Reported Earnings • May 07
First quarter 2026 earnings released: EPS: US$0.11 (vs US$0.14 in 1Q 2025) First quarter 2026 results: EPS: US$0.11 (down from US$0.14 in 1Q 2025). Revenue: US$182.2m (up 8.8% from 1Q 2025). Net income: US$5.10m (down 23% from 1Q 2025). Profit margin: 2.8% (down from 3.9% in 1Q 2025). Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Announcement • Apr 16
American Industrial Partners Capital Fund VIII, L.P. and AIP, LLC signed a definitive agreement to acquire Avanos Medical, Inc. (NYSE:AVNS) for $1.2 billion. American Industrial Partners Capital Fund VIII, L.P. and AIP, LLC signed a definitive agreement to acquire Avanos Medical, Inc. (NYSE:AVNS) for $1.2 billion on April 13, 2026. A cash consideration of $20.36 million valued at $21.5 per share and of $1.21 billion valued at $25 per share will be paid by American Industrial Partners Capital Fund VIII, L.P. and AIP, LLC. As part of consideration, $25.07 million is paid towards RSU common equity, $1.18 billion is paid towards common equity and $20.36 million is paid towards options of Avanos Medical, Inc.
The transaction is subject to approval of merger agreement by target board, subject to antitrust regulations, approval by regulatory board and approval of offer by target shareholders. The expected completion of the transaction in the second half of 2026. On April 14, 2026, Avanos Medical, Inc. announced that it has postponed its 2026 Annual Meeting of Stockholders, which was previously scheduled for April 21, 2026, in light of the announcement of the transaction.
J.P. Morgan Securities LLC acted as financial advisor for Avanos Medical, Inc. Alston & Bird LLP acted as legal advisor for Avanos Medical, Inc. UBS Investment Bank acted as financial advisor for Avanos Medical, Inc. Justin A. Macke and Adam Cromie of Sidley Austin LLP acted as legal advisor for AIP, LLC. New Risk • Apr 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 21% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 65% per year over the past 5 years. Announcement • Mar 13
Avanos Medical, Inc., Annual General Meeting, Apr 21, 2026 Avanos Medical, Inc., Annual General Meeting, Apr 21, 2026. Location: 5405 wundward parkway, gerogia 30004, alpharetta United States Reported Earnings • Feb 24
Full year 2025 earnings released: US$1.58 loss per share (vs US$8.40 loss in FY 2024) Full year 2025 results: US$1.58 loss per share (improved from US$8.40 loss in FY 2024). Revenue: US$701.2m (up 1.9% from FY 2024). Net loss: US$72.9m (loss narrowed 81% from FY 2024). Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Announcement • Feb 24
Avanos Medical, Inc. Provides Earnings Guidance for the Year 2026 Avanos Medical, Inc. provided earnings guidance for the year 2026. For the year, The company expects 2026 net sales to be between $700 million and $720 million. Announcement • Feb 17
Avanos Medical, Inc. to Report Q4, 2025 Results on Feb 24, 2026 Avanos Medical, Inc. announced that they will report Q4, 2025 results Pre-Market on Feb 24, 2026 Recent Insider Transactions • Nov 20
Insider recently sold US$165k worth of stock On the 18th of November, Kerr Holbrook sold around 15k shares on-market at roughly US$11.00 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$388k more than they sold in the last 12 months. Reported Earnings • Nov 06
Third quarter 2025 earnings released: US$0.03 loss per share (vs US$0.13 profit in 3Q 2024) Third quarter 2025 results: US$0.03 loss per share (down from US$0.13 profit in 3Q 2024). Revenue: US$177.8m (up 4.3% from 3Q 2024). Net loss: US$1.40m (down 124% from profit in 3Q 2024). Revenue is forecast to stay flat during the next 2 years compared to a 8.4% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Announcement • Nov 05
Avanos Medical, Inc. Raises Earnings Guidance for the Year 2025 Avanos Medical, Inc. raised earnings guidance for the year 2025. For the year, the company raised revenue to between $690 million and $700 million. Announcement • Oct 27
Avanos Medical, Inc. to Report Q3, 2025 Results on Nov 05, 2025 Avanos Medical, Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 05, 2025 Announcement • Oct 24
Avanos Medical, Inc. Announces Board Changes, Effective December 1, 2025 On October 21, 2025, Avanos Medical, Inc. (the “Company”) eliminated the positions of Chief Commercial Officer and General Counsel, effective December 1, 2025, in connection with a broader organizational restructuring of the Company. The Company notified Kerr Holbrook, the Company’s Senior Vice President and Chief Commercial Officer, and Mojirade James, the Company’s Senior Vice President, General Counsel and Secretary, of the termination of their employment with the Company effective December 1, 2025 as a result of the elimination of their positions. The responsibilities previously associated with their roles will be allocated among other Company employees. Announcement • Sep 15
Avanos Medical, Inc. (NYSE:AVNS) acquired Nexus Medical, LLC. Avanos Medical, Inc. (NYSE:AVNS) acquired Nexus Medical, LLC on September 15, 2025. The acquisition was financed with available cash and is expected to be immediately accretive to revenue growth and earnings per share.
