Shares of Avanos Medical (NYSE: AVNS) soared 8.41% in pre-market trading on Wednesday following the company's impressive third-quarter earnings report that surpassed analyst expectations and an upward revision of its full-year guidance.

The medical device company reported quarterly earnings of $0.22 per share, significantly beating the analyst consensus estimate of $0.12 by 83.33%. While this represents a 38.89% decrease from the $0.36 per share reported in the same period last year, the strong beat against expectations has boosted investor confidence. Avanos Medical's quarterly sales reached $177.800 million, surpassing the analyst consensus estimate of $164.500 million by 8.09% and marking a 4.34% increase from the $170.400 million reported in the same quarter of the previous year.

Adding to the positive sentiment, Avanos Medical raised its full-year 2025 outlook. The company now expects annual revenue between $690 million and $700 million, with adjusted earnings per share projected in the range of $0.85 to $0.95. This upward revision in guidance reflects the company's confidence in its growth trajectory, despite noting some uncertainty related to tariffs affecting the financial outlook. The strong performance was driven by double-digit growth in the Specialty Nutrition Solutions (SNS) segment, particularly in enteral feeding and neonate solutions, as well as the positive impact of the Nexus Medical acquisition, which is expected to benefit neonatal and pediatric intensive care units.