AVNS - Avanos Medical misses Q2 top and bottom line estimates; updates FY23 outlook
2023-08-09 07:32:29 ET
- Avanos Medical press release ( NYSE: AVNS ): Q2 Non-GAAP EPS of $0.24 misses by $0.06 .
- Revenue of $169.4M (-0.9% Y/Y) misses by $16.9M .
- Adjusted EBITDA from continuing operations for the six months ended June 30, 2023 was $39.0 million, compared to $31.8 million in the prior year period.
- Outlook: For the second half of 2023, the Company anticipates low single-digit organic growth, adjusted gross margins greater than 59% and adjusted diluted earnings per share from continuing operations of between $1.05 and $1.15 for the year vs. consensus of $1.53.
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Avanos Medical misses Q2 top and bottom line estimates; updates FY23 outlook