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Sep 30, 2024
Utah Medical Q3 2024 Earnings Report
Financial performance decreased on the top line but improved on the bottom line.
Key Takeaways
Utah Medical Products reported a decrease in revenue but an increase in net income margin for Q3 2024. Revenue was down 20% compared to Q3 2023, while net income decreased by 9.4%. Earnings per share decreased by 5.2% due to share repurchases and a lower income tax provision rate.
Worldwide consolidated sales decreased by 20% compared to Q3 2023.
Domestic U.S. sales were 21.7% lower, and sales outside the U.S. were 17.6% lower.
Earnings per share decreased by 5.2% compared to Q3 2023.
Net income margin increased due to higher net non-operating income and a lower income tax provision rate.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Management now expects that WW PendoTECH biopharmaceutical OEM sales will be $6 million lower in 2024 than in 2023, representing less than 7% of 2024 total consolidated sales compared to 17% in 2023. Along with the decline in Filshie Clip System sales, this suggests a total annual 2024 consolidated sales decline of 18% to 19% compared to 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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