NuVasive Earnings: Here’s Why the Stock is Up Now
NuVasive, Inc. (NASDAQ:NUVA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.29%.
NuVasive, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 30% to $0.26 in the quarter versus EPS of $0.20 in the year-earlier quarter.
Revenue: Rose 5.15% to $159.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: NuVasive, Inc. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.22. It beat the average revenue estimate of $157.44 million.
Quoting Management: Alex Lukianov, Chairman and Chief Executive Officer, said, “Results in the first quarter demonstrate solid execution against our multiyear plan and are in line with our expectations for annual performance in 2013. Several positive developments in the form of strong clinical data to support fusions for Degenerative Disc Disease, in conjunction with the ongoing formulation of new clinical guidelines have the potential to improve long term US spine market growth. And regardless of what U.S. market growth ultimately looks like, NuVasive has massive opportunities to drive sustainable top and bottom line growth globally. Our proven, share taking strategy of Superior Outcomes, Absolute Responsiveness, and Speed of Innovation will enable us to execute our plan for growth toward $1 billion in revenue with an improved profitability profile.”
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