share_log

Earnings Call Summary | ICU Medical(ICUI.US) Q4 2023 Earnings Conference

Futu News ·  Mar 20 20:21  · Conference Call

The following is a summary of the ICU Medical, Inc. (ICUI) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • ICU Medical's full year 2023 consolidated adjusted revenue was down 1% in reported terms and flat in constant currency.

  • The company's Q4 gross margin was 34%, reflecting the impact from lower manufacturing absorption.

  • Q4 adjusted diluted earnings per share was $1.57 compared to $1.60 last year.

  • Q4 adjusted EBITDA decreased by 11%.

  • For 2024, the company expects full year consolidated adjusted revenue growth in the mid-single-digit range.

Business Progress:

  • The company has invested in quality system and product-related remediation for legacy SM.

  • ICU Medical plans to further reduce inventory during 2024.

  • All product lines in the Consumables segment reported sequential growth due to new global customer implementations and improved capacity.

  • The company's newly cleared Plum Duo infusion system and LifeShield IV safety software are production ready.

  • Future development is focused on a single-channel infusion system and a refreshed syringe pump.

  • The company is prioritizing debt repayment as the highest capital allocation priority.

More details: ICU Medical IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment