Avanos Medical Inc

NYSE:AVNSUnited States

May 2, 2024

Show headlines and story abstract

• -- Earnings Flash (AVNS) AVANOS MEDICAL Posts Q1 EPS $0.22, from 7:17AM ET on Thursday May 02, 2024 by MT Newswires

  7:17AM ET on Thursday May 02, 2024 by MT Newswires
  Companies Mentioned: AVNS
  07:17 AM EDT, 05/02/2024 (MT Newswires) -- ...

• Avanos Medical, Inc. Announces First Quarter 2024 Results, from 7:01AM ET on Thursday May 02, 2024 by PR Newswire

  7:01AM ET on Thursday May 02, 2024 by PR Newswire
  Companies Mentioned: AVNS

  Avanos Medical, Inc. (NYSE: AVNS) today reported first quarter 2024 financial results.

  https://mma.prnewswire.com/media/713850/Avanos_Logo.jpg

  "As we begin the second year of our three-year transformation initiative, we are pleased with our first quarter results," said Joe Woody, Avanos's chief executive officer. Woody added, "We continue to make progress on our long-term margin expansion targets, are delivering on our Digestive Health growth objectives and have made improvements in our Pain Management and Recovery franchise that will support our mid-single digit growth in the back half of the year."

• *DJ Avanos Medical 1Q Loss $900,000 >AVNS, from 7:00AM ET on Thursday May 02, 2024 by Dow Jones

  7:00AM ET on Thursday May 02, 2024 by Dow Jones
  Companies Mentioned: AVNS

• Avanos Medical, Inc. Announces First Quarter 2024 Results, from 7:00AM ET on Thursday May 02, 2024 by Dow Jones

  7:00AM ET on Thursday May 02, 2024 by Dow Jones
  Companies Mentioned: AVNS
  CONDENSED CONSOLIDATED CASH FLOW STATEMENTS (unaudited) (in millions) Three Months Ended March 31, 2024 2023 ----------------------- ----------------------- Operating Activities Net loss $ (0.9) $ (0.5) Depreciation and amortization 11.4 12.1 Loss on asset dispositions 0.3 -- Changes in operating assets and liabilities, net of acquisition (22.0) (19.3) Deferred income taxes and other 3.2 0.9 ----------------------- ----------------------- Cash Used in Operating Activities (8.0) (6.8) Investing Activities Capital expenditures (4.1) (4.0) Proceeds from RH Divestiture post-closing settlement 2.1 -- ----------------------- ----------------------- Cash Used in Investing Activities (2.0) (4.0) Financing Activities Secured debt repayments (1.6) (1.6) Revolving credit facility proceeds 20.0 -- Revolving credit facility repayments (10.0) (20.0) Purchase of treasury stock (9.1) (1.1) Proceeds from the exercise of stock options 0.5 0.6 Payment of contingent consideration liabilities (0.5) -- ----------------------- ----------------------- Cash Used in Financing Activities (0.7) (22.1) ----------------------- ----------------------- Effect of Exchange Rate Changes on Cash and Cash Equivalents (1.2) 0.9 ----------------------- ----------------------- Decrease in Cash and Cash Equivalents (11.9) (32.0) ----------------------- ----------------------- Cash and Cash Equivalents - Beginning of Period 87.7 127.7 ----------------------- ----------------------- Cash and Cash Equivalents - End of Period $ 75.8 $ 95.7 ======================= ======================= AVANOS MEDICAL, INC. SELECTED BUSINESS AND PRODUCTS DATA (unaudited) (in millions) Three Months Ended March 31, --------------------------- 2024 2023 Change ------------ ------------- Digestive Health $ 94.7 $ 88.8 6.6 % Pain Management and Recovery: Surgical pain and recovery $ 31.2 $ 34.7 (10.1) % Interventional pain 40.2 35.8 12.3 % ------------ ------------- Total Pain Management and Recovery 71.4 70.5 1.3 % ------------ ------------- Total Net Sales $ 166.1 $ 159.3 4.3 % ============ ============= Total Volume Pricing/Mix Currency Other(a) Net sales - percentage change 4.3 % 5.2 % (1.1) % 0.1 % 0.1 % (a) Other includes rounding.