NuVasive posted revenues of $290.8 million in the third quarter of 2019. Here are four statements on current and future performance made by CEO Chris Barry during the company's earnings call, as transcribed by Motley Fool:
On the U.S. spine market: "The U.S. spine market continues to be stable, and by our internal estimates, grew approximately 2 percent in the quarter compared to approximately flat to 1 percent growth over the last 12-to-18 months."
On NuVasive's growth strategy: "We believe balancing innovation around core technology, as well as enabling technology and procedures, is key to sustain and continue above-market growth in U.S. hardware."
On NuVasive's year-to-date performance: "I'd like to close out my formal comments by saying how pleased I am with the strong performance of the organization to date. We are doing what we said we would do at the beginning of the year. There are many growth levers I believe are sustainable for the next several quarters in the U.S. hardware business. This should help drive further confidence in our ability to grow at multiples of market and execute on the financial commitments we communicated to you."
On Nuvasive's three priorities going forward: "No. 1, create disruptive technology and continue to be the leader in spine innovation. No. 2, focus on operational excellence and deliver world-class execution across all aspects of the business. And No. 3, drive profitable growth through a renewed rigor and discipline on operating leverage. With the overall performance this quarter and raise in full year 2019 guidance expectations, I think we're heading in the right direction. We're just getting started with many opportunities to create a further shareholder value by outpacing others with differentiated technology that enables more predictable and reproducible spine surgery."