ICU Medical Earnings: Here’s Why the Stock is Rising Now

ICU Medical, Inc. (NASDAQ:ICUI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 15.91%.

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ICU Medical, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 9.43% to $0.58 in the quarter versus EPS of $0.53 in the year-earlier quarter.

Revenue: Decreased 1.6% to $74.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: ICU Medical, Inc. reported adjusted EPS income of $0.58 per share. By that measure, the company beat the mean analyst estimate of $0.44. It beat the average revenue estimate of $74.07 million.

Quoting Management: “First quarter results were overall in-line with our expectations and we are pleased to start the year with solid results,” said Scott Lamb, ICU Medical’s Chief Financial Officer. “Our top-line performance was driven by growth in custom infusion and oncology products, offset by expected decreases in critical care and needlefree connectors. International sales were up 12.5%, while domestic sales decreased 6.7% year over year. Gross margins expanded 320 basis points to 49.5% as a result of improved manufacturing efficiencies across all manufacturing facilities.”

Key Stats (on next page)…

Revenue decreased 10.12% from $82.67 million in the previous quarter. EPS decreased 29.27% from $0.82 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.71 and has not changed. For the current year, the average estimate has moved down from a profit of $2.89 to a profit of $2.77 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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