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Mar 31, 2022
Integra LifeSciences Q1 2022 Earnings Report
Integra LifeSciences reported better-than-expected first quarter revenue with organic growth exceeding five percent.
Key Takeaways
Integra LifeSciences reported a 4.6% increase in revenue to $376.6 million in Q1 2022. GAAP earnings per diluted share were $0.39, while adjusted earnings per diluted share were $0.74. The company raised its full-year 2022 organic growth guidance to a new range of 3.8% to 5.2%.
Revenues of $376.6 million increased 4.6% on a reported basis and 5.6% on an organic basis compared to the prior year.
GAAP earnings per diluted share of $0.39, compared to $0.53 in the first quarter of 2021; adjusted earnings per diluted share of $0.74, compared to $0.69 in the prior year.
The Company is raising its previous full-year 2022 organic growth guidance of 3.5% to 5% to a new range of 3.8% to 5.2%, reflecting the better than expected first quarter revenue results.
NeuraGen® 3D, the Company's new peripheral nerve repair product, launched late in the first quarter.
Forward Guidance
For the second quarter 2022, the Company expects reported revenues in the range of $392 million to $400 million, representing reported growth of approximately 0.5% to 2.5% and organic growth of approximately 2.8% to 4.8%. Adjusted earnings per diluted share are expected to be in a range of $0.78 to $0.82. For the full year 2022, the Company is raising its organic growth expectations from an initial range of 3.5% to 5% to now 3.8% to 5.2%.
Positive Outlook
- Company expects reported revenues in the range of $392 million to $400 million
- Company expects reported growth of approximately 0.5% to 2.5%
- Company expects organic growth of approximately 2.8% to 4.8%
- Adjusted earnings per diluted share are expected to be in a range of $0.78 to $0.82.
- Company is raising its organic growth expectations from an initial range of 3.5% to 5% to now 3.8% to 5.2%.
Challenges Ahead
- Reflects current uncertainty in global markets
- Reflects continuing supply constraints
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