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Jun 30, 2022
LeMaitre Vascular Q2 2022 Earnings Report
Reported a decrease in operating income and earnings per share due to a special charge, but experienced sales growth driven by biologics.
Key Takeaways
LeMaitre Vascular reported Q2 2022 financial results with sales of $42.1 million, a 4% increase compared to Q2 2021. The company's gross margin was 66.0%. Operating income decreased by 48% to $5.8 million, while earnings per diluted share decreased by 60% to $0.16. Excluding a special charge, operating income decreased by 20% to $8.9 million, and earnings per diluted share decreased by 26% to $0.29.
Sales reached $42.1 million, representing a 4% increase (+8% organic) compared to Q2 2021.
Gross margin was reported at 66.0%.
Operating income was reported at $5.8 million, a 48% decrease.
Earnings per diluted share was reported at $0.16, a 60% decrease.
Forward Guidance
LeMaitre provided sales, gross margin, and operating income guidance for Q3 2022, Q4 2022, and the full year 2022.
Positive Outlook
- Q3 2022 Sales are expected to be $39.0mm - $41.0mm (Mid: $40.0mm, +4%, +10% Org.)
- Q3 2022 Gross Margin is expected to be 66.7%
- Q3 2022 Operating Income is expected to be $6.8mm - $8.2mm (Mid: $7.5mm, -17%)
- Q3 2022 EPS is expected to be $0.24 - $0.29 (Mid: $0.27, -10%)
- Based on better-than-expected Q2 sales, annual guidance increased to 10% organic growth.
Challenges Ahead
- Q4 2022 Sales are expected to be $41.2mm - $43.2mm (Mid: $42.2mm, +7%, +11% Org.)
- Q4 2022 Gross Margin is expected to be 67.5%
- Q4 2022 Operating Income is expected to be $8.5mm - $9.9mm (Mid: $9.2mm, +10%)
- Q4 2022 EPS is expected to be $0.29 - $0.35 (Mid: $0.32, +15%)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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