Q3 2023 Financial Highlights and Product Updates from 27 Global MedTech Leaders Including Medtronic, Johnson & Johnson, Abbott, and Siemens Healthineers

Nov 27, 2023 18:40 CST Updated 18:40

Medtronic

Medical Device Manufacturer

Note: The fiscal year start dates of major companies differ from the calendar year, so there may be inconsistencies between fiscal quarters, fiscal years, and the calendar year. Companies may announce their performance on a quarterly or semi-annual basis.

Medtronic Announces Financial Results for the Second Quarter of Fiscal Year 2023 Ended October 27, 2023. Quarterly net sales were $7.984 billion, compared to $7.585 billion in the same period last year. Net income attributable to the company for the quarter was $909 million, compared to $427 million in the same period last year.

Johnson & Johnson Announces Q3 2023 Financial Results: Revenue Reaches $21.35 Billion with a 6.8% Year-over-Year Increase

Abbott Reports Third-Quarter 2023 Results. Net sales for the quarter were $10.143 billion, compared to $10.410 billion in the same period last year, representing a 2.6% decrease. Net earnings were $1.436 billion, compared to $1.435 billion in the prior-year quarter. By business segment, nutrition sales were $2.073 billion, up 15.5% year-over-year; diagnostics sales were $2.449 billion, down 32.7%. Generic drug sales reached $1.368 billion, a 3.2% increase year-over-year; medical device sales were $4.249 billion, up 16.6%.

Siemens Healthineers Releases Q4 and Full-Year 2023 Financial Results up to September 30, 2023Q4 Revenue: €6.056 billion (approximately $6.6 billion), compared to €6 billion in the same period last year. Adjusted EBIT profit for the quarter was €1.013 billion, compared to €1.011 billion in the same period last year. Net profit for the quarter was €540 million, compared to €636 million in the same period last year. Full-year revenue was €21.68 billion, compared to €21.714 billion last year. Adjusted EBIT profit for the year was €3.081 billion, compared to €3.655 billion last year. Net profit for the year was €1.525 billion, compared to €2.054 billion last year.

Danaher Reports Third Quarter 2023 Results. Quarterly sales were $6.873 billion, compared to $7.663 billion in the same period last year. Net income attributable to common shareholders for the quarter was $1.129 billion, compared to $1.551 billion in the same period last year.

Fresenius Medical Care Reports Q3 2023 Results After Spin-off from Fresenius GroupQ3 Revenue: €4.936 billion (approximately $5.38 billion), compared to €5.096 billion in the same period last year. Operating profit for the quarter was €324 million, compared to €472 million in the prior-year period. Net profit attributable to shareholders for the quarter was €84 million, compared to €230 million in the same period last year.

BD Reports Fourth Quarter and Full Year Results for Fiscal Year Ending September 30, 2023. Fourth quarter revenue was $5.087 billion, compared to $4.761 billion in the same period last year. Net income attributable to common shareholders for the quarter was $108 million, compared to $265 million in the same period last year. Full year revenue was $19.372 billion, compared to $18.87 billion in the previous fiscal year. Full year net income attributable to common shareholders was $1.424 billion, compared to $1.689 billion in the same period last year.

Medical device and equipment manufacturer Stryker reported its Q3 2023 financial results. Net sales for the quarter were $4.909 billion, compared to $4.479 billion in the same period last year. Quarterly net profit was $692 million, compared to $816 million in the same period last year.

Philips Reports Financial Results for Q3 2023. Quarterly sales reached €4.47 billion (approximately $4.87 billion), representing a 4% increase from €4.31 billion in the same period last year. Net profit was €90 million, compared to a net loss of €1.329 billion in the same quarter last year. Adjusted EBITA was €457 million, up from €209 million in the same period last year.

GE HealthCare Reports Q3 2023 Financial Results. Total revenue for the quarter was $4.822 billion, compared to $4.576 billion in the same period last year. Net income attributable to the company's ordinary shareholders for the quarter was $375 million, compared to $487 million in the same period last year.

Thermo Fisher Scientific Announces Q3 2023 Financial Results. Revenue for the quarter was $10.574 billion, compared to $10.677 billion in the same period last year. Net income attributable to the company for the quarter was $1.715 billion, compared to $1.495 billion in the same period last year. Specifically, revenue from the life sciences business was $2.433 billion, revenue from laboratory products and biopharmaceutical services was $5.728 billion, revenue from specialty diagnostics was $1.083 billion, and revenue from analytical instruments was $1.754 billion.

Roche Announces Financial Results for the First Nine Months of 2023. During this period, the group's sales revenue was 44.053 billion Swiss francs, compared to 47.037 billion Swiss francs in the same period last year. Among this, the diagnostic business generated sales of 10.431 billion Swiss francs, compared to 13.848 billion Swiss francs in the same period last year. In the third quarter, the group's sales revenue was 14.274 billion Swiss francs, compared to 14.742 billion Swiss francs in the same period last year. The diagnostic business reported sales of 3.333 billion Swiss francs (approximately 3.77 billion US dollars), compared to 3.9 billion Swiss francs in the same period last year.

Cardinal Health Reports First Quarter Fiscal 2024 Results Ended September 30, 2023. Quarterly revenue was $54.763 billion, compared to $49.603 billion in the same period last year. Net income attributable to the company for the quarter was $5 million, compared to $110 million in the same period last year. Among this, the Medical segment's quarterly revenue was $3.76 billion, compared to $3.778 billion in the same period last year.