Avanos Medical, Inc. (NYSE:AVNS) completed the acquisition of Nexus Medical, LLC on September 15, 2025. Recent Insider Transactions • Aug 17
Independent Chairman recently bought US$659k worth of stock On the 13th of August, Gary Blackford bought around 60k shares on-market at roughly US$10.99 per share. This transaction amounted to 84% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Gary's only on-market trade for the last 12 months. Reported Earnings • Aug 05
Second quarter 2025 earnings released: US$1.66 loss per share (vs US$0.094 profit in 2Q 2024) Second quarter 2025 results: US$1.66 loss per share (down from US$0.094 profit in 2Q 2024). Revenue: US$175.0m (up 1.9% from 2Q 2024). Net loss: US$76.8m (down US$81.1m from profit in 2Q 2024). Revenue is forecast to stay flat during the next 2 years compared to a 8.2% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Announcement • Jul 24
Avanos Medical, Inc. to Report Q2, 2025 Results on Aug 05, 2025 Avanos Medical, Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 05, 2025 Announcement • Jun 10
Avanos Medical, Inc. Appoints Camille Chang Gilmore as Senior Vice President and Chief Human Resources Officer Avanos Medical, Inc. announced the appointment of Camille Chang Gilmore as senior vice president and chief human resources officer. In this role, Gilmore will lead all aspects of Avanos' people strategy, including talent acquisition and development, workforce planning, leadership development and employee experience. Her arrival reflects the company's continued commitment to building a workplace where every employee feels valued, respected and empowered to contribute their best. Gilmore's background includes key human resources and leadership roles at Boston Scientific, Guidant, the State of Oregon, the University of Illinois at Urbana-Champaign, and IBM. Most recently, she served as Boston Scientific's global chief diversity officer and vice president of human resources for the Interventional Cardiology division. Gilmore holds a bachelor's degree in business management from Pennsylvania State University and an MBA from the University of Illinois at Urbana-Champaign. Announcement • May 09
Avanos Medical, Inc. Provides Earnings Guidance for the Full Year 2025 Avanos Medical, Inc. provided earnings guidance for the full year 2025. for the year, the company expects revenue of between $665 million and $685 million and Diluted earnings per share (GAAP) in the range of $0.33 to $0.56. Reported Earnings • May 06
First quarter 2025 earnings released: EPS: US$0.14 (vs US$0.011 in 1Q 2024) First quarter 2025 results: EPS: US$0.14 (up from US$0.011 in 1Q 2024). Revenue: US$167.5m (flat on 1Q 2024). Net income: US$6.60m (up US$6.10m from 1Q 2024). Profit margin: 3.9% (up from 0.3% in 1Q 2024). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Announcement • Apr 28
Avanos Medical, Inc. to Report Q1, 2025 Results on May 06, 2025 Avanos Medical, Inc. announced that they will report Q1, 2025 results Pre-Market on May 06, 2025 Announcement • Mar 18
Avanos Medical, Inc. Appoints David Pacitti as Chief Executive Officer, Effective April 14, 2025 Avanos Medical, Inc. announced the appointment of David Pacitti as its new chief executive officer, effective April 14, 2025. Pacitti joins Avanos with a distinguished career in the healthcare sector, most recently serving as president of Siemens Medical Solutions USA, Inc. and Head of the Americas, Siemens Healthineers. In this capacity, he played a pivotal role in driving strategic growth and operational excellence while leading the marketing, sales, service, and support functions in North America and Latin America across the entire Siemens Healthineers portfolio, including medical imaging, laboratory diagnostics, therapy solutions, and services. Prior to joining Siemens Healthineers in 2015, Pacitti held several leadership roles at Abbott Vascular, including division vice president of U.S. commercial operations, sales and marketing, where he oversaw the company's North American business and played a pivotal role in key launches, including Abbott Vascular's first drug-eluting stent franchise and structural heart franchise. From 2009 to 2013, he served as vice president of commercial operations, and from 2006 to 2009, he was vice president of global marketing. Pacitti joined Abbott Vascular through its acquisition of