|Over a month ago|
Cantel Medical reports Q3 non-GAAP EPS 16c, consensus 12c » 07:0606/0406/04/20
Reports Q3 revenue…
Reports Q3 revenue $236.9M, consensus $235.41M. Excluding the impact from foreign currency, net sales increased by 4.2%, primarily driven by the impact from acquisitions of 15.5% offset by an organic decline of 11.3%. The decline in organic sales was a result of the reduction of elective procedures driven by the worldwide COVID pandemic, which largely impacted the last five weeks of Q3. The pandemic primarily impacted the company's Medical and Dental segments during this period.
Cantel Medical to offer $150M of convertible senior notes due 2025 07:3605/1205/12/20
Cantel Medical takes actions to preserve cash flow » 07:3505/1205/12/20
Given the COVID-related…
Given the COVID-related government lockdowns and social distancing initiatives, the company has seen a deferral of elective medical and dental procedures across markets in which Cantel operates. The company reacted early to these headwinds to ensure that it could protect its employees, deliver resilience across its supply chain and best position itself for the recovery period during which such deferred procedures will resume. Ultimately, the Company believes that the core value proposition of its 'complete circle of protection' offering of infection prevention solutions are even more critical and relevant as we serve customer needs in the post-COVID recovery. Operationally, the company has taken significant measures to ensure that its supply chain remains fully operational through the crisis, with all facilities open and manufacturing, while adhering to local regulations. The company has taken the following actions to preserve cash flow through this period: Deployed workforce furloughs across manufacturing sites experiencing declines in demand, along with temporary furloughs and decreases in pay for administrative personnel; Deferred all non-essential capital expenditures; Canceled all non-essential travel; Reduced inventory in areas where demand has decreased, including aggressive material management to limit purchasing; Suspended any dividend through at least October 31, 2021; Suspended and reduced executive salaries and Board of Directors compensation.
Cantel Medical withdraws FY20 guidance » 07:3305/1205/12/20
Given the significant…
Given the significant uncertainty related to the COVID pandemic, the company is withdrawing its financial guidance for fiscal year 2020.
Cantel Medical sees Q3 revenue $235M-$237M, consensus $242.63M » 07:3205/1205/12/20
As stated previously, the…
As stated previously, the government lockdowns and social distancing initiatives related to the COVID pandemic have led to disruption across many of the markets in which Cantel operates. This disruption had the most pronounced impact over the last five weeks of Cantel's third quarter, which ended April 30. Revenue for the third quarter is estimated at $235M-$237M, down approximately 18% sequentially vs. the prior quarter. Over the last five weeks of the third quarter, the segments of the business most exposed to electives procedures were down approximately 65% versus the second quarter of fiscal year 2020. The company expects this recent weakness to continue into its fourth quarter, and gradually improve as elective procedures are restored in its end markets. The company expects to provide a complete update of its financial results for the third quarter on June 4.
|Over a quarter ago|
Cantel Medical accelerating surgical earloop mask production » 11:0204/0104/01/20
Cantel Medical announced…
Cantel Medical announced specific areas of focus and associated actions to combat the COVID-19 virus. "In these unprecedented times, the company is concentrating on enhanced production, product innovation and value-add COVID-19 education in support of first-responders and other healthcare professionals," Cantel said. The company added: "Cantel has focused on accelerating surgical earloop mask production by its HuFriedyGroup dental division, increasing manufacturing to 24 hours a day, seven days a week at the organization's two New York manufacturing sites and expanding manufacturing lines to increase production volume by over 50%. The enhanced hours and expanded production capacity have enabled the production of over 4.4M masks per week to serve healthcare professionals. Recently, the organization has increased its manufacturing output on protective face shields by 50% and anticipates an increase of output by 100% in two weeks. These products are being deployed to medical and dental customers. In addition to masks, HuFriedyGroup is focused on increasing sourcing through sub-suppliers to increase product availability on key products lines such as hand sanitizer, hand sanitizing wipes, protective eye wear, and surface disinfectants. These products span a variety of HuFriedyGroup brands including Crosstex, Hu-Friedy, and Palmero."
Cantel Medical falls -16.4% » 10:0003/0503/05/20
Cantel Medical is down…
Cantel Medical is down -16.4%, or -$10.36 to $52.90.
Cantel Medical falls -10.6% » 09:4703/0503/05/20
Cantel Medical is down…
Cantel Medical is down -10.6%, or -$6.70 to $56.56.
Cantel Medical trading resumes 09:4503/0503/05/20
Cantel Medical trading halted, volatility trading pause 09:4003/0503/05/20