Avanos Medical, Inc. Announces Fourth Quarter and Full-Year 2024 Results
Avanos Medical (NYSE: AVNS) reported its Q4 and full-year 2024 results, showing mixed performance. Q4 net sales reached $179.6 million, up 3.6% year-over-year, while full-year sales grew 2.2% to $687.8 million.
The company recorded a significant Q4 net loss of $397.0 million, largely due to a $436.7 million impairment charge on goodwill and intangible assets. Despite this, free cash flow improved to $82.9 million for 2024, compared to $14.6 million in 2023.
Q4 adjusted earnings per share increased to $0.43 from $0.36 year-over-year, while full-year adjusted EPS rose to $1.35 from $1.03. The company's net debt decreased to $27.0 million from $80.3 million previous year.
For 2025, Avanos projects net sales between $665-685 million and adjusted EPS of $1.05-1.25, reflecting challenging market conditions and currency headwinds.
Avanos Medical (NYSE: AVNS) ha riportato i risultati del quarto trimestre e dell'intero anno 2024, mostrando una performance mista. Le vendite nette del quarto trimestre hanno raggiunto $179,6 milioni, con un aumento del 3,6% rispetto all'anno precedente, mentre le vendite dell'intero anno sono cresciute del 2,2% a $687,8 milioni.
La società ha registrato una significativa perdita netta nel quarto trimestre di $397,0 milioni, principalmente a causa di un addebito di impairment di $436,7 milioni su avviamento e attività immateriali. Nonostante ciò, il flusso di cassa libero è migliorato a $82,9 milioni per il 2024, rispetto a $14,6 milioni nel 2023.
Gli utili per azione rettificati del quarto trimestre sono aumentati a $0,43 da $0,36 rispetto all'anno precedente, mentre l'EPS rettificato dell'intero anno è salito a $1,35 da $1,03. Il debito netto dell'azienda è diminuito a $27,0 milioni da $80,3 milioni dell'anno precedente.
Per il 2025, Avanos prevede vendite nette tra $665-685 milioni e un EPS rettificato di $1,05-1,25, riflettendo condizioni di mercato difficili e venti contrari valutari.
Avanos Medical (NYSE: AVNS) informó sus resultados del cuarto trimestre y del año completo 2024, mostrando un desempeño mixto. Las ventas netas del cuarto trimestre alcanzaron $179,6 millones, un aumento del 3,6% interanual, mientras que las ventas del año completo crecieron un 2,2% hasta $687,8 millones.
La compañía registró una pérdida neta significativa en el cuarto trimestre de $397,0 millones, principalmente debido a un cargo por deterioro de $436,7 millones en buena voluntad y activos intangibles. A pesar de esto, el flujo de caja libre mejoró a $82,9 millones para 2024, en comparación con $14,6 millones en 2023.
Las ganancias ajustadas por acción del cuarto trimestre aumentaron a $0,43 desde $0,36 interanualmente, mientras que el EPS ajustado del año completo subió a $1,35 desde $1,03. La deuda neta de la empresa disminuyó a $27,0 millones desde $80,3 millones del año anterior.
Para 2025, Avanos proyecta ventas netas entre $665-685 millones y un EPS ajustado de $1,05-1,25, reflejando condiciones de mercado desafiantes y vientos en contra de divisas.
아바노스 메디컬 (NYSE: AVNS)은 2024년 4분기 및 연간 실적을 발표하며 혼합된 성과를 보였습니다. 4분기 순매출은 $179.6 백만에 달해 전년 대비 3.6% 증가했으며, 연간 매출은 2.2% 증가하여 $687.8 백만에 도달했습니다.
회사는 4분기에 $397.0 백만의 상당한 순손실을 기록했으며, 이는 주로 $436.7 백만의 goodwill 및 무형자산에 대한 손상차손 때문입니다. 그럼에도 불구하고, 2024년 자유 현금 흐름은 2023년의 $14.6 백만에서 $82.9 백만으로 개선되었습니다.
4분기 조정 주당순이익은 전년 대비 $0.36에서 $0.43로 증가했으며, 연간 조정 EPS는 $1.03에서 $1.35로 상승했습니다. 회사의 순부채는 작년의 $80.3 백만에서 $27.0 백만으로 감소했습니다.
2025년을 위해 아바노스는 순매출을 $665-685 백만으로, 조정 EPS를 $1.05-1.25로 예상하며, 이는 어려운 시장 상황과 환율 악재를 반영하고 있습니다.
Avanos Medical (NYSE: AVNS) a annoncé ses résultats du quatrième trimestre et de l'année entière 2024, montrant une performance mitigée. Les ventes nettes du quatrième trimestre ont atteint $179,6 millions, en hausse de 3,6% par rapport à l'année précédente, tandis que les ventes sur l'année entière ont augmenté de 2,2% pour atteindre $687,8 millions.
L'entreprise a enregistré une perte nette significative de $397,0 millions au quatrième trimestre, principalement en raison d'une provision pour dépréciation de $436,7 millions sur le goodwill et les actifs incorporels. Malgré cela, le flux de trésorerie disponible s'est amélioré à $82,9 millions pour 2024, contre $14,6 millions en 2023.
Les bénéfices ajustés par action du quatrième trimestre ont augmenté à $0,43 contre $0,36 par rapport à l'année précédente, tandis que le BPA ajusté pour l'année entière est passé de $1,03 à $1,35. La dette nette de l'entreprise a diminué à $27,0 millions contre $80,3 millions l'année précédente.
Pour 2025, Avanos projette des ventes nettes comprises entre $665-685 millions et un BPA ajusté de $1,05-1,25, reflétant des conditions de marché difficiles et des vents contraires liés aux devises.
Avanos Medical (NYSE: AVNS) hat seine Ergebnisse für das vierte Quartal und das Gesamtjahr 2024 veröffentlicht, die eine gemischte Leistung zeigen. Die Nettoumsätze im vierten Quartal erreichten $179,6 Millionen, was einem Anstieg von 3,6% im Vergleich zum Vorjahr entspricht, während die Umsätze des Gesamtjahres um 2,2% auf $687,8 Millionen wuchsen.
