LeMaitre Vascular Reports Strong Q3 2024 Growth

Lemaitre Vascular ( (LMAT) ) has released its Q3 earnings. Here is a breakdown of the information Lemaitre Vascular presented to its investors.

LeMaitre Vascular is a company specializing in the development, manufacturing, and marketing of devices and implants for treating peripheral vascular disease, catering primarily to vascular surgeons.

The company reported robust financial results for the third quarter of 2024, marking significant growth across various key performance indicators. The quarter’s highlights include a substantial increase in sales, operating income, and earnings per share.

LeMaitre Vascular’s sales for Q3 2024 reached $54.8 million, representing a 16% increase compared to the same period in 2023. This growth was driven by strong sales in grafts, patches, and carotid shunts. The company also saw impressive regional sales increases, with APAC sales up 24%, EMEA up 22%, and the Americas up 12%. The gross margin improved to 67.8%, attributed to price increases and manufacturing efficiencies. Operating income rose by 43% to $13.1 million, and earnings per diluted share increased by 46% to $0.49. The company also reported a $10.8 million increase in cash, bringing the total to $123.9 million.

In addition to financial growth, LeMaitre Vascular announced a quarterly dividend of $0.16 per share, demonstrating a commitment to returning value to shareholders. The company has also been active in strategic moves, with an ongoing share repurchase program authorized up to $50 million.

Looking ahead, LeMaitre Vascular’s management remains optimistic, projecting continued growth in sales and profitability for Q4 and the full year 2024. The company estimated a 14% sales increase and maintained an operational margin forecast of 24%, indicating a positive outlook for sustained expansion and financial performance.