The following is a summary of the Terumo Corporation (TRUMF) Q3 2024 Earnings Call Transcript:
Financial Performance:
Terumo Corporation reported highest ever revenue in Q3 2024 due to double-digit growth in revenue, operating profit, and annual profit.
Profits grew by 9% YoY excluding FX.
Factors such as price increases, profitability improvement measures, and inflation ease drove increase in operating profit.
Gross profit increased beyond expected, even with increased SG&A factors like price policy revision and bolstered sales force in North America.
Business Progress:
Revenue was mainly driven by TIS and Vascular Graft businesses of the Cardiac and Vascular Company and blood center business of the Blood and Cell Technologies Company.
Expansion of therapeutic devices in North America is evident by the shift from negative to positive gross margin in H2.
While therapeutic devices remain strong in main markets, emerging markets like Asia and The Middle East also contributed to growth rate.
Volume-based procurement in China impacted Q3.
Annual guidance has been revised upward especially for Cardiac and Vascular, and Blood and Cell Technologies predicting a continued profitability improvement in Q4 despite a downward revision of Medical Care Solutions.
More details: TERUMO CORP IR
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