Das Unternehmen verzeichnete im vierten Quartal einen erheblichen Nettoverlust von $397,0 Millionen, hauptsächlich aufgrund einer Wertminderung von $436,7 Millionen auf Geschäfts- und immaterielle Vermögenswerte. Dennoch verbesserte sich der freie Cashflow auf $82,9 Millionen für 2024, verglichen mit $14,6 Millionen im Jahr 2023.
Die bereinigten Erträge pro Aktie im vierten Quartal stiegen von $0,36 auf $0,43 im Jahresvergleich, während das bereinigte EPS für das Gesamtjahr von $1,03 auf $1,35 anstieg. Die Nettoverschuldung des Unternehmens sank auf $27,0 Millionen von $80,3 Millionen im Vorjahr.
Für 2025 prognostiziert Avanos Nettoumsätze zwischen $665-685 Millionen und ein bereinigtes EPS von $1,05-1,25, was herausfordernde Marktbedingungen und Währungsrisiken widerspiegelt.
- Q4 organic growth of 5%
- Free cash flow improved to $82.9M from $14.6M YoY
- Net debt reduced to $27.0M from $80.3M YoY
- Q4 adjusted EPS increased to $0.43 from $0.36 YoY
- Full-year adjusted EBITDA grew to $107.6M from $98.9M
- $436.7M impairment charge on goodwill and intangible assets
- Q4 net loss of $397.0M vs $11.0M profit YoY
- Full-year net loss of $386.3M vs $9.9M loss YoY
- Declining HA portfolio pricing
- 2025 guidance indicates margin pressure and challenging market conditions
Insights
Avanos Medical's Q4 and full-year 2024 results reveal significant challenges beneath surface-level growth. While Q4 sales increased 3.6% to
This impairment, triggered by downward revisions in revenue and margin projections for HA and IV infusion products, transformed what would have been modest profitability into a substantial loss of
The company's three-year transformation process appears to have delivered mixed results. While successfully reducing net debt to approximately
The bright spot remains the digestive health portfolio, especially NeoMed neonatal feeding solutions, but this strength is being offset by pricing pressures in Hyaluronic Acid products and volume declines in Pain Management. Management's acknowledgment of a "challenging market environment" suggests competitive pressures may be intensifying across multiple product categories.
The disconnect between management's positive framing and the actual financial outlook merits investor scrutiny. While the improved balance sheet provides financial flexibility, the projected performance decline raises questions about capital allocation strategy and whether the transformation has truly positioned Avanos for long-term sustainable growth.
Avanos Medical's Q4 and full-year 2024 results reveal a company struggling to deliver consistent performance across its portfolio despite completing a three-year transformation process. The stark contrast between their thriving digestive health segment (particularly NeoMed neonatal feeding solutions) and the challenged Hyaluronic Acid (HA) portfolio highlights the uneven competitive positioning within their product mix.
The $436.7 million impairment charge on goodwill and intangible assets represents a significant red flag. This massive write-down, triggered by downward revisions to HA and IV infusion product projections, suggests previous management forecasts were substantially overoptimistic. This raises serious questions about the company's market assessment capabilities and internal forecasting accuracy.
Most concerning is the 2025 guidance projecting revenue of
The digestive health portfolio's strength likely stems from the growing clinical emphasis on specialized nutrition in neonatal and pediatric care, creating a more protected market position. Conversely, the HA portfolio faces pricing pressures typical of maturing therapeutic categories where product differentiation has diminished and purchasing decisions are increasingly cost-driven.
The company's improved cash position and reduced debt (
For investors, the critical question is whether Avanos can leverage its stronger digestive health platform to offset weaknesses elsewhere, or if the projected 2025 performance decline signals more fundamental challenges in their business model and competitive positioning.
"We are pleased with our fourth quarter results, which delivered
2024 Financial Highlights
- Fourth quarter net sales from continuing operations totaled
$179.6 million 3.6% increase from the prior year. For the full-year, net sales from continuing operations increased2.2% to$687.8 million - Fourth quarter diluted loss per share from continuing operations was
$8.63 $0.24 $0.43 $0.36 - 2024 full-year diluted loss per share from continuing operations was
$8.40 $0.21 $1.35 $1.03 - Fourth quarter free cash flow was
$53.1 million $3.4 million - 2024 year-to-date free cash flow improved to
$82.9 million $14.6 million - As of December 31, 2024, our net debt was
$27.0 million $80.3 million
In the fourth quarter, we completed our obligations to perform certain manufacturing services on behalf of the buyer of our former respiratory health ("RH") business, and the assets formerly classified as "held for sale" were transferred to the buyer on October 1, 2024. The completion of this sale was a key component of our three-year transformation process (the "Transformation Process"), which is aimed at accelerating our effort to focus our product portfolio.
Fourth Quarter 2024 Operating Results From Continuing Operations
In the fourth quarter of 2024, net sales totaled
Gross margin for the fourth quarter was
Selling and general expenses as a percentage of net sales was
Operating loss in the quarter was
Net loss from continuing operations was
Adjusted EBITDA for the quarter was
Full-Year 2024 Operating Results From Continuing Operations
Net sales increased
Gross margin for 2024 was
Selling and general expenses as a percentage of net sales were
Operating loss in 2024 was
Net loss from continuing operations in 2024 was
For the full-year, adjusted EBITDA totaled
Non-Cash Goodwill and Intangible Assets Impairment
During the fourth quarter we revised our revenue and margin projections for our HA and intravenous infusion product lines downward. Consequently, we assessed certain intangibles and goodwill for impairment and recorded an impairment charge of
Cash Flow and Balance Sheet
Cash from operations less capital expenditures, or free cash flow, for the fourth quarter of 2024 was an inflow of
At year-end 2024, the Company's cash balance was
Discontinued Operations
Net sales from discontinued operations totaled
2025 Outlook
We expect 2025 net sales to be between
Avanos interim chief executive officer Michael Greiner commented, "Our 2025 guidance reflects a challenging market environment for some of our product categories, as well as currency headwinds. We expect to see a pause in our margin improvements in 2025, but remain committed to executing our long-term strategy and delivering on our previously stated margin profile. While this guidance reflects near-term pressures, we are confident in our ability to reignite our margin expansion in 2026 and are focused on positioning the company for a stronger, more sustainable future."
