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Sep 30, 2022
Utah Medical Q3 2022 Earnings Report
Achieved financial results that were better than anticipated despite challenges.
Key Takeaways
Utah Medical Products Inc. reported a 3% increase in revenues and a 1.8% increase in net income for Q3 2022 compared to Q3 2021, despite facing cost inflation, supply chain disruption, litigation expenses, and a stronger U.S. Dollar.
Worldwide consolidated sales in all four major product categories were up in 3Q 2022 compared to 3Q 2021 despite a much stronger USD.
Domestic U.S. sales in 3Q 2022 were $8,615 compared to $7,749 in 3Q 2021.
The Company continued to realize substantial increases in manufacturing costs, highlighted by incoming freight on raw materials, which has doubled compared to 2021.
At September 30, 2022, UTMD’s cash and investments increased $8,537 to $69,511 from $60,974 at the end of 2021.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Management expects adjusted consolidated EBITDA of about $28 million for the full year 2022, consistent with previous projections.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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