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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.
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
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).
- Restructuring, strategic transaction and integration expenses are expected to be $50 million.
- Quality and regulatory initiatives and remediation expenses are expected to be $35 million.
- Change in fair value of contingent earn-out is expected to be $(4) million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income