Healthcare
Medical Devices
$42.94B
19.8K
Key insights and themes extracted from this filing
The company's net sales for the three months ended September 30, 2024, were $1.35 billion, an 8.9% increase compared to the same period in 2023. This growth was primarily driven by increased sales in the TAVR and TMTT product lines.
While gross profit increased, the gross profit margin as a percentage of sales decreased due to foreign currency rate fluctuations, including the settlement of foreign currency hedging contracts. For the nine months ended September 30, 2024, the gross profit margin was impacted by 0.8 percentage points.
Net income for the three months ended September 30, 2024, was $3.07 billion, a substantial increase from $383.7 million in 2023, primarily due to income from discontinued operations, which included a gain of $3.3 billion from the sale of the Critical Care product group.