Surgical Science Q1 2023: Outperformers tend to keep outperforming

Research Update

2023-05-17

07:05

Redeye updates its estimates following Surgical Science’s Q1 2023 report, which took our forecasts to the woodshed. Educational Products sales came in c35% above our estimate. The company posted strong EBITDA and EBIT margins; both c2%-points higher than we anticipated. We believe that growth will moderate in the future while margin expansion continues. We raise our estimates and valuation.

CB

JU

Christian Binder

Johan Unnerus

Disclosures and disclaimers

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