Q3 2024 Financial Highlights and Product Updates from Medtronic, Johnson & Johnson, GE HealthCare, and 25 Other Global MedTech Leaders

Nov 29, 2024 17:26 CST Updated 17:26

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Source: PharmaHealth News

Note:The starting time of the fiscal year for major companies differs from the calendar year, thus resulting in inconsistencies between fiscal quarters, fiscal years, and the calendar year.Companies may announce their performance on a quarterly or semi-annual basis.

Medtronic Announces Second Quarter Financial Results for Fiscal Year 2024 Ending October 25, 2024. Quarterly Net Sales were $8.403 billion, compared to $7.984 billion in the same period last year. Quarterly Operating Profit was $1.595 billion, compared to $1.34 billion in the same period last year. Quarterly Net Income Attributable to the Company was $1.27 billion, compared to $909 million in the same period last year.

Johnson & Johnson Announces Q3 2024 Financial Results. Quarterly sales reached $22.471 billion, compared to $21.351 billion in the same period last year, representing a 5.2% year-over-year increase. Quarterly net profit was $2.694 billion, down 37.5% from $4.309 billion in the same period last year. Adjusted net profit was $5.876 billion, a decrease of 13.3% year-over-year. By business segment, pharmaceutical sales amounted to $14.58 billion, up 4.9% year-over-year. Medical device sales were $7.891 billion, an increase of 5.8% year-over-year.

Abbott Reports Third Quarter 2024 Results. Net sales for the quarter were $10.635 billion, compared to $10.143 billion in the same period last year, representing a 4.9% increase. Quarterly net profit was $1.646 billion, compared to $1.436 billion in the same period last year. By business segment, medical device sales reached $4.747 billion, an 11.7% increase year-over-year. Nutrition business sales amounted to $2.066 billion, a 0.3% decrease year-over-year. Diagnostic business sales were $2.412 billion, a 1.5% decline year-over-year. Generic drug business sales totaled $1.406 billion, reflecting a 2.7% increase year-over-year.

Siemens Healthineers Announces Q4 and Fiscal Year 2024 Results Ended September 30, 2024. Q4 Revenue Reached €6.329 Billion (Approx. $6.71 Billion), Up 4.5% YoY from €6.056 Billion. Adjusted EBIT Profit was €1.12 Billion, a 7% Increase from €1.045 Billion. Quarterly Net Profit was €624 Million, a 15% Increase from €540 Million. Fiscal Year Revenue was €22.363 Billion, with Adjusted EBIT Profit at €3.51 Billion and Net Profit at €1.959 Billion.

Danaher Reports Third Quarter 2024 Results. Quarterly sales were $5.798 billion, compared to $5.624 billion in the same period last year. Net income attributable to common shareholders for the quarter was $818 million, compared to $1.129 billion in the same period last year.

Medical device and equipment manufacturer Stryker reported its financial results for the third quarter of 2024. Net sales for the quarter reached $5.494 billion, compared to $4.909 billion in the same period last year, representing an increase of 11.9% year-over-year. Quarterly net profit was $834 million, up from $692 million in the same period last year, marking a year-over-year growth of 20.5%.

BD Reports Fourth Quarter and Fiscal Year 2024 Results Ended September 30, 2024. Fourth quarter revenue was $5.437 billion, compared to $5.087 billion in the same period last year. Net profit attributable to common shareholders for the quarter was $421 million, compared to $108 million in the same period last year. Fiscal year revenue was $20.178 billion, compared to $19.372 billion in the previous year. Net profit attributable to common shareholders for the fiscal year was $1.726 billion, compared to $1.424 billion in the previous year.

Fresenius Medical Care Announces Q3 2024 Financial ResultsRevenue for the quarter was €4.76 billion (approximately $5.045 billion), a 4% decrease from €4.936 billion in the same period last year. Operating profit for the quarter was €463 million, a 43% increase from €324 million in the prior-year period. Net profit for the quarter was €213 million, a 153% increase from €84 million in the same quarter last year.

