ICU Medical Q2 2023 Earnings Report
Key Takeaways
ICU Medical reported second quarter revenue of $549.3 million, a decrease compared to $561.0 million in the same period last year. The company's GAAP gross profit increased to $192.3 million from $167.6 million, with a gross margin of 35% compared to 30% last year. GAAP net loss was $(9.9) million, or $(0.41) per diluted share, while adjusted diluted earnings per share was $1.88. Adjusted EBITDA was $98.1 million, compared to $84.7 million in the same quarter of the previous year.
Second quarter revenue reached $549.3 million.
GAAP gross profit increased to $192.3 million with a gross margin of 35%.
GAAP net loss was $(9.9) million, or $(0.41) per diluted share.
Adjusted diluted earnings per share was $1.88.
ICU Medical
ICU Medical
ICU Medical Revenue by Segment
Forward Guidance
ICU Medical narrowed the estimates of the range of its full year 2023 guidance of adjusted EBITDA from a range of $375 million to $425 million to a range of $375 million to $405 million and adjusted diluted earnings per share from a range of $5.75 to $7.25 to a range of $6.00 to $6.85.
Positive Outlook
- Adjusted EBITDA is expected to be between $375 million and $405 million.
- Adjusted diluted earnings per share are projected to be between $6.00 and $6.85.
Challenges Ahead
- GAAP net loss is estimated to be in the range of $(59) million to $(38) million.
- GAAP diluted loss per share is estimated to be in the range of $(2.42) to $(1.57).
Revenue & Expenses
Visualization of income flow from segment revenue to net income