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Mar 31, 2021
Merit Medical Q1 2021 Earnings Report
Merit Medical's Q1 2021 results were reported, showing revenue increase and improved profitability.
Key Takeaways
Merit Medical reported a 2.2% increase in revenue to $248.9 million for Q1 2021. The company's GAAP EPS was $0.19, and non-GAAP EPS was $0.52. They also generated $29 million in free cash flow.
Reported revenue increased to $248.9 million, a 2.2% increase year-over-year.
Constant currency revenue, organic, increased by 0.6% compared to the prior year.
GAAP EPS was $0.19, compared to a GAAP loss per share of ($0.06) in the prior year.
Non-GAAP EPS was $0.52, compared to $0.38 in the prior year.
Forward Guidance
Merit Medical updated net revenue expectations for the year ending December 31, 2021, expecting net revenue in the range of $994 million to $1,014 million, representing an increase of approximately 3.1% to 5.2% year over year.
Positive Outlook
- Net revenue in the range of $994 million to $1,014 million, representing an increase of approximately 3.1% to 5.2% year over year.
- The updated net revenue range assumes a benefit from the changes in foreign currency exchange rates in the range of approximately $8.0 million to $8.5 million.
- Net revenue from the cardiovascular segment of between $963 million and $982 million, representing an increase of approximately 3.1% to 5.2% year-over-year.
- Net revenue from the endoscopy segment of between $30.8 million and $31.9 million, representing an increase of approximately 4% to 7% year-over-year.
- GAAP net income in the range of $47.3 million to $55.9 million, or $0.83 to $0.98 per diluted share.
Challenges Ahead
- Guidance is subject to risks and uncertainties identified in this release and Merit’s filings with the SEC.
- Potential inability to successfully manage growth through acquisitions generally.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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