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Sep 30, 2021
Utah Medical Q3 2021 Earnings Report
Financial performance demonstrated recovery after restrictions on nonessential medical procedures during the COVID-19 pandemic.
Key Takeaways
Utah Medical Products reported a strong recovery in Q3 2021, with revenues up 20% compared to Q3 2020 and a net income increase of 43.4%. The company exceeded its objective to recover back to its 2019 financial performance.
Total consolidated sales were $12,572, up 20% compared to Q3 2020.
Domestic U.S. sales increased by 11%, while sales outside the U.S. (OUS) increased by 37%.
Net income was $4,206, a 43.4% increase compared to Q3 2020.
Earnings per share (EPS) were $1.150, a 43.2% increase compared to Q3 2020.
Revenue by Segment
Forward Guidance
Management expects adjusted consolidated EBITDA of more than $26 million for the full year 2021, and $28 million in 2022.
Positive Outlook
- Adjusted consolidated EBITDA of more than $26 million expected for the full year 2021.
- Adjusted consolidated EBITDA of $28 million expected in 2022.
Challenges Ahead
- Risk factors that could cause results to differ materially from those projected include global economic conditions.
- Market acceptance of products.
- Regulatory approvals of products.
- Regulatory and government intervention in healthcare in general.
- Tax reforms, cybersecurity and foreign currency exchange rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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