GE HealthCare Reports Q3 2024 Financial Results. Total revenue for the quarter was $4.863 billion, compared to $4.822 billion in the same period last year. Net income attributable to the company's ordinary shareholders for the quarter was $470 million, compared to $375 million in the same period last year.

Royal Philips, a Dutch healthcare company, announced its Q3 2024 financial results. Quarterly sales reached €4.377 billion (approximately $4.638 billion), compared to €4.471 billion in the same period last year. Quarterly operating profit was €337 million, up from €224 million the previous year. Net profit for the quarter was €181 million, compared to €90 million in the same period last year. Diagnostic & Treatment business sales were €2.15 billion, Connected Care business sales were €1.211 billion, and Personal Health business sales were €835 million.

Thermo Fisher Scientific Announces Q3 2024 Financial ResultsRevenue for the quarter was $10.598 billion, compared to $10.574 billion in the same period last year. Net income attributable to the company for the quarter was $1.63 billion, compared to $1.715 billion in the prior-year period. Specifically, revenue from the life sciences business was $2.387 billion, revenue from laboratory products and biopharmaceutical services was $5.74 billion, revenue from specialty diagnostics was $1.129 billion, and revenue from analytical instruments was $1.808 billion.

Roche Announces Financial Results for the First Nine Months of 2024. During this period, the group's sales revenue reached 45 billion Swiss francs, compared to 44.1 billion Swiss francs in the same period last year. Among this, pharmaceutical business sales amounted to 34.3 billion Swiss francs, versus 33.4 billion Swiss francs in the previous year. Diagnostic business sales were 10.7 billion Swiss francs (approximately 12.1 billion US dollars), remaining flat compared to the same period last year.

Boston Scientific announced its financial results for the third quarter of 2024. Net sales for the quarter were $4.209 billion, compared to $3.527 billion in the same period last year. Net income attributable to common shareholders for the quarter was $469 million, compared to $505 million in the same period last year.

Henry Schein Announces Third Quarter 2024 Results. Net sales for the quarter were $3.174 billion, compared to $3.162 billion in the same period last year. Net income attributable to the company for the quarter was $99 million, compared to $137 million in the same period last year.

Cardinal Health Reports First Quarter Fiscal 2024 Results Ended September 30, 2024. Quarterly revenue was $52.3 billion, compared to $54.7 billion in the same period last year. Net income attributable to the company for the quarter was $416 million, compared to a net loss of $12 million in the same period last year. Revenue from medical products and distribution business was $3.1 billion, compared to $3 billion in the same period last year; quarterly profit was $8 million, compared to $12 million in the same period last year.

Owens & Minor Announces Third Quarter 2024 Financial Results. Quarterly revenue was $2.721 billion, compared to $2.592 billion in the same period last year. Quarterly operating profit was $24.2 million, compared to $23.8 million in the same period last year. Quarterly net loss was $12.8 million, compared to a net loss of $6.4 million in the same period last year.

Baxter International Inc. Announces Q3 2024 Financial Results. Net sales for the quarter were $2.699 billion, compared to $2.599 billion in the same period last year. Operating profit for the quarter was $155 million, compared to $179 million in the same period last year. Net income attributable to shareholders for the quarter was $140 million, compared to $2.508 billion in the same period last year.

Solventum (formerly 3M Health Care Business) Announces Q3 2024 Results. Total net sales for the quarter were $2.082 billion, compared to $2.074 billion in the same period last year. Net profit for the quarter was $122 million, compared to $460 million in the same period last year.

Intuitive Surgical Announces Q3 2024 Financial Results. Total revenue for the quarter was $2.038 billion, compared to $1.744 billion in the same period last year. Net income attributable to the company for the quarter was $565 million, compared to $416 million in the same period last year. Revenue from instruments and accessories during the period was $1.264 billion, compared to $1.071 billion in the same period last year. The total number of da Vinci Surgical Systems installed reached 9,539, a 15% increase year-over-year.

Zimmer Biomet Holdings Inc. Announces Q3 2024 Financial Results. Net sales for the quarter were $1.824 billion, compared to $754 million in the same period last year. Operating profit for the quarter was $280 million, compared to $267 million in the same period last year. Net income attributable to the company for the quarter was $249 million, compared to $163 million in the same period last year.