Guidant Corp, where he held positions of increasing responsibility from 1995 to 2006. Pacitti serves as chair of the AdvaMed Medical Imaging Technology Division's board of directors and on the boards for Orchestra BioMed and the Siemens Foundation. He is also a member of the CEO Council for Growth at the Chamber of Commerce for Greater Philadelphia, the Children's Hospital of Philadelphia Corporate Council, the Medical University of South Carolina (MUSC) President's Advisory Group, and the NextGen Advisory Board for the University of Missouri. Pacitti holds a bachelor's degree from Villanova University and an MBA from the University of Maryland. Announcement • Mar 17
Avanos Medical, Inc., Annual General Meeting, Apr 24, 2025 Avanos Medical, Inc., Annual General Meeting, Apr 24, 2025. Location: 5405 windward parkway, georgia 30004, alpharetta United States Recent Insider Transactions • Mar 11
Senior VP & Chief Commercial Officer recently sold US$107k worth of stock On the 6th of March, Kerr Holbrook sold around 7k shares on-market at roughly US$15.25 per share. This transaction amounted to 8.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$260k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Mar 07
Senior VP & Chief Commercial Officer notifies of intention to sell stock Kerr Holbrook intends to sell 7k shares in the next 90 days after lodging an Intent To Sell Form on the 6th of March. If the sale is conducted around the recent share price of US$15.25, it would amount to US$107k. Since March 2024, Kerr has owned 86.13k shares directly. Company insiders have collectively sold US$574k more than they bought, via options and on-market transactions in the last 12 months. New Risk • Feb 26
New major risk - Revenue and earnings growth Earnings have declined by 32% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Feb 19
Avanos Medical, Inc. to Report Q4, 2024 Results on Feb 26, 2025 Avanos Medical, Inc. announced that they will report Q4, 2024 results Pre-Market on Feb 26, 2025 Announcement • Dec 04
Avanos Medical, Inc. Appoints Warren Machan as Interim Chief Financial Officer Avanos Medical, Inc. appointed Mr. Warren Machan as Interim Chief Financial Officer at the close of business on October 28, 2024. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.13 (vs US$0.19 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0.13 (up from US$0.19 loss in 3Q 2023). Revenue: US$170.4m (flat on 3Q 2023). Net income: US$5.90m (up US$14.7m from 3Q 2023). Profit margin: 3.5% (up from net loss in 3Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Oct 23
Avanos Medical, Inc. to Report Q3, 2024 Results on Oct 30, 2024 Avanos Medical, Inc. announced that they will report Q3, 2024 results Pre-Market on Oct 30, 2024 Price Target Changed • Aug 02
Price target increased by 8.5% to US$25.50 Up from US$23.50, the current price target is an average from 2 analysts. New target price is 6.2% above last closing price of US$24.01. Stock is down 0.8% over the past year. The company posted a net loss per share of US$0.21 last year. Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: US$0.094 (vs US$0.092 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.094 (up from US$0.092 loss in 2Q 2023). Revenue: US$171.7m (up 1.4% from 2Q 2023). Net income: US$4.30m (up US$8.60m from 2Q 2023). Profit margin: 2.5% (up from net loss in 2Q 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Jul 31
Avanos Medical, Inc. Provides Earnings Guidance for the Full Year 2024 Avanos Medical, Inc. provided earnings guidance for the full year 2024. for the year, the company anticipates revenue from continuing operations of between $685 million and $705 million from continuing operations. Announcement • Jul 01
Avanos Medical, Inc. Appoints Indrani Franchini to its Board of Directors Avanos Medical, Inc. announced that Indrani Franchini has been appointed as a new independent member of the Avanos board of directors. Most recently, Franchini served as Executive Vice President and Chief Legal Officer at Alnylam Pharmaceuticals. From June 2017 to July 2021, she served as Executive Vice President and Chief Compliance Officer at Alexion Pharmaceuticals, Inc., where she led a comprehensive transformation of the company's compliance program. Prior to that, Franchini held various roles in legal and compliance at Hess Corporation. She also spent nearly 10 years at Pfizer in various positions, including supporting the global pharmaceutical business. Upon graduating from law school, Franchini practiced law at Milbank LLP, where she spent six years working in the firm's New York and Tokyo offices. With this new appointment, the Avanos board now comprises six directors, five of whom are independent, including three women, two of whom are ethnically diverse. Announcement • May 15
