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Dec 31, 2022
Merit Medical Q4 2022 Earnings Report
Merit Medical reported Q4 2022 results, with revenue up 5.4% compared to Q4 2021 and GAAP EPS of $0.58.
Key Takeaways
Merit Medical Systems, Inc. reported revenue of $293.4 million for Q4 2022, a 5.4% increase compared to the same period in 2021. The company's GAAP operating margin was 10.4%, and non-GAAP operating margin was 17.8%. GAAP EPS was $0.58, and non-GAAP EPS was $0.79.
Q4 2022 reported revenue of $293.4 million, up 5.4% compared to Q4 2021
Q4 2022 constant currency revenue, organic up 8.2% compared to Q4 2021
Q4 2022 GAAP operating margin of 10.4%, compared to 7.9% in Q4 2021
Q4 2022 non-GAAP operating margin of 17.8%, compared to 17.4% in Q4 2021
Revenue by Segment
Forward Guidance
Merit Medical provided financial guidance for the year ending December 31, 2023, expecting net sales between $1.194 and $1.210 billion and GAAP earnings per share between $1.72 and $1.80.
Positive Outlook
- Net Sales: $1.194 - $1.210 billion
- Cardiovascular Segment: $1.156 - $1.172 billion
- Endoscopy Segment: $37.5 - $37.8 million
- GAAP Net Income: $100 - $105 million
- GAAP Earnings Per Share: $1.72 - $1.80
Challenges Ahead
- Estimated impact of foreign currency exchange rate fluctuations: -1%
- Subject to risks and uncertainties
- Disruptions in Merit’s supply chain, manufacturing or sterilization processes
- Reduced availability of, and price increases associated with, commodity components and other raw materials
Historical Earnings Impact
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Avg. Return Before/After Earnings
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