Why Integra LifeSciences (IART) Stock Is Plunging Today

Integra LifeSciences Holdings Corp IART reported Q1 FY23 sales of $388.8 million, which increased 1.1% Y/Y on a reported basis and increased 4.6% on an organic basis, beating the consensus of $373.21 million and the management guidance of $370 million-$376 million.

Adjusted EPS stood at $0.74, in line with the Street estimate and management outlook of $0.72-$0.76.

The adjusted gross margin was 67.3%, compared to 67.7% in the prior year.

Adjusted EBITDA was $92.3 million, or 24.2% of revenue, compared to $93.5 million, or 24.8% of revenue, in the prior year.

Guidance: For Q2 FY23, Integra LifeSciences expects revenues of $396 million-$400 million compared to the consensus of $404.78 million. 

Adjusted EPS is expected to be $0.75-$0.79 versus the consensus of $0.85, including the impact of the acceleration of the Boston quality system upgrades from the second half of the year into the second quarter.

For FY23, the company reaffirms revenues guidance of $1.60-$1.62 billion and adjusted EPS of $3.43-$3.51 compared to the consensus of $1.62 billion and $3.52, respectively.

Price Action: IART shares are down 8.46% at $53.98 on the last check Wednesday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsLarge CapNewsGuidanceHealth CareMoversGeneral
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!