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Jun 30, 2024
ICU Medical Q2 2024 Earnings Report
Announced second quarter 2024 results.
Key Takeaways
ICU Medical reported second quarter revenue of $596.5 million, compared to $549.3 million in the same period in the prior year. GAAP net loss for the second quarter of 2024 was $(21.4) million, or $(0.88) per diluted share. Adjusted diluted earnings per share for the second quarter of 2024 was $1.56.
Second quarter 2024 revenue was $596.5 million, compared to $549.3 million in the same period in the prior year.
GAAP gross profit for the second quarter of 2024 was $207.4 million, as compared to $192.3 million in the same period in the prior year.
GAAP net loss for the second quarter of 2024 was $(21.4) million, or $(0.88) per diluted share, as compared to GAAP net loss of $(9.9) million, or $(0.41) per diluted share, for the second quarter of 2023.
Adjusted diluted earnings per share for the second quarter of 2024 was $1.56 as compared to $1.88 for the second quarter of 2023.
Revenue by Segment
Forward Guidance
For Fiscal Year 2024 the Company updated its estimates of GAAP net loss from a range of $(127) to $(110) to a range of $(118) to $(108) and GAAP diluted loss per share from a range of $(5.16) to $(4.46) to a range of $(4.78) to $(4.38). The Company updated the estimate of the range of its full year 2024 guidance of adjusted EBITDA from a range of $330 million to $370 million to a range of $345 million to $365 million and diluted earnings per share from a range of $4.40 to $5.10 to a range of $4.95 to $5.35.
Positive Outlook
- Adjusted EBITDA is expected to be between $345 million and $365 million.
- Adjusted diluted earnings per share are expected to be between $4.95 and $5.35.
- Interest, net is expected to be $105 million.
- Stock compensation expense is expected to be $44 million.
- Depreciation and amortization expense is expected to be $229 million.
Challenges Ahead
- GAAP net loss is expected to be between $(118) million and $(108) million.
- GAAP basic/diluted loss per share is expected to be between $(4.78) and $(4.38).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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