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Dec 31, 2023
Utah Medical Q4 2023 Earnings Report
Utah Medical experienced a decrease in revenues and net income, but EPS remained consistent year-over-year.
Key Takeaways
Utah Medical Products reported a decrease in Q4 revenues by 9.1% and a decrease in net income by 5.9%. EPS also decreased by 5.8%. The company's balance sheet remains strong with increased cash and investments.
Total consolidated worldwide sales decreased by 9.1% compared to Q4 2022.
Domestic U.S. sales decreased by 10.7%, while OUS sales decreased by 7.2%.
Net income decreased by 5.9% compared to Q4 2022.
Diluted EPS decreased to $1.180 compared to $1.253 in Q4 2022.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
UTMD expects further dilution of its GP margin in 2024 as biopharma OEM sales are projected to decline significantly without a comparable decline in fixed manufacturing overheads.
Challenges Ahead
- Global economic conditions
- Market acceptance of products
- Regulatory approvals of products
- Regulatory intervention in current operations
- Government intervention in healthcare in general
Historical Earnings Impact
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Avg. Return Before/After Earnings
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