Non-GAAP Financial Measures
This press release and the accompanying tables include the following financial measures that have not been calculated in accordance with accounting principles generally accepted in the
- Adjusted net income
- Adjusted diluted earnings per share
- Adjusted gross and operating profit
- Adjusted effective tax rate
- Adjusted selling, general and administrative expenses
- Adjusted EBITDA
- Free cash flow
These non-GAAP financial measures exclude the following items, as applicable, for the relevant time periods as indicated in the accompanying non-GAAP reconciliations to the comparable GAAP financial measures:
- Certain acquisition and integration charges related to acquisitions.
- Expenses associated with restructuring and transformation activities, including the Divestiture in the fourth quarter of 2023.
- Expenses associated with EU MDR compliance.
- Impairment charges on Goodwill and Intangible assets.
- The amortization of intangible assets associated with prior business acquisitions.
- The tax effects of certain adjusting items.
- The benefit associated with the tax effects of the CARES Act.
- The positive or negative effect of changes in currency exchange rates during the year.
The Company provides these non-GAAP financial measures as supplemental information to our GAAP financial measures. Management and the Company's Board of Directors use net sales on a constant currency basis, adjusted net income, adjusted diluted earnings per share, adjusted operating profit, adjusted EBITDA, and free cash flow to (a) evaluate the Company's historical and prospective financial performance and its performance relative to its competitors, (b) allocate resources and (c) measure the operational performance of the Company's business units and their managers. Management also believes that the use of an adjusted effective tax rate provides improved insight into the tax effects of the Company's ongoing business operations.
Additionally, the Compensation Committee of the Company's Board of Directors will use certain of the non-GAAP financial measures when setting and assessing achievement of incentive compensation goals. These goals are based, in part, on the Company's net sales on a constant currency basis and adjusted EBITDA, which will be determined by excluding certain items that are used in calculating these non-GAAP financial measures.
Our competitors may define these non-GAAP financial measures differently, and as a result, our measure of these non-GAAP financial measures may not be directly comparable to those of other companies. Items excluded from these non-GAAP financial measures are significant components in understanding and assessing financial performance. These non-GAAP financial measures are supplemental measures of operating performance that do not represent, and should not be considered in isolation or as an alternative to, or substitute for, the financial statement data presented in our consolidated financial statements as indicators of financial performance. These non-GAAP financial measures have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analysis of our results as reported under GAAP. We compensate for these limitations by relying primarily on our GAAP results and using these non-GAAP financial measures as supplemental information.
Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the attached financial tables.
Conference Call Webcast
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About Avanos Medical, Inc.
Avanos Medical (NYSE: AVNS) is a medical device company focused on delivering clinically superior breakthrough solutions that will help patients get back to the things that matter. Headquartered in
Forward-Looking Statements
This press release contains information that includes or is based on "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can generally be identified by the use of words such as "may", "believe", "will", "expect", "project", "estimate", "anticipate", "plan", or "continue" and similar expressions, among others. Forward-looking statements are based on the current plans and expectations of management and are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements. Such factors include, but are not limited to: weakening of economic conditions that could adversely affect the level of demand for our products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for our products; shortages in drugs used in our Surgical Pain and Recovery products or other disruptions in our supply chain; the ongoing conflicts between
AVANOS MEDICAL, INC. | |||||||
CONDENSED CONSOLIDATED INCOME STATEMENTS | |||||||
(unaudited) | |||||||
(in millions, except per share amounts) | |||||||
Three Months Ended December 31, | Year Ended December 31, | ||||||
2024 | 2023 | 2024 | 2023 | ||||
Net Sales | $ 179.6 | $ 173.3 | $ 687.8 | $ 673.3 | |||
