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Jun 30, 2020
LeMaitre Vascular Q2 2020 Earnings Report
LeMaitre Vascular reported a decrease in sales and net income due to the COVID-19 pandemic, while operating margin remained strong and the acquisition of Artegraft was completed.
Key Takeaways
LeMaitre Vascular's Q2 2020 sales decreased by 16% compared to Q2 2019, with a net income decline of 24%. However, the company maintained a solid operating margin of 20% and completed the acquisition of Artegraft.
Sales decreased by 16% year-over-year, with a 24% organic decline.
Operating income decreased by 18%, but adjusted operating income increased by 3% excluding acquisition-related special items.
Net income decreased by 24%, with earnings per diluted share down by 25%.
The company acquired Artegraft for $90.0 million on June 22, 2020.
Forward Guidance
Due to COVID-19 uncertainties, guidance is limited to Q3 2020, projecting sales of $30.5mm - $34.5mm, operating income of $5.3mm - $7.8mm, and EPS of $0.17 - $0.26.
Positive Outlook
- Projected Q3 2020 sales between $30.5 million and $34.5 million (Midpoint:+12%).
- Projected Q3 2020 operating income between $5.3 million and $7.8 million (Midpoint:+11%).
Challenges Ahead
- Projected Q3 2020 EPS between $0.17 and $0.26 (Midpoint: -15%).
- Uncertainties driven by the COVID-19 pandemic limit financial guidance to Q3 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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