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Jun 30, 2024
Merit Medical Q2 2024 Earnings Report
Merit Medical's financial performance exceeded expectations in Q2 2024, driven by strong momentum and strategic initiatives.
Key Takeaways
Merit Medical reported a 5.6% increase in revenue to $338.0 million for Q2 2024. The company's GAAP EPS rose by 75.7% to $0.61, while non-GAAP EPS increased by 16.8% to $0.92. Merit Medical also raised its full-year guidance.
Reported revenue increased by 5.6% year-over-year, reaching $338.0 million.
GAAP operating margin improved to 13.6%, compared to 9.0% in the prior year period.
Non-GAAP operating margin increased to 20.1%, compared to 19.1% in the prior year period.
GAAP EPS grew by 75.7% to $0.61, and non-GAAP EPS increased by 16.8% to $0.92.
Merit Medical
Merit Medical
Merit Medical Revenue by Segment
Revenue by Segment
Petroleum Additives Revenue
CapyFin.comSpecialty Materials Revenue
CapyFin.comAll Other Revenue
CapyFin.com Forward Guidance
Merit Medical updated its full-year 2024 financial guidance, reflecting stronger-than-expected organic results and the acquisition of EndoGastric Solutions. The company projects net sales between $1.335 billion and $1.345 billion and non-GAAP earnings per share between $3.27 and $3.35.
Positive Outlook
- Net Sales: $1,335 - $1,345 million (6% - 7% Y/Y growth)
- Cardiovascular Segment: $1,281 - $1,289 million (5% - 6% Y/Y growth)
- Endoscopy Segment: $54 - $56 million (45% - 52% Y/Y growth)
- Non-GAAP Earnings Per Share: $3.27 - $3.35 (15% - 17% Y/Y growth)
- The updated guidance reflects the EndoGastric Solutions acquisition.
Challenges Ahead
- Guidance is subject to risks and uncertainties.
- Material acquisitions, non-recurring transactions, or other factors could impact results.
- Merit is unable to predict the financial impact of various items which could impact Merit’s future financial results
- Merit is not, without unreasonable effort, able to reliably predict the impact of these items and Merit believes inclusion of a reconciliation of these forward-looking non-GAAP measures to their GAAP counterparts could be confusing to investors or cause undue reliance.
- The 2024 financial guidance is excluding material acquisitions, non-recurring transactions or other factors beyond Merit’s current expectations
Revenue & Expenses
Visualization of income flow from segment revenue to net income