Terumo Reports Financial Results for the First Half of Fiscal Year Ending September 30, 2024 (April-September). Revenue for the period was 508.685 billion yen (approximately $3.28 billion), compared to 443.874 billion yen in the same period last year, representing a year-over-year increase of 14.6%. Operating profit for the period was 87.716 billion yen, compared to 66.492 billion yen in the same period last year, an increase of 31.9%. Net profit attributable to owners of the parent company for the period was 63.204 billion yen, compared to 50.092 billion yen in the same period last year, an increase of 26.2%.

Olympus Announces Financial Results for the First Half of the Fiscal Year Ending September 30, 2024 (April-September). Revenue for the period was 474.029 billion yen (approximately 3.059 billion USD), compared to 431.593 billion yen in the same period last year, representing a 9.8% year-over-year increase. Operating profit for the period was 70.53 billion yen, compared to 3.767 billion yen in the same period last year. Net income attributable to owners of the parent company for the period was 48.978 billion yen, compared to 216.296 billion yen in the same period last year.

Fujifilm Holdings Releases Financial Results for the First Half of the Fiscal Year Ending September 30, 2024 (April-September). During this period, group sales revenue increased by 9.1% year-on-year, reaching 1,514.7 billion yen. Operating profit reached 135.6 billion yen, an increase of 8% year-on-year, while net profit attributable to the group decreased by 2.9% year-on-year, reaching 110.3 billion yen. By business segment, healthcare business revenue increased by 5.3% year-on-year, reaching 472 billion yen (approximately 3.046 billion US dollars). Electronic materials business revenue increased by 34.6% year-on-year, reaching 217.8 billion yen. Imaging business revenue increased by 17.4% year-on-year, reaching 257.2 billion yen. Business innovation revenue increased by 1.5% year-on-year, reaching 567.7 billion yen.

Mindray Releases Q3 2024 Report. In the first three quarters, the company achieved revenue of 29.485 billion yuan (approximately $4.073 billion), a year-on-year increase of 7.99%; net profit attributable to shareholders was 10.637 billion yuan, a year-on-year increase of 8.16%. In Q3 alone, revenue reached 8.954 billion yuan (approximately $1.237 billion), a year-on-year increase of 1.43%; net profit attributable to shareholders was 3.076 billion yuan, a year-on-year decrease of 9.31%.

Canon Group Releases Q3 2024 Financial Report. Group revenue for the quarter increased by 5.3% year-over-year, reaching 1,079.806 billion yen. Operating profit grew by 18.8% year-over-year to 98.164 billion yen. Net profit attributable to the company increased by 10.7% year-over-year, totaling 68.763 billion yen. Among the divisions, revenue from the printing business grew by 7.1% year-over-year, amounting to 610.9 billion yen. Revenue in the medical business remained almost flat compared to the same period last year, at 132.3 billion yen (approximately 8.54 billion U.S. dollars). Revenue from the imaging business increased by 8.6% year-over-year, reaching 229.6 billion yen. Revenue from the industrial business grew by 9.6% year-over-year, totaling 71.272 billion yen.

Ophthalmology

EssilorLuxottica Reports Q3 2024 Results. Total revenue for the quarter was €6.437 billion, compared to €6.294 billion in the same period last year. Revenue from professional solutions amounted to €3.017 billion (approximately $3.198 billion), compared to €2.978 billion in the previous year. Consumer business revenue reached €3.42 billion, compared to €3.316 billion in the same period last year.

Alcon Announces Q3 2024 Financial Results. Net sales and other revenue for the quarter reached $2.454 billion, compared to $2.329 billion in the same period last year. Operating profit for the quarter was $332 million, up from $293 million in the prior-year period. Net profit for the quarter was $263 million, compared to $204 million in the same period last year.

Bausch+Lomb Reports Q3 2024 Financial Results. Revenue for the quarter was $1.196 billion, compared to $1.007 billion in the same period last year. Operating profit for the quarter was $43 million, compared to $40 million in the same period last year. Net income attributable to the company for the quarter was $4 million, compared to a net loss of $84 million in the same period last year.

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