By Connor Hart

Shares of Globus Medical tumbled after the company posted lower-than-expected earnings and sales in the first quarter, hurt in part by completing fewer deals and supply-chain snarls.

The company also cut its adjusted earnings outlook.

The stock sank 18%, to $59.41, in after-hours trading. Through Thursday's close, shares have gained 13% in the past year, despite having lost 18% of their value over the past three months.

The medical device company after the bell posted a profit of $75.5 million, or 54 cents a share, for the March quarter, compared with a loss of $8 million, or 5 cents a share, a year earlier.

Adjusted per-share earnings of 68 cents came in below the 74 cents that analysts surveyed by FactSet expected.

Revenue fell 1.2% to $598.1 million and missed the $625.9 million that analysts modeled.

Chief Executive Dan Scavilla said the recent quarter was hurt by softer deal closures, temporary integration-related supply-chain disruptions, and the timing of international distributor orders.

Globus Medical now expects adjusted per-share earnings of $3 to $3.30 for the year, down from a prior outlook of $3.10 to $3.40. It backed its full-year sales forecast of $2.8 billion to $2.9 billion.

Analysts are looking for adjusted earnings of $3.44 a share on revenue of $2.68 billion.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 08, 2025 18:43 ET (22:43 GMT)

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