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Mar 31, 2022
LeMaitre Vascular Q1 2022 Earnings Report
LeMaitre reported Q1 2022 results, announced a quarterly dividend, and provided guidance.
Key Takeaways
LeMaitre Vascular reported a 10% increase in sales to $39.6 million in Q1 2022, with organic growth of 13%. Operating income remained flat at $7.9 million, while net income increased by 2% to $6.0 million. The company's cash and investments increased by $0.9 million to $70.9 million.
Sales increased by 10% to $39.6 million, with 13% organic growth.
Operating income was flat at $7.9 million, resulting in a 20% operating margin.
Net income increased by 2% to $6.0 million.
Cash and investments increased by $0.9 million to $70.9 million.
Forward Guidance
The company provided Q2 and full year 2022 guidance, with sales, gross margin, operating income, and EPS estimates. Full year 2022 sales guidance was lowered by $2.0 million due to a $3.0 million negative impact from the stronger U.S. dollar. 2022 organic sales growth guidance is up slightly to 8.2%.
Positive Outlook
- Q2 2022 Sales: $40.1mm - $42.1mm (+1%, +5% Org.)
- Q2 2022 Gross Margin: 65.3%
- Q2 2022 Op. Income Excluding Special Charges: $8.3mm - $9.6mm
- Q2 2022 EPS Excluding Special Charges: $0.29 - $0.35
- Full Year 2022 Organic Sales Growth guidance is up slightly to 8.2%
Challenges Ahead
- Full year 2022 sales guidance was lowered by $2.0mm
- Q2 2022 Op. Income: $5.7mm - $7.0mm (-43%)
- Q2 2022 EPS: $0.20 - $0.25 (-43%)
- Full Year 2022 Op. Income: $31.4mm - $34.0mm (-10%)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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