Earnings Call
Aug 6, 2026
Q2 FY2026
EPS Estimate
2.89
EPS Actual
2.95
Post-Earnings Close
$211.94
Earnings Reaction
-5.1%
ResMed's fiscal second quarter 2026 results demonstrated broad-based momentum across devices, masks, and software, with headline revenue of $1.42 billion representing 11% growth (9% constant currency) and GAAP EPS growth of 16%. The standout result was gross margin expansion of 310 basis points year-over-year on a GAAP basis, with non-GAAP gross margin reaching 62.3%, a 110 basis point improvement, driven by component cost reductions and manufacturing and logistics efficiencies. Management raised the full-year gross margin guidance range to 62%-63%, signaling confidence in the durability of supply chain productivity gains. CEO Mick Farrell has publicly challenged the supply chain team to deliver double-digit basis point gross margin improvement every year through 2030, a target that, if achieved, would represent a meaningful structural re-rating of the earnings profile.
Report generated on Aug 6, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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