ICU Medical Q1 2024 Earnings Report
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
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