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Dec 31, 2023
LeMaitre Vascular Q4 2023 Earnings Report
Reported a strong Q4 2023 with significant sales growth and margin improvement.
Key Takeaways
LeMaitre Vascular reported a 19% increase in sales, reaching $48.9 million, and a gross margin of 68.1%, up 450 bps. Operating income grew by 46% to $10.2 million, and net income increased by 50% to $8.5 million. Earnings per diluted share rose by 49% to $0.38.
Sales increased by 19% to $48.9 million, with organic growth of 14% compared to Q4 2022.
Gross margin improved to 68.1%, a 450 bps increase, driven by higher average selling prices and manufacturing efficiencies.
Operating income grew by 46% to $10.2 million, while operating expenses increased by 21% due to higher sales commissions and regulatory costs.
Net income rose by 50% to $8.5 million, and earnings per diluted share increased by 49% to $0.38.
Revenue by Geographic Location
Forward Guidance
LeMaitre provided guidance for Q1 2024 and full year 2024, projecting sales growth and operating margin improvement.
Positive Outlook
- Q1 2024 sales are expected to be between $50.5 million and $52.9 million, representing approximately 10% growth.
- Full year 2024 sales are projected to be between $209.7 million and $214.3 million, indicating around 10% growth.
- Gross margin is anticipated to be 68.5% for Q1 2024 and 68.0% for the full year 2024.
- Q1 2024 operating income is forecasted to be between $9.7 million and $11.3 million, a 33% increase.
- Full year 2024 operating income is projected to be between $43.4 million and $46.5 million, a 22% increase.
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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