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Mar 31, 2023
LeMaitre Vascular Q1 2023 Earnings Report
Reported a sales increase driven by growth across most products and geographies, along with a quarterly dividend announcement and forward guidance.
Key Takeaways
LeMaitre Vascular reported Q1 2023 results with sales of $47.1 million, a 19% increase compared to Q1 2022. Organic growth was 22%. Operating income was $7.9 million, a 1% decrease, and net income remained flat at $6.0 million. The company announced a quarterly dividend of $0.14/share and provided Q2 and full-year guidance.
Sales increased by 19% to $47.1 million, with 22% organic growth compared to Q1 2022.
Operating income decreased slightly by 1% to $7.9 million.
Net income remained flat at $6.0 million.
The company announced a quarterly dividend of $0.14 per share.
Forward Guidance
LeMaitre provided guidance for Q2 2023 and full-year 2023, including revenue, gross margin, operating income, and EPS estimates. The guidance includes the impact of the Aziyo distribution agreement.
Positive Outlook
- Q2 2023 sales are projected to be between $47.1 million and $49.5 million.
- Full year 2023 sales are projected to be between $187.1 million and $193.1 million.
- Q2 2023 EPS is projected to be between $0.30 and $0.35.
- Full year 2023 EPS is projected to be between $1.14 and $1.27.
- The company expects to generate a 50% gross margin on Aziyo sales.
Challenges Ahead
- Q2 2023 gross margin is expected to be 65.0%.
- Q2 2023 operating income is projected to be between $8.0 million and $9.6 million.
- Full year 2023 operating income is projected to be between $32.0 million and $35.9 million.
- Guidance includes impact of currency exchange rate fluctuations and Aziyo distribution.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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