Cost of products sold | 81.6 | 78.3 | 306.5 | 293.6 | |||
Gross Profit | 98.0 | 95.0 | 381.3 | 379.7 | |||
Research and development expenses | 5.7 | 6.8 | 26.2 | 27.2 | |||
Selling and general expenses | 79.7 | 74.5 | 318.5 | 335.0 | |||
Goodwill and intangibles impairment | 436.7 | — | 436.7 | — | |||
Other (income) expense, net | (5.6) | 2.5 | (3.9) | 13.3 | |||
Operating Income | (418.5) | 11.2 | (396.2) | 4.2 | |||
Interest income | 0.8 | 1.0 | 5.1 | 2.9 | |||
Interest expense | (2.8) | (3.3) | (12.2) | (15.0) | |||
Income Before Income Taxes | (420.5) | 8.9 | (403.3) | (7.9) | |||
Income tax benefit (provision) | 23.5 | 2.1 | 17.0 | (2.0) | |||
(Loss) Income from Continuing Operations | (397.0) | 11.0 | (386.3) | (9.9) | |||
Income (Loss) from discontinued operations, net of tax | (0.3) | (0.5) | (5.8) | (51.9) | |||
Net (Loss) Income | $ (397.3) | $ 10.5 | $ (392.1) | $ (61.8) | |||
Interest expense, net | 2.0 | 2.3 | 7.1 | 12.1 | |||
Income tax (provision) benefit | (23.4) | (3.4) | (18.9) | 2.9 | |||
Depreciation and amortization | 11.1 | 11.5 | 45.5 | 46.1 | |||
EBITDA | $ (407.6) | $ 20.9 | $ (358.4) | $ (0.7) | |||
(Loss) Earnings Per Share | |||||||
Basic | |||||||
Continuing operations | $ (8.63) | $ 0.24 | $ (8.40) | $ (0.21) | |||
Discontinued operations | $ (0.01) | $ (0.01) | $ (0.13) | $ (1.11) | |||
Basic (Loss) Earnings Per Share | $ (8.64) | $ 0.23 | $ (8.53) | $ (1.32) | |||
Diluted | |||||||
Continuing operations | $ (8.63) | $ 0.24 | $ (8.40) | $ (0.21) | |||
Discontinued operations | $ (0.01) | $ (0.01) | $ (0.13) | $ (1.11) | |||
Diluted (Loss) Earnings Per Share | $ (8.64) | $ 0.23 | $ (8.53) | $ (1.32) | |||
Common Shares Outstanding | |||||||
Basic | 46.0 | 46.2 | 46.0 | 46.6 | |||
Diluted | 46.0 | 46.6 | 46.0 | 46.6 | |||
AVANOS MEDICAL, INC. | |||||||
Discontinued Operations Summary | |||||||
(unaudited) | |||||||
(in millions, except per share amounts) | |||||||
Three Months Ended December 31, | Year Ended December 31, | ||||||
2024 | 2023 | 2024 | 2023 | ||||
Net Sales | $ 13.6 | $ 7.0 | $ 54.6 | $ 100.9 | |||
Cost of products sold | 16.2 | 11.0 | 63.6 | 68.8 | |||
Gross Profit | (2.6) | (4.0) | (9.0) | 32.1 | |||
Research and development expenses | — | — | — | 0.8 | |||
Selling, general and other expenses | — | (0.7) | — | 11.2 | |||
Pretax (loss) gain on classification as discontinued operations | — | (1.5) | — | 70.8 | |||
Other (income) expense, net | (2.4) | — | (1.3) | 0.3 | |||
Operating income (loss) | (0.2) | (1.8) | (7.7) | (51.0) | |||
Income tax (provision) benefit from discontinued operations | (0.1) | 1.3 | 1.9 | (0.9) | |||
Income (Loss) from discontinued operations, net of tax | $ (0.3) | $ (0.5) | $ (5.8) | $ (51.9) | |||
AVANOS MEDICAL, INC. | |||||||||||
NON-GAAP RECONCILIATIONS | |||||||||||
(unaudited) | |||||||||||
(in millions) | |||||||||||
Gross Profit | |||||||||||
Three Months Ended December 31, 2024 | Three Months Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ 98.0 | $ (2.6) | $ 95.4 | $ 95.0 | $ (4.0) | $ 91.0 | |||||
Acquisition and integration-related charges | — | — | — | 0.4 | — | 0.4 | |||||
Restructuring and transformation charges | 1.3 | — | 1.3 | 2.4 | — | 2.4 | |||||
Post-RH Divestiture transition charges | 0.4 | — | 0.4 | — | — | — | |||||
Post-RH Divestiture restructuring | 2.1 | — | 2.1 | — | — | — | |||||
Divestiture related charges | — | — | — | — | 1.4 | 1.4 | |||||
Intangibles amortization | 3.6 | — | 3.6 | 3.8 | — | 3.8 | |||||
As adjusted non-GAAP | $ 105.4 | $ (2.6) | $ 102.8 | $ 101.6 | $ (2.6) | $ 99.0 | |||||
Gross profit margin, as reported | 54.6 % | (19.1) % | 49.4 % | 54.8 % | (57.1) % | 50.5 % | |||||
Gross profit margin, as adjusted | 58.7 % | (19.1) % | 53.2 % | 58.6 % | (37.1) % | 54.9 % | |||||
Gross Profit | |||||||||||
Year Ended December 31, 2024 | Year Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ 381.3 | $ (9.0) | $ 372.3 | $ 379.7 | $ 32.1 | $ 411.8 | |||||
Acquisition and integration-related charges | 0.1 | — | 0.1 | 0.4 | — | 0.4 | |||||
Restructuring and transformation charges | 3.0 | — | 3.0 | 3.0 | — | 3.0 | |||||
Post-RH Divestiture transition charges | 1.8 | — | 1.8 | — | — | — | |||||
Post-RH Divestiture restructuring | 5.1 | — | 5.1 | — | — | — | |||||
Divestiture related charges | — | — | — | — | 1.4 | 1.4 | |||||
EU MDR Compliance | 0.2 | — | 0.2 | — | — | — | |||||
Intangibles amortization | 14.3 | — | 14.3 | 14.6 | — | 14.6 | |||||
As adjusted non-GAAP | $ 405.8 | $ (9.0) | $ 396.8 | $ 397.7 | $ 33.5 | $ 431.2 | |||||
Gross profit margin, as reported | 55.4 % | (16.5) % | 50.1 % | 56.4 % | 31.8 % | 53.2 % | |||||
Gross profit margin, as adjusted | 59.0 % | (16.5) % | 53.4 % | 59.1 % | 33.2 % | 55.7 % | |||||
AVANOS MEDICAL, INC. | |||||||||||
NON-GAAP RECONCILIATIONS | |||||||||||
(unaudited) | |||||||||||
(in millions) | |||||||||||
