Masimo Corporation MASI delivered adjusted earnings per share (EPS) of $1.80 in the fourth quarter of 2024, up 44% year over year. The figure beat the Zacks Consensus Estimate by 20.8%.
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The adjustments include acquired intangible asset amortization, and acquisitions, integrations, divestitures, and related costs, among others.
GAAP loss per share for the quarter was $6.52 (which included an impairment of goodwill and intangibles for Sound United) against the year-ago period’s EPS of 63 cents.
Full-year 2024 adjusted EPS was $4.40, up 16.1% from the comparable 2023 period. The metric topped the Zacks Consensus Estimate by 7.3%.
Masimo registered revenues of $600.7 million in the fourth quarter, up 9.4% year over year on a reported basis. The figure beat the Zacks Consensus Estimate by 0.8%.
The top line was aided by robust Healthcare and Non-healthcare revenues.
Per management, shipments of non-invasive technology boards and instruments, excluding handheld and fingertip pulse oximeters, totaled 65,000 in the fourth quarter of 2024.
Full-year 2024 revenues were $2.09 billion, reflecting a 2.3% increase from the comparable 2023 figure. The metric was in line with the Zacks Consensus Estimate.
Shares of this company gained nearly 6.2% in yesterday’s after-hours trading.
Masimo derives its revenues from two business sources — Healthcare and Non-healthcare.
Healthcare revenues in the fourth quarter totaled $368.5 million, indicating an uptick of 8.4% on a reported basis. At constant exchange rate (CER), revenues were $369.4 million, up 8.7% year over year. This compares to our projection of revenues of $372.5 million and $371.5 million, respectively, in the fourth quarter.
Within Masimo’s Healthcare segment, the consumable and service revenues saw strong growth, which was partially offset by a decline in capital equipment and other revenues. Within the consumable and service revenues, MASI delivered strong performance across its major product platforms, with pulse oximetry, CO-Oximetry and hemodynamics, capnography and gas and brain monitoring exceeding their respective growth targets.
Non-healthcare revenues in the fourth quarter amounted to $232.2 million, implying an uptick of 11.1% year over year on a reported basis. At CER, revenues were $231.5 million, up 10.7% year over year. This compares to our projections of revenues of $223.4 million and $221.4 million, respectively, in the fourth quarter.
Masimo Corporation price-consensus-eps-surprise-chart | Masimo Corporation Quote
