovis reported a net loss from continuing operations of $827 million and adjusted EBITDA of $377 million, or 18% of sales, an increase of 210 basis points versus 2023. The Company reported a net loss from continuing operations of $14.98 per share and adjusted diluted earnings per diluted share of $2.84.

Enovis' CEO, Matt Trerotola, stated, "Our performance in 2024 marks a transformational year for the Company as we executed our integration plans and solidified our ability to deliver sustainable high-single-digit organic growth and year-over-year margin expansion. Our strong finish in 2024 has set a solid foundation for 2025 with key new product launches positioned to drive above market growth rates."

Enovis also announced financial expectations for 2025, including:

* Revenue of approximately $2.19-2.22 billion, incorporating 6-6.5% organic revenue growth.
* Adjusted EBITDA of $405-415 million, representing 60-70 basis points expansion year-over-year.
* Full-year adjusted earnings per share of $3.10-$3.25.

In addition, Enovis announced a planned CEO succession process, with Matt Trerotola retiring upon the appointment of his successor. The Company will address this transition during its fourth quarter and full-year 2024 financial results conference call.

In conclusion, Enovis' strong fourth-quarter and full-year 2024 results, coupled with its positive outlook for 2025, demonstrate the Company's ability to deliver sustainable growth and generate value for shareholders. Despite the non-cash goodwill impairment charge, Enovis' focus on organic growth, expanding adjusted EBITDA margins, and strategic product launches positions it well for future success.
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GrapeJuicex
02/26
CEO's dropping like flies but EPS looks solid. 🤔 Thinking of holding $ENOV for the long haul despite the shake-ups.
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sobfreak
02/26
CEO shuffle incoming. Wonder if new leadership will keep the growth trajectory. Trerotola leaves big shoes to fill.
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Very_Guilty_Lawyer
02/26
ENOVis' growth is fire, but that goodwill hit hurts. 📉 Still, their 2025 outlook is promising. Holding strong through the transition.
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Gurkaz_
02/26
@Very_Guilty_Lawyer How long you planning to hold ENOV? Got any targets in mind?
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highchillerdeluxe
02/26
ENOVis to the moon or just the stratosphere?
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DaddyLungLegs
02/26
CEO's dropping like flies but ENOVis keeps cruising. Who's their next big boss? 🤔
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MyNi_Redux
02/26
@DaddyLungLegs Yessir
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Ironman650
02/26
Net loss from continuing ops looks ugly, but adjusted EBITDA is reassuring. ENOVis has potential, just need to watch the stock closely.
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GJohannes37
02/26
Strong finish 2024, bullish on 2025. New CEO might shake things up, but current growth path looks sustainable. 📈
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michael_curdt
02/26
$ENOV's adjusted EPS $3.10-$3.25 range is attractive. Betting on their margin expansion to drive value. Long-term play here.
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TheOSU87
02/26
@michael_curdt How long you planning to hold ENOV? Curious if you're thinking years or just riding the trend for now.
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Paper_Coin
02/26
6-6.5% growth? Steady climb, not a sprint.
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Direct_Name_2996
02/26
@Paper_Coin 6% ain't bad, but feels safe.
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BeeBaBoop
02/26
@Paper_Coin Growth steady, but is it enough?
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anonymus431
02/26
ENOVis' 2024 numbers are impressive. I'm in for the long game, watching how they navigate the leadership change closely.
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gameon-manhattan
02/26
Holding $ENOV long-term, betting on 2025 surge.
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infinitycurvature
02/26
$ENOV setting the bar high for 2025. Will they keep the momentum? Solid EBITDA margins give me confidence. 🤞
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No-Sandwich-5467
02/26
$ENOV's growth is solid, but that goodwill hit hurts. Long-term hold for me, despite the bumps.
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crentony
02/26
CEO exit strategy? Time for new leadership vibes.
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Airmang74
02/26
Lima acquisition paying off! Reconstructive segment's growth is wild. Curious if they'll keep snagging up promising companies.
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