Operating Profit (Loss) | |||||||||||
Three Months Ended December 31, 2024 | Three Months Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ (418.5) | $ (0.2) | $ (418.7) | $ 11.2 | $ (1.8) | $ 9.4 | |||||
Acquisition and integration-related charges | 0.1 | — | 0.1 | 0.9 | — | 0.9 | |||||
Restructuring and transformation charges(a) | (6.0) | — | (6.0) | 5.2 | — | 5.2 | |||||
Post-RH Divestiture transition charges | 0.9 | — | 0.9 | — | — | — | |||||
Post-RH Divestiture restructuring | 2.5 | — | 2.5 | — | — | — | |||||
Divestiture related charges | — | — | — | 0.9 | — | 0.9 | |||||
Estimated loss on Divestiture | — | — | — | — | (1.5) | (1.5) | |||||
Goodwill and intangibles impairment | 436.7 | — | 436.7 | — | — | — | |||||
EU MDR Compliance(b) | 1.8 | — | 1.8 | 0.9 | — | 0.9 | |||||
Litigation and legal | — | — | — | 1.5 | — | 1.5 | |||||
Intangibles amortization | 6.4 | — | 6.4 | 6.5 | — | 6.5 | |||||
As adjusted non-GAAP | $ 23.9 | $ (0.2) | $ 23.7 | $ 27.1 | $ (3.3) | $ 23.8 | |||||
Operating Profit (Loss) | |||||||||||
Year Ended December 31, 2024 | Year Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ (396.2) | $ (7.7) | $ (403.9) | $ 4.2 | $ (51.0) | $ (46.8) | |||||
Acquisition and integration-related charges | 4.2 | — | 4.2 | 3.3 | — | 3.3 | |||||
Restructuring and transformation charges(a) | (0.8) | — | (0.8) | 28.2 | — | 28.2 | |||||
Post-RH Divestiture transition charges | 3.1 | — | 3.1 | — | — | — | |||||
Post-RH Divestiture restructuring | 8.9 | — | 8.9 | — | — | — | |||||
Divestiture related charges | — | — | — | 6.0 | 0.8 | 6.8 | |||||
Estimated loss on Divestiture | — | — | — | — | 70.8 | 70.8 | |||||
Goodwill and intangibles impairment | 436.7 | — | 436.7 | — | — | — | |||||
EU MDR Compliance(b) | 6.2 | — | 6.2 | 3.7 | — | 3.7 | |||||
Litigation and legal | — | — | — | 10.0 | — | 10.0 | |||||
Intangibles amortization | 25.2 | — | 25.2 | 24.3 | 0.8 | 25.1 | |||||
As adjusted non-GAAP | $ 87.3 | $ (7.7) | $ 79.6 | $ 79.7 | $ 21.4 | $ 101.1 | |||||
__________________________________________________ | |
(a) | Expenses incurred for the Transformation Process are included in "Costs of products sold," "Research and development," "Selling and general expenses" and "Other expense, net" on the Condensed Consolidated Income Statements. |
(b) | In the three months ended December 31, 2024 and 2023, EU MDR Compliance related charges are included in "Selling and general expenses" on the Condensed Consolidated Income Statements. In the years ended December 31, 2024 and 2023, EU MDR Compliance related charges are included in "Costs of products sold" and "Selling and general expenses" on the Condensed Consolidated Income Statements. |
AVANOS MEDICAL, INC. | |||||||||||
NON-GAAP RECONCILIATIONS | |||||||||||
(unaudited) | |||||||||||
(in millions) | |||||||||||
(Loss) Income Before Taxes | |||||||||||
Three Months Ended December 31, 2024 | Three Months Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ (420.5) | $ (0.2) | $ (420.7) | $ 8.9 | $ (1.8) | $ 7.1 | |||||
Acquisition and integration-related charges | 0.1 | — | 0.1 | 0.9 | — | 0.9 | |||||
Restructuring and transformation charges | (6.0) | — | (6.0) | 5.2 | — | 5.2 | |||||
Post-RH Divestiture transition charges | 0.9 | — | 0.9 | — | — | — | |||||
Post-RH Divestiture restructuring | 2.5 | — | 2.5 | — | — | — | |||||
Divestiture related charges | — | — | — | 0.9 | — | 0.9 | |||||
Estimated loss on divestiture | — | — | — | — | (1.5) | (1.5) | |||||
Goodwill and intangibles impairment | 436.7 | — | 436.7 | — | — | — | |||||
EU MDR Compliance | 1.8 | — | 1.8 | 0.9 | — | 0.9 | |||||
Litigation and legal | — | — | — | 1.5 | — | 1.5 | |||||
Intangibles amortization | 6.4 | — | 6.4 | 6.5 | — | 6.5 | |||||
As adjusted non-GAAP | $ 21.9 | $ (0.2) | $ 21.7 | $ 24.8 | $ (3.3) | $ 21.5 | |||||
(Loss) Income Before Taxes | |||||||||||
Year Ended December 31, 2024 | Year Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ (403.3) | $ (7.7) | $ (411.0) | $ (7.9) | $ (51.0) | $ (58.9) | |||||
Acquisition and integration-related charges | 4.2 | — | 4.2 | 3.3 | — | 3.3 | |||||
Restructuring and transformation charges | (0.8) | — | (0.8) | 28.2 | — | 28.2 | |||||
Post-RH Divestiture transition charges | 3.1 | — | 3.1 | — | — | — | |||||
Post-RH Divestiture restructuring | 8.9 | — | 8.9 | — | — | — | |||||
Divestiture related charges | — | — | — | 6.0 | 0.8 | 6.8 | |||||
Estimated loss on Divestiture | — | — | — | — | 70.8 | 70.8 | |||||
Goodwill and intangibles impairment | 436.7 | — | 436.7 | — | — | — | |||||
EU MDR Compliance | 6.2 | — | 6.2 | 3.7 | — | 3.7 | |||||
Litigation and legal | — | — | — | 10.0 | — | 10.0 | |||||
Intangibles amortization | 25.2 | — | 25.2 | 24.3 | 0.8 | 25.1 | |||||
As adjusted non-GAAP | $ 80.2 | $ (7.7) | $ 72.5 | $ 67.6 | $ 21.4 | $ 89.0 | |||||
AVANOS MEDICAL, INC. | |||||||||||
NON-GAAP RECONCILIATIONS | |||||||||||
