What is the revenue and EPS growth rate for ICU Medical year over year?

What guidance did ICU Medical's management provide for the next earnings period?

What does ICU Medical do and what are its main business segments?

Did ICU Medical beat or miss consensus estimates last quarter?

What factors drove the changes in ICU Medical's revenue and profit?

What were the key takeaways from ICU Medical's earnings call?

What were the key takeaways from ICU Medical’s earnings call?

What is the market's earnings forecast for ICU Medical next quarter?

- **Revenue Beat Expectations**: Q3 revenue $533M (+5% organic), driven by 8% growth in Consumables and 9% in IV Systems.
- **Gross Margin Expansion**: 41% adjusted gross margin, up 0.5ppts from Italy payback settlement and 5ppts from JV deconsolidation.
- **EPS Growth**: Diluted EPS $2.03 (+28%), exceeding prior guidance, with adjusted EBITDA $106M (+12% YoY).
- **Tariff Impact**: $11M Q3 tariffs, $25M annualized, reducing gross margin by 2ppts. 2026 outlook cautious on trade headwinds.
- **Strategic Momentum**: New product approvals (Plum Solo, Medfusion 5000) and refresh cycle for installed base position for mid-term growth.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue of $533 million, up 5% organically, driven by Consumables (8% reported, 7% organic) and IV Systems (9% reported, 8% organic). Record quarter for absolute sales in Consumables.
- **Gross Margin Improvement**: Adjusted gross margin of 41%, up 0.5 percentage points from Italy payback settlement and 5% from IV Solutions JV deconsolidation. Tariffs reduced margin by 2 percentage points.
- **Strategic Priorities**: Focus on innovation (e.g., Medfusion 5000, Plum Solo), refresh of installed base, and cost control. 2026 outlook cautious on tariffs but optimistic on commercial execution.

**【CFO Financial Commentary】**
- **Financial Highlights**: GAAP net income $420 million, adjusted EBITDA $106 million (+12% YoY), EPS $2.03 (+28%). Free cash flow $28 million, with $273M debt repayment YTD.
- **Cost Management**: SG&A down 24.3% of revenue, R&D $21 million. Restructuring expenses $13 million, tariffs $11 million Q3, $25M annualized.
- **Balance Sheet**: $1.3B debt, $300M cash. Refinanced $190M Term Loan A to reduce interest costs by $2M annually.

**【Q&A Key Highlights】**
- **Consumables Growth**: Driven by new implementations, niche markets (oncology, dialysis), and Western Europe. Mid-single-digit growth expected for 2025, with 2026 outlook cautious on sequential Q4 decline.
- **Infusion Systems Traction**: Solo orders starting, Duo installations ongoing. Refresh cycle for Plum 360 base expected late 2026. FDA dialogue active on new product approvals.
- **Tariffs and Margin Targets**: 2025 tariffs $25M, 2026 impact uncertain. Target 45% gross margin (tariff-adjusted), with 2 percentage points to close via synergies and volume growth.
- **Free Cash Flow**: Potential for improvement as restructuring costs decline, but tariffs and remediation expenses remain headwinds.
- **Portfolio Management**: Open to optimizing Vital Care segment, but no immediate actions. Focus on core businesses with strong clinical value and manufacturing barriers.

ICU Medical, Inc.(ICUI)-20251107-2025 Q3 Earnings call transcript

Infusion Consumables

Infusion Systems

IV Solutions

Critical Care

Infusion Systems-Smiths Medical

Vascular Access-Smiths Medical

Vital Care-Smiths Medical

International

Domestic

ICUI

ICUI fundamentals

You can ask Aime