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Dec 31, 2024
Utah Medical Q4 2024 Earnings Report
Utah Medical Products experienced a contraction in Q4 2024, with declines in revenue, net income, and EPS compared to Q4 2023.
Key Takeaways
Utah Medical Products reported a decrease in revenue, net income, and EPS for Q4 2024 compared to the same period in 2023. The decline was attributed to lower sales across various segments, including OEM, OUS distributors, and Filshie devices. However, profit margins held up well due to cost management and a favorable shift in sales mix.
Total consolidated worldwide sales decreased by 25.8% compared to Q4 2023.
Net income decreased by 32.3% compared to Q4 2023.
Earnings per share decreased by 27.4% compared to Q4 2023.
Domestic U.S. sales were 14.9% lower, and OUS sales were 38.9% lower in USD terms, than in Q4 2023.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
UTMD expects total WW consolidated revenues are likely to be lower again, in the low to mid-single percentage digits relative to 2024.
Positive Outlook
- UTMD’s China distributor for blood pressure monitoring kits has placed a fixed annual order for 2025 which is slightly higher than 2024.
- With expected regulatory approvals, OUS distributor orders should bounce back in 2025.
- The Company is projecting OUS Filshie device sales to be higher.
- UTMD expects Ireland sales to its China distributor to be slightly higher in 2025 than in 2024.
- UTMD also expects sales of other UTMD devices from the U.S. to OUS distributors to reverse in 2025.
Challenges Ahead
- UTMD expects PendoTECH revenues may be about $2.0 million lower in 2025.
- Total WW consolidated revenues are likely to be lower again, in the low to mid-single percentage digits relative to 2024.
- Any cases that must go to trial could drive up litigation expense significantly.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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