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Sep 29, 2023

Integer Q3 2023 Earnings Report

Integer Holdings Corporation reported strong third quarter financial results and increased full year outlook.

Key Takeaways

Integer Holdings Corporation reported a strong third quarter with organic sales up 18% and adjusted operating income growth of 39%. The company is increasing its full year sales outlook to 15% growth and adjusted operating income outlook to 25% growth at the midpoint. They also acquired InNeuroCo to strengthen neurovascular catheter capabilities.

Integer delivered a strong quarter with organic sales up 18%.

Adjusted operating income growth was 39%, more than twice the sales growth rate.

The company is increasing its full year sales outlook to 15% growth at the midpoint.

The company is raising its adjusted operating income outlook to 25% growth at midpoint.

Total Revenue
$405M
Previous year: $343M
+18.1%
EPS
$1.27
Previous year: $0.95
+33.7%
Gross Profit
$106M
Previous year: $86.7M
+21.7%
Cash and Equivalents
$32.1M
Previous year: $20.2M
+59.2%
Free Cash Flow
$36.8M
Previous year: $7.28M
+405.8%
Total Assets
$2.84B
Previous year: $2.74B
+3.7%

Integer

Integer

Forward Guidance

Integer is increasing its full year sales outlook to 15% growth at the midpoint and raising its adjusted operating income outlook to 25% growth at midpoint.