Very happy with todays quarterly results from Resmed. Very good growth in devices, consumables, market share and cost improvements too. Revenue up 11%, gross margins up 4%, EPS up 42%, albeit they were comping a flatish quarter last year.
What was also really good to hear was how CEO Mick Farrell talked about the business and the future. Great commentary around helping patients, improving lives, embracing rather than talking down competition, capital allocation thinking, acknowledging the great work of the team etc. These are excellent qualities for a leader to have and there is not a lot of hubris coming through despite their dominant market position.
There was also really positive data about how GLP 1 drugs are proving to be a tailwind rather a headwind as first feared. And also some good signs for what's happening with sleep apnea and wearables that are creating demand.
If you own RMD or have it on your watchlist, this call is well worth a listen and results also here - https://event.choruscall.com/mediaframe/webcast.html?webcastid=AyogqgdH
https://investor.resmed.com/news-events/press-releases/detail/390/resmed-inc-announces-results-for-the-first-quarter-of-fiscal-year-2025