(unaudited) | |||||||||||
(in millions, except per share amounts) | |||||||||||
Tax Benefit (Provision) | |||||||||||
Three Months Ended December 31, 2024 | Three Months Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ 23.5 | $ (0.1) | $ 23.4 | $ 2.1 | $ 1.3 | $ 3.4 | |||||
Tax effects of adjusting items | (25.4) | — | (25.4) | (10.3) | — | (10.3) | |||||
As adjusted non-GAAP | $ (1.9) | $ (0.1) | $ (2.0) | $ (8.2) | $ 1.3 | $ (6.9) | |||||
Effective tax rate, as reported | 5.6 % | (50.0) % | 5.6 % | (23.6) % | 72.2 % | (47.9) % | |||||
Effective tax rate, as adjusted | 8.7 % | (50.0) % | 9.2 % | 33.2 % | 39.4 % | 32.3 % | |||||
Tax Benefit (Provision) | |||||||||||
Year Ended December 31, 2024 | Year Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ 17.0 | $ 1.9 | $ 18.9 | $ (2.0) | $ (0.9) | $ (2.9) | |||||
Tax effects of adjusting items | (34.6) | — | (34.6) | (17.8) | (4.4) | (22.2) | |||||
As adjusted non-GAAP | $ (17.6) | $ 1.9 | $ (15.7) | $ (19.8) | $ (5.3) | $ (25.1) | |||||
Effective tax rate, as reported | 4.2 % | 24.7 % | 4.6 % | (25.3) % | (1.8) % | (4.9) % | |||||
Effective tax rate, as adjusted | 21.9 % | 24.7 % | 21.7 % | 29.3 % | 24.8 % | 28.2 % | |||||
AVANOS MEDICAL, INC. | |||||||||||
NON-GAAP RECONCILIATIONS | |||||||||||
(unaudited) | |||||||||||
(in millions, except per share amounts) | |||||||||||
Net (Loss) Income | |||||||||||
Three Months Ended December 31, 2024 | Three Months Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ (397.0) | $ (0.3) | $ (397.3) | $ 11.0 | $ (0.5) | $ 10.5 | |||||
Acquisition and integration-related charges | 0.1 | — | 0.1 | 0.9 | — | 0.9 | |||||
Restructuring and transformation charges | (6.0) | — | (6.0) | 5.2 | — | 5.2 | |||||
Post-RH Divestiture transition charges | 0.9 | — | 0.9 | — | — | — | |||||
Post-RH Divestiture restructuring | 2.5 | — | 2.5 | — | — | — | |||||
Divestiture related | — | — | — | 0.9 | — | 0.9 | |||||
Estimated loss on divestiture | — | — | — | — | (1.5) | (1.5) | |||||
Goodwill and intangibles impairment | 436.7 | — | 436.7 | — | — | — | |||||
EU MDR Compliance | 1.8 | — | 1.8 | 0.9 | — | 0.9 | |||||
Litigation and legal | — | — | — | 1.5 | — | 1.5 | |||||
Intangibles amortization | 6.4 | — | 6.4 | 6.5 | — | 6.5 | |||||
Tax effects of adjusting items | (25.4) | — | (25.4) | (10.3) | — | (10.3) | |||||
As adjusted non-GAAP | $ 20.0 | $ (0.3) | $ 19.7 | $ 16.6 | $ (2.0) | $ 14.6 | |||||
Diluted (loss) earnings per share, as reported | $ (8.63) | $ (0.01) | $ (8.64) | $ 0.24 | $ (0.01) | $ 0.23 | |||||
Diluted earnings (loss) per share, as adjusted | $ 0.43 | $ (0.01) | $ 0.42 | $ 0.36 | $ (0.04) | $ 0.32 | |||||
Net (Loss) Income | |||||||||||
Year Ended December 31, 2024 | Year Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ (386.3) | $ (5.8) | $ (392.1) | $ (9.9) | $ (51.9) | $ (61.8) | |||||
Acquisition and integration-related charges | 4.2 | — | 4.2 | 3.3 | — | 3.3 | |||||
Restructuring and transformation charges | (0.8) | — | (0.8) | 28.2 | — | 28.2 | |||||
Post-RH Divestiture transition charges | 3.1 | — | 3.1 | — | — | — | |||||
Post-RH Divestiture restructuring | 8.9 | — | 8.9 | — | — | — | |||||
Divestiture related charges | — | — | — | 6.0 | 0.8 | 6.8 | |||||
Estimated loss on divestiture | — | — | — | — | 70.8 | 70.8 | |||||
Goodwill and intangibles impairment | 436.7 | — | 436.7 | — | — | — | |||||
EU MDR Compliance | 6.2 | — | 6.2 | 3.7 | — | 3.7 | |||||
Litigation and legal | — | — | — | 10.0 | — | 10.0 | |||||
Intangibles amortization | 25.2 | — | 25.2 | 24.3 | 0.8 | 25.1 | |||||
Tax effects of adjusting items | (34.6) | — | (34.6) | (17.8) | (4.4) | (22.2) | |||||
As adjusted non-GAAP | $ 62.6 | $ (5.8) | $ 56.8 | $ 47.8 | $ 16.1 | $ 63.9 | |||||
Diluted (loss) earnings per share, as reported | $ (8.40) | $ (0.13) | $ (8.53) | $ (0.21) | $ (1.11) | $ (1.32) | |||||
Diluted earnings per share, as adjusted | $ 1.35 | $ (0.13) | $ 1.22 | $ 1.03 | $ 0.35 | $ 1.38 | |||||
AVANOS MEDICAL, INC. | |||||||||||
NON-GAAP RECONCILIATIONS | |||||||||||
(unaudited) | |||||||||||
(in millions, except per share amounts) | |||||||||||
Selling, General and Administrative Expenses | |||||||||||
Three Months Ended December 31, 2024 | Three Months Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ 79.7 | $ — | $ 79.7 | $ 74.5 | $ (0.7) | $ 73.8 | |||||
Acquisition and integration-related charges | (0.1) | — | (0.1) | (0.5) | — | (0.5) | |||||
Restructuring and transformation charges | 0.4 | — | 0.4 | (2.0) | — | (2.0) | |||||
Post-RH Divestiture transition charges | (0.2) | — | (0.2) | — | — | — | |||||
Post-RH Divestiture restructuring | (0.4) | — | (0.4) | — | — | — | |||||
Divestiture related charges | — | — | — | (0.9) | 0.8 | (0.1) | |||||
EU MDR Compliance | (1.8) | — | (1.8) | (0.9) | — | (0.9) | |||||
Intangibles amortization | (2.8) | — | (2.8) | (2.7) | — | (2.7) | |||||
