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Mar 31, 2024
LeMaitre Vascular Q1 2024 Earnings Report
LeMaitre Vascular's Q1 2024 financial performance demonstrated strong growth and improved profitability.
Key Takeaways
LeMaitre Vascular reported a strong Q1 2024 with a 14% increase in sales, driven by allografts, bovine patches, carotid shunts, and distributed porcine patches. The company's gross margin improved by 300 bps to 68.6%, and operating income increased by 51%.
Sales increased by 14% compared to Q1 2023, with organic growth of 11%.
Gross margin improved to 68.6%, a 300 bps increase from the previous year.
Operating income grew by 51% year-over-year, reaching $11.9 million.
Net income increased by 64% compared to Q1 2023.
Revenue by Geographic Location
Forward Guidance
LeMaitre provided guidance for Q2 2024 and full year 2024, including sales, gross margin, operating income, and EPS.
Positive Outlook
- Q2 2024 Sales: $53.7mm - $56.1mm (Mid: $54.9mm, +10% organic)
- Q2 2024 Gross Margin: 68.6%
- Q2 2024 Operating Income: $12.0mm - $13.7mm (Mid: $12.9mm, +36%)
- Q2 2024 EPS: $0.45 - $0.50 (Mid: $0.47, +31%)
- Full Year 2024 Sales: $212.7mm - $217.3mm (Mid: $215.0mm, +11% organic)
Challenges Ahead
- Full Year 2024 Gross Margin: 68.6%
- Full Year 2024 Operating Income: $46.7mm - $49.8mm (Mid $48.3mm, +31%)
- Full Year 2024 Operating Margin (Mid): 22%
- Full Year 2024 EPS: $1.73 - $1.84 (Mid: $1.79, +33%)
- Special charges in 2023 were related to the St. Etienne factory closure.
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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