Avanos Medical, Inc. Appoints Sigfrido (Sig) Delgado as Senior Vice President, Integrated Supply Chain Avanos Medical, Inc. announced that Sigfrido (Sig) Delgado has been appointed senior vice president, integrated supply chain. In this role, Delgado will lead the teams focused on implementing continuous improvements within the Company's end-to-end supply chain capabilities worldwide. Delgado joins Avanos from Jabil Healthcare, where he most recently served as vice president of its global medical technology business. His background includes more than 20 years in manufacturing, supply chain and operations within the medical device industry, including engineering and leadership roles at J&J, Ethicon and Cordis Corp. Delgado earned a bachelor's degree in mechanical engineering from Massachusetts Institute of Technology and a master's degree in engineering management from Florida International University. He is a certified Six Sigma Black Belt and is fluent in Spanish. Announcement • May 03
Avanos Medical, Inc. Provides Earnings Guidance for the Year 2024 Avanos Medical, Inc. provided earnings guidance for the year 2024. For the year, the Company anticipates revenue between $685 million and $705 million from continuing operations. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: US$0.011 (vs US$0.17 loss in 1Q 2023) First quarter 2024 results: EPS: US$0.011 (up from US$0.17 loss in 1Q 2023). Revenue: US$166.1m (up 4.3% from 1Q 2023). Net income: US$500.0k (up US$8.30m from 1Q 2023). Profit margin: 0.3% (up from net loss in 1Q 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Apr 27
Avanos Medical, Inc. to Report Q1, 2024 Results on May 02, 2024 Avanos Medical, Inc. announced that they will report Q1, 2024 results Pre-Market on May 02, 2024 Recent Insider Transactions Derivative • Mar 20
CEO & Director exercised options and sold US$302k worth of stock On the 18th of March, Joseph Woody exercised options to acquire 16k shares at no cost and sold these for an average price of US$19.09 per share. This trade did not impact their existing holding. For the year to December 2017, Joseph's total compensation was 14% salary and 86% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2023, Joseph's direct individual holding has increased from 117.24k shares to 156.69k. Company insiders have collectively sold US$574k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Mar 17
Senior VP recently sold US$153k worth of stock On the 14th of March, Michael Greiner sold around 8k shares on-market at roughly US$19.12 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Announcement • Mar 16
Avanos Medical, Inc., Annual General Meeting, Apr 25, 2024 Avanos Medical, Inc., Annual General Meeting, Apr 25, 2024, at 09:00 US Eastern Standard Time. Location: Avanos Medical, Inc, 5405 Windward Parkway Alpharetta Georgia United States Agenda: To elect as directors the five nominees named in the accompanying proxy statement for a one-year term; to ratify the appointment of Deloitte & Touche LLP as the Company’s independent auditors for 2024; to approve on an advisory basis the compensation of the Company’s named executive officers; and to take action upon any other business that may properly come before the meeting or any adjournment of the meeting. Announcement • Feb 22
