Healthcare
Medical Instruments & Supplies
$64.79B
74K
Key insights and themes extracted from this filing
Q3 2024 revenues increased by 2.3% year-over-year to $4.990 billion, with a 4.9% increase from volume/other, partially offset by a 0.9% decrease from the sale of the Surgical Instrumentation platform, a 0.3% increase from pricing, and a 0.6% decrease from foreign currency translation, and a 1.4% decrease from acquisitions and other.
Gross profit margin increased to 46.2% in Q3 2024, compared to 43.1% in Q3 2023, primarily due to a favorable comparison to specified items recorded in the prior-year period, which included a $90 million charge, and lower manufacturing costs.
Selling and administrative expenses decreased to 24.0% of revenues in Q3 2024 compared to 24.4% in Q3 2023, and research and development expenses decreased to 6.0% of revenues in Q3 2024 compared to 6.3% in Q3 2023.