Medtech firm Integra's Q2 revenue beats expectations
Overview
Integra Q2 revenue of $415.6 mln beats analyst expectations, per LSEG data
Adjusted EPS for Q2 at $0.45, exceeding analyst estimates, per LSEG data
GAAP net loss driven by $511 mln goodwill impairment charge
Outlook
Company expects Q3 revenue between $410 mln and $420 mln
Integra Lifesciences sees Q3 adjusted EPS of $0.40 to $0.45
Company updates full-year revenue guidance to $1.655 bln to $1.680 bln
Integra reaffirms full-year adjusted EPS guidance of $2.19 to $2.29
Result Drivers
GOODWILL IMPAIRMENT - $511 mln charge due to stock price drop from tariff changes and operational issues
NEUROSURGERY DEMAND - Strong demand for neurosurgery products like CUSA and Aurora, offset by shipping holds
SUPPLY CHAIN ISSUES - Private label sales down due to component supply delays and softer demand
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $415.60 mln | $395.10 mln (10 Analysts) |
Q2 Adjusted EPS | Beat | $0.45 | $0.43 (10 Analysts) |
Q2 EPS |
| -$6.31 |
|
Q2 Adjusted Net Income |
| $34.40 mln |
|
Q2 Adjusted EBITDA |
| $71.20 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and 4 "sell" or "strong sell"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."
Wall Street's median 12-month price target for Integra Lifesciences Holdings Corp is $13.00, about 4.8% above its July 30 closing price of $12.37
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nGNXc1rHdX