Baxter International Inc. Announces Q3 2023 Financial Results. Net sales for the quarter were $3.708 billion, compared to $3.609 billion in the same period last year. Net income attributable to shareholders for the quarter was $2.508 billion, compared to a net loss of $2.937 billion in the same period last year.

Boston Scientific Reports Third Quarter 2023 Results. Net sales for the quarter were $3.527 billion, compared to $3.17 billion in the same period last year. Net income attributable to common shareholders for the quarter was $505 million, compared to $174 million in the same period last year.

Henry Schein Reports Third Quarter 2023 Results. Net sales for the quarter were $3.162 billion, compared to $3.067 billion in the same period last year. The company reported a net loss of $6.4 million for the quarter, compared to a net profit of $12.5 million in the same period last year.

Owens & Minor Reports Third Quarter 2023 Financial Results. Quarterly revenue was $2.592 billion, compared to $2.497 billion in the same period last year. Net income attributable to common shareholders for the quarter was $375 million, compared to $487 million in the same period last year.

3M Reports Third-Quarter 2023 Results. Net sales for the quarter were $8.312 billion, compared to $8.619 billion in the same period last year. The company reported a net loss attributable to the company of $2.075 billion for the quarter, compared to a net profit of $3.859 billion in the same period last year, due to a $4.2 billion pre-tax charge related to the Combat Arms Earplug settlement agreement. By business segment, net sales for Safety and Industrial were $2.751 billion, Transportation and Electronics net sales were $2.171 billion, Consumer net sales were $1.315 billion. Health Care net sales were $2.073 billion, compared to $1.409 billion in the same period last year; operating profit was $460 million, compared to $450 million in the same period last year.

Zimmer Biomet Holdings Inc. Announces Q3 2023 Financial Results. Net sales for the quarter were $1.754 billion, compared to $1.67 billion in the same period last year. Net income attributable to the company for the quarter was $163 million, compared to $194 million in the same period last year.

Fujifilm Holdings Releases Financial Results for the First Half of Fiscal Year 2023 Ending September 30, 2023. Sales revenue for the first half increased by 2.9% year-on-year to 1,388.5 billion yen. Operating profit for the first half reached 125.5 billion yen, a year-on-year increase of 3.9%. Net profit attributable to Fujifilm Group increased by 19.3% year-on-year to 113.6 billion yen. By business segment, sales revenue from healthcare grew by 6.4% year-on-year to 448.2 billion yen (approximately 3 billion USD). Sales revenue from high-performance materials decreased by 7.9% year-on-year to 319.6 billion yen. Imaging sales revenue increased by 19.5% year-on-year to 219.2 billion yen. Business innovation sales increased by 0.8% year-on-year to 401.5 billion yen.

Terumo Reports Financial Results for the First Half of Fiscal 2023 (April-September). Revenue for the period was 443.9 billion yen (approximately $2.97 billion), compared to 403.3 billion yen in the same period last year. Operating profit for the period was 66.5 billion yen, compared to 56 billion yen in the same period last year. Net profit attributable to owners of the parent company for the period was 50.1 billion yen, compared to 40.3 billion yen in the same period last year.

Olympus Announces Financial Results for the First Half of Fiscal Year 2023 (April-September). Revenue for the period was 436.6 billion yen (approximately 2.92 billion USD), compared to 417.1 billion yen in the same period last year. Operating profit for the period was 4.789 billion yen, compared to 93.6 billion yen last year. Net profit attributable to owners of the parent company for the period was 216.3 billion yen, compared to 66.8 billion yen last year.

Medical device and solutions provider Mindray Medical released its Q3 2023 report. In the first three quarters, the company achieved revenue of 27.304 billion yuan, a year-on-year increase of 17.20%; net profit attributable to shareholders was 9.834 billion yuan, a year-on-year increase of 21.38%. In Q3, the company achieved revenue of 8.828 billion yuan (approximately 12.35 billion USD), a year-on-year increase of 11.18%; net profit attributable to shareholders was 3.392 billion yuan, a year-on-year increase of 20.52%.

Canon Group Releases Q3 2023 Financial Report. Quarterly net sales were 1,025.2 billion yen, compared to 996.1 billion yen in the same period last year. Quarterly operating profit was 82.6 billion yen, compared to 81.4 billion yen in the same period last year. Quarterly net profit attributable to the company was 62.1 billion yen, compared to 54.1 billion yen in the same period last year. Among these figures, net sales in the printing business segment increased by 2.8% year-over-year, reaching 570.4 billion yen. Net sales in the imaging business segment grew by 8.7% year-over-year, reaching 220.7 billion yen. Net sales in the medical business segment rose by 5% year-over-year, reaching 132.4 billion yen (approximately 8.85 billion U.S. dollars). Net sales of industrial equipment increased by 9.4% year-over-year, reaching 78.8 billion yen.

Ophthalmology

EssilorLuxottica Releases Q3 2023 Financial Results. Total revenue for the quarter was €6.294 billion, compared to €6.394 billion in the same period last year. Revenue from the professional sector was €2.978 billion (approximately $3.25 billion), while revenue from the consumer sector was €3.316 billion.

Alcon Announces Q3 2023 Financial Results. Net sales and other revenue for the quarter reached $2.329 billion, compared to $2.14 billion in the same period last year. Quarterly net profit was $204 million, up from $116 million in the same period last year.

Bausch+Lomb announced its financial results for the third quarter of 2023. The quarterly revenue was $1.007 billion, compared to $942 million in the same period last year. The net loss attributable to the company for the quarter was $84 million, compared to a net loss of $18 million in the same period last year.

丨Source: PharmaHealth News

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