Integra LifeSciences Posts Street Beating Earnings, Backs FY22 Guidance

Integra LifeSciences Holdings Corp IART reported Q1 FY22 sales of $376.6 million, +4.6% Y/Y on a reported basis and 5.6% organic, beating the consensus of $362.04 million.
Adjusted EPS stood at $0.74, ahead of The Street estimate of $0.68.
Integra Lifesciences in Q1 also announced the launch of its NeuraGen 3D nerve guide matrix, a resorbable implant to repair peripheral nerve discontinuities.
The Company says the NeuraGen 3D is the only nerve repair product specifically engineered to create an optimized environment for mid-gap nerve regeneration, compared with hollow nerve conduits alone.
The adjusted gross margin was 67.7%, compared to 67.3% in the prior year.
Guidance: Integra Lifescience expects Q2 FY22 sales of $392 million - $400 million, compared to the consensus of $394.32 million.
Adjusted EPS is expected to be 0.78 - $0.82, versus The Street estimate of $0.80.
For FY22, the Company raised its organic growth expectations from 3.5% - 5% to 3.8% - 5.2%, reflecting better-than-expected Q1 performance and the current uncertainty in global markets and continuing supply constraints.
FY22 sales and EPS guidance remain unchanged at $1.58 billion - $1.6 billion (consensus of $1.59 billion) and $3.27 - $3.35 (consensus of $3.31), respectively.
Price Action: IART shares are up 3.23% at $62.57 during the market session on the last check Wednesday.