Integer Holdings

Integer (NYSE: ITGR) + stock declined by 10% today despite posting Street-beating first-quarter earnings.

Investors were likely reacting to the medtech contract manufacturing giant’s full-year guidance, which was less than the analyst consensus.

Plano, Texas–based Integer earned $20.5 million, or 59¢ per share, off of $414.8 million in sales for the quarter ended March 29, 2024. Compared to Q1 2023, net income grew 57% and sales grew 9.5%.

Adjusted to exclude one-time items, Integer’s EPS was $1.14. The result was 3¢ ahead of The Street, where analysts on average expected EPS of $1.11 and revenue of $412.8 million.

“Integer started the year strong with first quarter 2024 sales growing 10% versus a year ago and adjusted operating income growing 26%, more than two and a half times the rate of sales growth,” Integer CEO Joseph Dziedzic said in a news release.

Integer said Card…

Medtech contract manufacturing giant Integer (NYSE: ITGR) + saw its stock jump more than 14% in value today on Street-beating third-quarter earnings and upped guidance. 

Plano, Texas–based Integer also announced that it has spent $42 million to acquire certain assets of InNeuroCo to boost its neurovascular catheter capabilities. The deal, which closed Oct. 1, will add $5 million in revenue in the fourth quarter alone from manufacturing the catheters, which are used to treat ischemic stroke and intracranial aneurysms.

The company earned $27 million, or 81¢ per share, off of $405 million in sales for the quarter ended Sept. 29, 2023. The bottom line was up 70%, and the top line was up 18% compared with Q3 2022.

Adjusted to exclude one-time items, Integer’s EPS was $1.27. The result was 17¢ ahead of The Street, where analysts on average expected EPS of $1.10 and revenue of $376.71 million.

“Integer del…

Medtech contract manufacturing giant Integer (NYSE:ITGR) + saw its stock rise more than 7% today on Street-busting second-quarter results.

Plano, Texas–based Integer earned nearly $24 million, or 71¢ per share, off of $400 million in revenue for the quarter that ended June 30, 2023. The bottom line was up 15%, and the top line rose 14% compared with Q2 2022.

Adjusted to exclude on-time items, Integer had earnings per share of $1.14. The result was 14¢ ahead of the expectations of Wall Street analysts, who on average predicted adjusted EPS of $1 on sales of $367.06 million.

“Integer delivered another strong quarter of sales and profit growth supported by an improving supply chain and labor environment,” Joseph Dziedzic, Integer’s president and CEO, said in a news release. “As we continue to see strong customer demand across our product lines, we are increasing our full-year sales outlook to 12% growth at the midp…

Integer Holdings (NYSE: ITGR) stock is down — a day after the medtech contract manufacturing giant released preliminary fourth-quarter numbers.

ITGR shares were down more than 7% to $65.30 apiece by midday today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up more than 9%.

Plano, Texas–based Integer said it expects fourth-quarter 2022 sales in the $370–372 million range, an increase of 18–19%. Adjusted to exclude one-time items, EPS were 1.08–1.11.

The results would beat the expectations of Wall Street analysts, who were expecting EPS of $1.01 and sales of $356.45 million.

“Integer delivered fourth quarter and full year 2022 preliminary sales and profit at the high-end of 2022 earnings guidance, while continuing to improve its ability to manage a challenging supply chain environment and deliver results for our customers and the patients they serve,” Integer CEO Joseph Dzied…

Integer Holdings (NYSE:ITGR) today reported third-quarter results that beat The Street on earnings but missed on revenue amid continued supply chain challenges.

The Plano, Texas–based medtech contract manufacturing giant had already warned investors early this month. It reported that deteriorating delivery performance and missed commitments from three suppliers would impact Q3 sales by $15 million. In addition, Integer reduced its full-year guidance.

With the supply chain difficulties already priced in, ITGR shares were slightly up this morning, trading at $60.33 apiece. (Integer’s stock is down more than 1% over the past month.) MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up more than 1%.

Integer earned $16 million, or 48¢ per share, off $343 million in sales for the quarter ended Sept. 30, 2022, with the bottom-line down 27% and the top-line up 12% compared with Q3 2021. Read more

Holdings (NYSE:ITGR) posted first-quarter results today that fell short of the consensus forecast on Wall Street and adjusted its outlook for the rest of the year to include its recent acquisition of Aran Biomedical.

The Plano, Texas–based medical device contract manufacturing giant reported profits of $11 million, or $0.34 per diluted share, on sales of $311 million for the three months ended April 1, 2022, for a bottom-line decrease of 47% and sales growth of 7% compared with Q1 2021.

Adjusted to exclude one-time items, earnings per share were $0.78, $0.07 short of the Street, where analysts were looking for EPS of $0.85 on sales of $314.57 million.

Get the full story at our sister site, Medical Design & Outsourcing.