ICU Medical Reports Q3 2024 Financial Results

ICU Medical ( (ICUI) ) has released its Q3 earnings. Here is a breakdown of the information ICU Medical presented to its investors.

ICU Medical, Inc., headquartered in San Clemente, California, is a global leader in the design and manufacture of infusion systems and critical care products for hospital and home care settings.

In its third quarter 2024 earnings report, ICU Medical reported a revenue increase to $589.1 million, up from $553.3 million in the same period last year. However, the company faced a GAAP net loss of $33 million, contrasting with a net income of $7.2 million in the third quarter of 2023.

The company’s adjusted EBITDA rose to $94.8 million from $89.8 million last year, and adjusted diluted earnings per share slightly increased to $1.59 from $1.57. Revenue growth was noted across its major product lines, including consumables and infusion systems.

Looking ahead, ICU Medical has updated its fiscal year 2024 guidance, anticipating a GAAP net loss but improving its adjusted EBITDA expectations to a range of $355 million to $365 million, with adjusted diluted earnings per share projected between $5.40 and $5.70.