Avanos Medical, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 20, 2024 at 07:06 am EST
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Avanos Medical, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 173.3 million compared to USD 181.6 million a year ago. Net income was USD 10.5 million compared to USD 16.9 million a year ago. Basic earnings per share from continuing operations was USD 0.24 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.24 compared to USD 0.21 a year ago. Basic earnings per share was USD 0.23 compared to USD 0.36 a year ago. Diluted earnings per share was USD 0.23 compared to USD 0.36 a year ago.
For the full year, sales was USD 673.3 million compared to USD 684.1 million a year ago. Net loss was USD 61.8 million compared to net income of USD 50.5 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to basic earnings per share from continuing operations of USD 0.46 a year ago. Diluted loss per share from continuing operations was USD 0.21 compared to diluted earnings per share from continuing operations of USD 0.46 a year ago. Basic loss per share was USD 1.32 compared to basic earnings per share of USD 1.08 a year ago. Diluted loss per share was USD 1.32 compared to diluted earnings per share of USD 1.07 a year ago.
Avanos Medical, Inc. is a medical device company, which is focused on delivering solutions. The Company offers healthcare needs, such as providing nutrition to patients from hospital to home and reducing the use of opioids while helping patients move from surgery to recovery. The Company conducts its business in one segment that provides its medical device products to healthcare providers and patients globally with manufacturing facilities in the United States and Mexico. Its digestive health products include MIC-KEY enteral feeding tubes, Corpak patient feeding solutions and NeoMed neonatal and pediatric feeding solutions. The Companyâs acute pain products include ON-Q and ambIT surgical pain pumps and Game Ready cold and compression therapy systems. The Company's interventional pain solutions include COOLIEF pain therapy and OrthogenRxs knee osteoarthritis pain relief injection products.
AVANOS MEDICAL, INC. 
