Integra LifeSciences Reports Interim Q4 Sales Marginally Ahead Of Expectations

Integra LifeSciences Holdings Corp IART expects Q4 FY21 sales of $404 million - $406 million, representing an increase of approximately 4% Y/Y on a reported basis and 8% on an organic basis.

• Interim Q4 sales beat the consensus of $403.9 million.
• In its Q3 earnings report, the company targeted Q4 revenue of $403 million, representing reported growth of 3.5% and organic growth of 6.5%.
• The company expects FY21 sales of $1.541 billion - $1.543 billion (consensus $1.54 billion), +12% Y/Y on a reported basis, and 14% organic. In its Q3 report, the company reaffirmed its previous FY21 revenue guidance of $1.540 billion - $1.550 billion, with an expectation to be at the low end of the range.
• "We remain committed to achieving our 5% - 7% long-term organic growth target and are reaffirming our long-term financial aspirations," said Jan De Witte, Integra's President & CEO.
• The company plans a $125 million share repurchase as part of a previous approval with authorization of up to $225 million.
• Price Action: IART shares closed 0.72% higher at $67.18 on Tuesday.