Solid earnings and tariff break awaken ResMed price
The ASX-listed company lifted its third-quarter revenue eight per cent to $1.3 billion, boosted its earnings per share by more than a fifth and reported operating cash flow of $579 million.
"It's a great performance by the team - 10,000 'ResMedians' selling in 140 countries in this crazy environment that's going on right now," CEO Mick Farrell told AAP.
"But they just focus - laser focus."
The group makes devices and other products for people with sleep apnoea, insomnia and obstructive pulmonary disease - a potential target market of 2.3 billion people worldwide.
In markets where the $1300 starting price for a continuous positive airway pressure (CPAP) machine and a $200 mask are out of reach, ResMed offers a subscription service.
Shares in the company soared more than seven per cent after the earnings call, helped by an exemption to US tariffs, which could have impacted its manufacturing plants in Singapore and Australia.
ResMed's products are exempted by the Nairobi Protocol, launched in 1982 under then US president Ronald Reagan to protect products made for people with a disability.
US Customs and Border Protection reaffirmed ResMed's devices were tariff-free on April 5, two days after President Trump's "Liberation Day" tariffs sent markets into a tailspin, wiping trillions of dollars from global markets.
"We are now bringing products over tariff-exempt and we'll continue to do so," Mr Farrell said.
Tariffs aside, global uncertainty and lumbering growth could affect consumer behaviour, but Mr Farrell was optimistic about maintaining momentum.
"We're not selling iPhones or Teslas or disposable electronic goods," he said.
"We're selling medical products that save your life."
Patients using ResMed's pressure machine therapy have a 37 per cent lower risk of death, according to meta-analysis in medical journal The Lancet.
The risk of death by heart attack for pressure machine patients fell by 55 per cent.
Mr Farrell had faith in global growth returning despite the US tariff turbulence, but in the meantime he was grateful for medical tech's position to weather the storm.
"Challenges breed opportunities, and people talk about luck, but ... luck is an overlap of preparation and opportunity," he said.
"And in that little Venn diagram I'm seeing a lot of luck could come our way."
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Perth Now
37 minutes ago
- Perth Now
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News.com.au
an hour ago
- News.com.au
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News.com.au
an hour ago
- News.com.au
Resources Top 5: Many Peaks charges to record high on broad, high-grade gold in Côte d'Ivoire
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There were 35.1m fully paid ordinary shares issued at 2.5c per share with DAL also issuing 11.7m 1:3 free attaching options, exercisable at $0.036 each, expiring on August 23, 2029. The placement was conducted on an invitation only basis and cornerstoned by existing large shareholders of the company, Dalaroo's in-country partners in Cote d'Ivoire and all three directors. Bids received were significantly in excess of the minimum amount sought. Beacon Minerals (ASX:BCN) After stage 2 grade control drilling at the Lady Ida gold project in WA returned bonanza-grade intersections, Beacon Minerals (ASX:BCN) reached $1.67, a high of almost six years and a lift of 28.96% on the previous close. The 298-hole program for 16,506m, the largest RC drill program ever conducted by BCN, was aimed at increasing geological confidence in the Iguana stage 1 pit and results have been received from the first batch of 2,970 assays from multiple mineralised zones. Significant intersections include: 5m at 39.3g/t Au from 49m, including 1m at 179g/t from 49m; 6m at 46.8g/t Au from 32m, including 2m at 135.5g/t from 32m; 2m at 39.9g/t Au from 41m, including 1m at 75.9g/t from 41m; and 2m at 21.9 g/t Au from 18m. Beacon expects the remaining 13,536 assay results to be received over the next six to eight weeks. This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Many Peak Minerals and Terra Metals are Stockhead advertisers, they did not sponsor this article.
