Masimo Clocks 85% Jump In Quarterly Sales, Provides Q3 Guidance Below Expectations

Masimo Corp's MASI Q2 revenue increased 85.3% Y/Y to $565.3 million, beating the consensus of $540.56 million.
Healthcare revenue was $357.0 million, +17% on reported basis and 19.0% on constant currency. Non-healthcare revenue was $208.3 million.
Excluding handheld and fingertip pulse oximeters, shipments of noninvasive technology boards and instruments were 77,100, +6.3%.
Joe Kiani, Chairman & CEO, said, "Our healthcare business fulfilled most of the delayed shipments from the first quarter by increasing manufacturing output, which boosted our growth in the second quarter."
The company reported an adjusted EPS of $1.35, compared to $0.94 a year ago, beating the consensus of $1.20.
Masimo recently approved a new repurchase program of up to 5 million shares.
Guidance: Masimo expects FY22 adjusted EPS of $4.34-$4.57, versus the previous guidance of $4.46 - $4.73 and the consensus of $4.52.
The company projects sales of $1.99 billion-$2.05 billion, slightly below the prior guidance of $2 billion-$2.06 billion, compared to the consensus of $2.06 billion.
For Q3, the company sees sales of $515 million-$545 million and adjusted EPS of $0.85-$0.97, below the consensus of $553.16 million and $1.13, respectively.
Price Action: MASI shares closed lower by 4.17% at $148.17 on Tuesday.

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