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Mar 31, 2024
ICU Medical Q1 2024 Earnings Report
ICU Medical's first quarter results were generally in line with expectations.
Key Takeaways
ICU Medical reported first quarter revenue of $566.7 million, a slight decrease compared to $568.6 million in the same period last year. The company's GAAP net loss was $(39.5) million, or $(1.63) per diluted share, compared to a net loss of $(9.8) million, or $(0.41) per diluted share, for the first quarter of 2023. Adjusted diluted earnings per share were $0.96, down from $1.74 in the prior year.
First quarter revenue was $566.7 million, slightly lower than $568.6 million in the same period last year.
GAAP gross profit was $185.2 million, compared to $192.0 million in the prior year.
GAAP net loss was $(39.5) million, or $(1.63) per diluted share, compared to $(9.8) million, or $(0.41) per diluted share, in the first quarter of 2023.
Adjusted EBITDA was $78.8 million, down from $102.0 million in the first quarter of 2023.
ICU Medical
ICU Medical
ICU Medical Revenue by Segment
Revenue by Segment
Consumables Revenue
CapyFin.comInfusion Systems Revenue
CapyFin.comVital Care Revenue
CapyFin.com Forward Guidance
ICU Medical provided its fiscal year 2024 outlook.
Positive Outlook
- Interest, net: 105 million
- Stock compensation expense: 40 million
- Depreciation and amortization expense: 229 million
- Restructuring, strategic transaction and integration: 40 million
- Quality and regulatory initiatives and remediation: 45 million
Challenges Ahead
- GAAP net loss: $(127) million to $(110) million
- GAAP diluted loss per share: $(5.16) to $(4.46)
- Stock compensation expense: 1.63
- Tax expense from valuation allowance: 1.49
- Estimated income tax impact from adjustments: (2.55)
Revenue & Expenses
Visualization of income flow from segment revenue to net income