OrthoPediatrics (NSDQ:KIDS) this week posted second-quarter results that beat the overall consensus on Wall Street.
The Warsaw, Indiana-based company reported losses of $333,000, or -2¢ per share, on sales of $32.9 million, for the three months ended June 30, for a sales growth of 23.35% compared with Q2 2021.
Adjusted to exclude one-time items, earnings per share were -17¢, 1¢ ahead of The Street, where analysts were looking for sales of $32.4 million.
“I am extremely proud of the entire OP team for what we’ve been able to accomplish in the first half of 2022. As the operating environment continues to normalize and backlog cases are rescheduled, we have a high degree of confidence in our ability to generate greater than 20% revenue growth, excluding our recent acquisitions, and greater than 30% total revenue growth in 2022,” President and CEO David Bailey said in a news release. “We also believe the competitive strength of our business was enhanced in the first half of 2022 with the addition of MD Ortho and Pega Medical. As a company, we will continue to make investments that create greater distance from competitors and ensure our long-term success as the market leader in pediatric orthopedics.”
OrthoPediatrics is raising its full-year 2022 revenue guidance to be in the range of $127 million to $130 million, from its previous range of $125 million to $128 million, to represent a growth of 30% to 33%. The company expects roughly $6 million of revenue contribution from its MD Orthopedics acquisition and $3 million from its Pega Medical acquisition.
Shares in KIDS were at a standstill in premarket hours.