Avanos Medical, Inc. Announces Voluntary Recall of Mic Gastric - Jejunal Feeding Tube Kits In direct response to the Nurse Assist, LLC voluntary recall of pre-filled syringes and other sterile water products, Avanos Medical, Inc. voluntarily recalled specific lots of MIC Gastric - Jejunal Feeding Tube Kits on January 16, 2024. These kits include Nurse Assist supplied syringes, pre-filled with sterile water, essential for inflating the retention balloon of the feeding tube. The Nurse Assist voluntary recall was initiated due to concerns about the potential lack of sterility assurance in these water-based products. This deficiency may lead to non-sterile products, posing a risk of the water coming into contact with a patient's surgical site. Any open wound exposed to non-sterile products could potentially put the patient at risk of infection. The pre-filled syringe is the only item in the Avanos feeding tube kit affected by the Nurse Assist recall. As of February 6, 2024, the FDA reported receiving adverse events associated with use of Nurse Assist products and is further evaluating this information. Avanos has not been directly contacted with any reported adverse events. Upon evaluating the impact of the Nurse Assist recall, Avanos has identified the affected MIC Gastric -Jejunal Feeding Tube Kit product codes and lot numbers. Customers receiving the listed lots are instructed to remove all affected kits from facilities and requested to take the following actions: Continue normal post-op care for any newly placed MIC GJ tube. Report any adverse events involving these products immediately. Check all storage facilities and warehouse locations for affected products and quarantine them. Complete the Customer Response Form. Destroy all affected lots in inventory. Notify other departments or customers of this recall. Announcement • Feb 21
Avanos Medical, Inc. Provides Earnings Guidance for 2024 Avanos Medical, Inc. provided earnings guidance for 2024. For the period, the company expects net sales to be between $685 and $705 million, which assumes organic growth between 3% to 6%, excluding the impact of the product portfolio rationalization under the Transformation Process. Reported Earnings • Feb 21
Full year 2023 earnings released: US$0.21 loss per share (vs US$1.08 profit in FY 2022) Full year 2023 results: US$0.21 loss per share (down from US$1.08 profit in FY 2022). Revenue: US$673.3m (down 18% from FY 2022). Net loss: US$9.90m (down 120% from profit in FY 2022). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Jan 05
Avanos Medical, Inc. to Report Q4, 2023 Results on Feb 20, 2024 Avanos Medical, Inc. announced that they will report Q4, 2023 results on Feb 20, 2024 Price Target Changed • Jan 04
Price target decreased by 8.9% to US$25.50 Down from US$28.00, the current price target is an average from 2 analysts. New target price is 42% above last closing price of US$17.97. Stock is down 33% over the past year. The company is forecast to post a net loss per share of US$1.71 compared to earnings per share of US$1.08 last year. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$21.20, the stock trades at a trailing P/E ratio of 55.5x. Average forward P/E is 29x in the Medical Equipment industry in the US. Total loss to shareholders of 50% over the past three years. Announcement • Nov 03
Avanos Medical, Inc. Provides Financial Guidance for the Year 2023 Avanos Medical, Inc. provided financial guidance for the year 2023. For the year, the company anticipates revenue between $675 million and $685 million from continuing operations. Price Target Changed • Nov 02
Price target decreased by 8.6% to US$26.50 Down from US$29.00, the current price target is an average from 2 analysts. New target price is 23% above last closing price of US$21.52. Stock is down 4.0% over the past year. The company posted earnings per share of US$1.08 last year. Reported Earnings • Nov 02
Third quarter 2023 earnings released: US$0.19 loss per share (vs US$0.34 profit in 3Q 2022) Third quarter 2023 results: US$0.19 loss per share (down from US$0.34 profit in 3Q 2022). Revenue: US$171.3m (down 15% from 3Q 2022). Net loss: US$8.80m (down 156% from profit in 3Q 2022). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Oct 26
Avanos Medical, Inc. to Report Q3, 2023 Results on Nov 01, 2023 Avanos Medical, Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 01, 2023 Major Estimate Revision • Aug 16
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$762.6m to US$682.2m. Forecast loss of -US$0.91, down from profit of US$1.08 per share profit previously. Medical Equipment industry in the US expected to see average net income growth of 21% next year. Consensus price target of US$28.00 unchanged from last update. Share price fell 6.4% to US$22.25 over the past week. New Risk • Aug 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 10