As adjusted non-GAAP | $ 74.8 | $ — | $ 74.8 | $ 67.5 | $ 0.1 | $ 67.6 | |||||
SG&A as a percentage of revenue, as reported | 44.4 % | — % | 41.3 % | 43.0 % | (10.0) % | 40.9 % | |||||
SG&A as a percentage of revenue, as adjusted | 41.6 % | — % | 38.7 % | 38.9 % | 1.4 % | 37.5 % | |||||
Selling, General and Administrative Expenses | |||||||||||
Year Ended December 31, 2024 | Year Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
As reported | $ 318.5 | $ — | $ 318.5 | $ 335.0 | $ 11.2 | $ 346.2 | |||||
Acquisition and integration-related charges | (1.4) | — | (1.4) | (1.5) | — | (1.5) | |||||
Restructuring and transformation charges | (3.0) | — | (3.0) | (22.5) | — | (22.5) | |||||
Post-RH Divestiture transition charges | (0.8) | — | (0.8) | — | — | — | |||||
Post-RH Divestiture restructuring | (3.8) | — | (3.8) | — | — | — | |||||
Divestiture related charges | — | — | — | (6.0) | — | (6.0) | |||||
EU MDR Compliance | (6.0) | — | (6.0) | (3.7) | — | (3.7) | |||||
Intangibles amortization | (10.9) | — | (10.9) | (9.7) | (0.8) | (10.5) | |||||
As adjusted non-GAAP | $ 292.6 | $ — | $ 292.6 | $ 291.6 | $ 10.4 | $ 302.0 | |||||
SG&A as a percentage of revenue, as reported | 46.3 % | — % | 42.9 % | 49.8 % | 11.1 % | 44.7 % | |||||
SG&A as a percentage of revenue, as adjusted | 42.5 % | — % | 39.4 % | 43.3 % | 10.3 % | 39.0 % | |||||
AVANOS MEDICAL, INC. | |||||||||||
NON-GAAP RECONCILIATIONS | |||||||||||
(unaudited) | |||||||||||
(in millions, except per share amounts) | |||||||||||
EBITDA | |||||||||||
Three Months Ended December 31, 2024 | Three Months Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
Net (loss) income | $ (397.0) | $ (0.3) | $ (397.3) | $ 11.0 | $ (0.5) | $ 10.5 | |||||
Interest expense, net | 2.0 | — | 2.0 | 2.3 | — | 2.3 | |||||
Income tax (provision) benefit | (23.5) | 0.1 | (23.4) | (2.1) | (1.3) | (3.4) | |||||
Depreciation | 4.7 | — | 4.7 | 5.0 | — | 5.0 | |||||
Amortization | 6.4 | — | 6.4 | 6.5 | — | 6.5 | |||||
EBITDA | (407.4) | (0.2) | (407.6) | 22.7 | (1.8) | 20.9 | |||||
Acquisition and integration-related charges | 0.1 | — | 0.1 | 0.9 | — | 0.9 | |||||
Restructuring and transformation charges | (6.0) | — | (6.0) | 5.2 | — | 5.2 | |||||
Post-RH Divestiture transition charges | 0.9 | — | 0.9 | — | — | — | |||||
Post-RH Divestiture restructuring | 2.5 | — | 2.5 | — | — | — | |||||
Divestiture related charges | — | — | — | 0.9 | — | 0.9 | |||||
Estimated loss on divestiture | — | — | — | — | (1.5) | (1.5) | |||||
Goodwill and intangibles impairment | 436.7 | — | 436.7 | — | — | — | |||||
EU MDR Compliance | 1.8 | — | 1.8 | 0.9 | — | 0.9 | |||||
Litigation and legal | — | — | — | 1.5 | — | 1.5 | |||||
Adjusted EBITDA | $ 28.6 | $ (0.2) | $ 28.4 | $ 32.1 | $ (3.3) | $ 28.8 | |||||
EBITDA | |||||||||||
Year Ended December 31, 2024 | Year Ended December 31, 2023 | ||||||||||
Continuing | Disc. | Total | Continuing | Disc. | Total | ||||||
Net (loss) income | $ (386.3) | $ (5.8) | $ (392.1) | $ (9.9) | $ (51.9) | $ (61.8) | |||||
Interest expense, net | 7.1 | — | 7.1 | 12.1 | — | 12.1 | |||||
Income tax (provision) benefit | (17.0) | (1.9) | (18.9) | 2.0 | 0.9 | 2.9 | |||||
Depreciation | 20.3 | — | 20.3 | 19.2 | 1.8 | 21.0 | |||||
Amortization | 25.2 | — | 25.2 | 24.3 | 0.8 | 25.1 | |||||
EBITDA | (350.7) | (7.7) | (358.4) | 47.7 | (48.4) | (0.7) | |||||
Acquisition and integration-related charges | 4.2 | — | 4.2 | 3.3 | — | 3.3 | |||||
Restructuring and transformation charges | (0.8) | — | (0.8) | 28.2 | — | 28.2 | |||||
Post-RH Divestiture transition charges | 3.1 | — | 3.1 | — | — | — | |||||
Post-RH Divestiture restructuring | 8.9 | — | 8.9 | — | — | — | |||||
Divestiture related charges | — | — | — | 6.0 | 0.8 | 6.8 | |||||
Estimated loss on divestiture | — | — | — | — | 70.8 | 70.8 | |||||
Goodwill and intangibles impairment | 436.7 | — | 436.7 | — | — | — | |||||
EU MDR Compliance | 6.2 | — | 6.2 | 3.7 | — | 3.7 | |||||
Litigation and legal | — | — | — | 10.0 | — | 10.0 | |||||
Adjusted EBITDA | $ 107.6 | $ (7.7) | $ 99.9 | $ 98.9 | $ 23.2 | $ 122.1 | |||||
AVANOS MEDICAL, INC. | |||||||
NON-GAAP RECONCILIATIONS | |||||||
(unaudited) | |||||||
(in millions, except per share amounts) | |||||||
Free Cash Flow | |||||||
Three Months Ended December 31, | Year Ended December 31, | ||||||
2024 | 2023 | 2024 | 2023 | ||||
Cash provided by operating activities | $ 57.9 | $ 2.5 | $ 100.7 | $ 32.4 | |||
Capital expenditures | (4.8) | (5.9) | (17.8) | (17.8) | |||
Free Cash Flow | $ 53.1 | $ (3.4) | $ 82.9 | $ 14.6 | |||
2025 OUTLOOK | |||
Estimated Range | |||
Diluted earnings per share (GAAP) | $ 0.63 | to | $ 0.86 |
Intangibles amortization | 0.25 | to | 0.24 |
Restructuring and transformation charges | 0.12 | to | 0.10 |
Other | 0.05 | to | 0.05 |
Adjusted diluted earnings per share (non-GAAP) | $ 1.05 | to | $ 1.25 |
