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Jun 30, 2024
LeMaitre Vascular Q2 2024 Earnings Report
Reported an 11% increase in sales and a gross margin of 68.9%, with operating income up by 52%.
Key Takeaways
LeMaitre Vascular reported strong Q2 2024 results, with sales up 11% and operating income increasing by 52%. The company also announced a quarterly dividend of $0.16 per share and provided forward guidance indicating continued growth.
Sales increased by 11% compared to Q2 2023, with organic growth of 12%.
Gross margin improved to 68.9%, a 490 bps increase.
Operating income rose by 52% to $14.4 million.
Earnings per diluted share increased by 44% to $0.52.
Forward Guidance
LeMaitre provided guidance for Q3 2024 and full year 2024, expecting continued sales and operating income growth. The company anticipates a 23% operating margin for the full year.
Positive Outlook
- Q3 2024 Sales: $52.7mm - $54.7mm (Mid: $53.7mm, +13%, +14% Org.)
- Q3 2024 Gross Margin: 68.0%
- Q3 2024 Operating Income: $11.3mm - $12.7mm (Mid: $12.0mm, +31%)
- Q3 2024 EPS: $0.42 - $0.46 (Mid: $0.44, +32%)
- Full Year 2024 Sales: $216.8mm - $220.8mm (Mid: $218.8mm, +13%, + 13% Org.)
Challenges Ahead
- Full Year 2024 Gross Margin: 68.4%
- Full Year 2024 Operating Income: $49.7mm - $52.5mm (Mid $51.1mm, +39%)
- Full Year 2024 Operating Income (Ex-Special): (Mid: $51.1mm, +37%)*
- Full Year 2024 EPS: $1.82 - $1.91 (Mid: $1.86, +39%)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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