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: US$0.092 loss per share (down from US$0.24 profit in 2Q 2022). Revenue: US$169.4m (down 17% from 2Q 2022). Net loss: US$4.30m (down 138% from profit in 2Q 2022). Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) missed analyst estimates. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Medical Equipment industry in the US are expected to grow by 7.8%. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Aug 10
Avanos Medical, Inc. Provides Earnings Guidance for the Year 2023 Avanos Medical, Inc. provided earnings guidance for the year 2023. The company expected diluted earnings per share to be $1.21 to $0.77. Announcement • Jun 25
Avanos Medical, Inc.(NYSE:AVNS) dropped from Russell 2000 Dynamic Index Avanos Medical, Inc.(NYSE:AVNS) dropped from Russell 2000 Dynamic Index Announcement • Jun 20
Avanos Medical, Inc. (NYSE:AVNS) entered into a definitive agreement to acquire Diros Technology Inc. Avanos Medical, Inc. (NYSE:AVNS) entered into a definitive agreement to acquire Diros Technology Inc. on June 19, 2023. The transaction will be funded through a combination of funds from its existing credit facility and available cash. The transaction is expected to close in the third quarter of 2023. Announcement • Jun 09
SunMed, LLC entered into a Purchase Agreement to acquire Respiratory Health Business from Avanos Medical, Inc. (NYSE:AVNS) for $110 million. SunMed, LLC entered into a Purchase Agreement to acquire Respiratory Health Business from Avanos Medical, Inc. (NYSE:AVNS) for $110 million on June 7, 2023. The purchase price is subject to certain adjustments. The transaction includes substantially all of the assets primarily used in the RH business, including fixed assets, inventory, intangible assets – including the BALLARD, MICROCUFF and endOclear brands and long-term leases for two manufacturing facilities located in Mexico. Avanos will provide transition services after closing as SunMed works to integrate its new RH business within its product portfolio. The net proceeds from the transaction will enhance Avanos' balance sheet flexibility and provide additional capacity for Avanos to deploy capital in a focused and disciplined approach to M&A in the Company's core categories and markets. The closing of the Divestiture is subject to the satisfaction or waiver of certain customary conditions to closing, including: (i) receipt of all required consents from, and the making of all required notices to, governmental authorities (subject to a material adverse effect standard) and (ii) the absence of any law, order, injunction or ruling issued by a court or other governmental authority restraining, enjoining or making illegal the Divestiture. Each party’s obligation to consummate the Divestiture is also conditioned upon the accuracy of the other party’s representations and warranties (generally subject, other than for certain representations and warranties, to a material adverse effect standard) and the other party’s having performed in all material respects its obligations under the Purchase Agreement.
The transaction is expected to close in the fourth quarter of 2023. Alston & Bird LLP is serving as legal counsel to Avanos. Goodwin Procter LLP is serving as SunMed’s legal counsel. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to US$23.02, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 32x in the Medical Equipment industry in the US. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$42.51 per share. Reported Earnings • May 04
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: US$0.011 loss per share (down from US$0.12 profit in 1Q 2022). Revenue: US$191.7m (down 2.9% from 1Q 2022). Net loss: US$500.0k (down 109% from profit in 1Q 2022). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 22
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: US$1.08 (up from US$0.11 in FY 2021). Revenue: US$820.0m (up 10% from FY 2021). Net income: US$50.5m (up US$45.3m from FY 2021). Profit margin: 6.2% (up from 0.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Feb 18
Avanos Medical, Inc. Announces Resignation of Arjun R. Sarker as Senior Vice President, Effective May 10, 2023 Avanos Medical, Inc. announced that on February 14, 2023, Arjun R. Sarker, the Company’s Senior Vice President – International, notified the Company that he will resign from his position with the Company, effective May 10, 2023. Mr. Sarker will remain an employee of the Company through May 10, 2023.