AVANOS MEDICAL, INC. | |||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||
(unaudited) | |||
(in millions) | |||
As of December 31, | |||
2024 | 2023 | ||
ASSETS | |||
Current Assets | |||
Cash and cash equivalents | $ 107.7 | $ 87.7 | |
Accounts receivable, net of allowances | 132.8 | 142.8 | |
Inventories | 138.8 | 163.2 | |
Prepaid expenses and other current assets | 14.1 | 28.8 | |
Assets held for sale | — | 64.5 | |
Total Current Assets | 393.4 | 487.0 | |
Property, Plant and Equipment, net | 110.7 | 117.2 | |
Operating Lease Right of Use Assets | 34.1 | 26.8 | |
Goodwill | 455.6 | 796.1 | |
Other Intangible Assets, net | 112.3 | 239.5 | |
Deferred Tax Assets | 24.9 | 6.5 | |
Other Assets | 23.2 | 19.3 | |
TOTAL ASSETS | $ 1,154.2 | $ 1,692.4 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Current Liabilities | |||
Current portion of long-term debt | $ 9.4 | $ 8.6 | |
Current portion of operating lease obligation | 10.9 | 12.8 | |
Trade accounts payable | 54.3 | 56.3 | |
Accrued expenses | 91.3 | 93.2 | |
Liabilities held for sale | — | 63.7 | |
Total Current Liabilities | 165.9 | 234.6 | |
Long-Term Debt | 125.3 | 159.4 | |
Operating Lease Obligation | 24.6 | 28.3 | |
Deferred Tax Liabilities | 5.5 | 23.8 | |
Other Long-Term Liabilities | 4.4 | 10.0 | |
TOTAL LIABILITIES | 325.7 | 456.1 | |
Stockholders' Equity | 828.5 | 1,236.3 | |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 1,154.2 | $ 1,692.4 | |
AVANOS MEDICAL, INC. | |||||||
CONDENSED CONSOLIDATED CASH FLOW STATEMENTS | |||||||
(unaudited) | |||||||
(in millions) | |||||||
Three Months Ended December 31, | Year Ended December 31, | ||||||
2024 | 2023 | 2024 | 2023 | ||||
Operating Activities | |||||||
Net (loss) income | $ (397.3) | $ 10.5 | $ (392.1) | $ (61.8) | |||
Depreciation and amortization | 11.1 | 11.5 | 45.5 | 46.1 | |||
Goodwill and intangibles impairment | 436.7 | — | 436.7 | — | |||
Loss on RH disposal | — | (1.4) | — | 70.8 | |||
Net loss on asset dispositions | 0.8 | 0.8 | 1.2 | 1.9 | |||
Changes in operating assets and liabilities | 45.0 | (3.0) | 35.0 | (18.0) | |||
Deferred income taxes and other | (38.4) | (15.9) | (25.6) | (6.6) | |||
Cash Provided by Operating Activities | 57.9 | 2.5 | 100.7 | 32.4 | |||
Investing Activities | |||||||
Capital expenditures | (4.8) | (5.9) | (17.8) | (17.8) | |||
Proceeds from the RH divestiture | — | 89.0 | — | 89.0 | |||
Proceeds from RH divestiture post-closing settlement | — | — | 2.1 | — | |||
Investments in non-affiliates | (2.8) | — | (11.8) | — | |||
Acquisition of assets and investments in businesses | — | (2.1) | — | (49.6) | |||
Cash (Used in) Provided by Investing Activities | (7.6) | 81.0 | (27.5) | 21.6 | |||
Financing Activities | |||||||
Secured debt repayments | (2.3) | (1.6) | (8.6) | (4.7) | |||
Revolving credit facility proceeds | — | — | 20.0 | 55.0 | |||
Revolving credit facility repayments | (25.0) | (95.0) | (45.0) | (115.0) | |||
Purchase of treasury stock | (0.1) | (6.2) | (12.8) | (19.1) | |||
Proceeds from the exercise of stock options | — | (0.2) | 1.1 | 1.3 | |||
Payment of contingent consideration liabilities | — | (1.5) | (3.8) | (11.7) | |||
Cash Used in Financing Activities | (27.4) | (104.5) | (49.1) | (94.2) | |||
Effect of Exchange Rate Changes on Cash and Cash Equivalents | (4.2) | 1.6 | (4.1) | 0.2 | |||
Increase (Decrease) in Cash and Cash Equivalents | 18.7 | (19.4) | 20.0 | (40.0) | |||
Cash and Cash Equivalents - Beginning of Period | 89.0 | 107.1 | 87.7 | 127.7 | |||
Cash and Cash Equivalents - End of Period | $ 107.7 | $ 87.7 | $ 107.7 | $ 87.7 | |||
AVANOS MEDICAL, INC. | |||||||||||
SELECTED BUSINESS AND PRODUCTS DATA | |||||||||||
(unaudited) | |||||||||||
(in millions) | |||||||||||
Three Months Ended | Year Ended December 31, | ||||||||||
2024 | 2023 | Change | 2024 | 2023 | Change | ||||||
Digestive health | $ 105.8 | $ 94.8 | 11.6 % | $ 396.4 | $ 371.6 | 6.7 % | |||||
Pain Management and Recovery: | |||||||||||
Surgical pain and recovery | 30.3 | 35.6 | (14.9) % | 124.1 | 139.2 | (10.8) % | |||||
Interventional pain | 43.5 | 42.9 | 1.4 % | 167.3 | 162.5 | 3.0 % | |||||
Total Pain Management and recovery | 73.8 | 78.5 | (6.0) % | 291.4 | 301.7 | (3.4) % | |||||
Total Net Sales | $ 179.6 | $ 173.3 | 3.6 % | $ 687.8 | $ 673.3 | 2.2 % | |||||
Total | Volume(a) | Pricing/Mix | Currency | Other(b) | |||||||
Net Sales - percentage change - QTD | 3.6 % | 6.2 % | (3.0) % | 0.5 % | (0.1) % | ||||||
Net Sales - percentage change - YTD | 2.2 % | 4.3 % | (2.2) % | 0.1 % | — % | ||||||
______________________________ | |
(a) | Volume includes incremental sales from acquisitions. |
(b) | Other includes rounding. |
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SOURCE Avanos Medical
FAQ
What caused Avanos Medical (AVNS) to report a significant loss in Q4 2024?
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