Integra Q2 adj EPS $0.71, revenue $381M (-4.2%); FDA warning on Boston facility; guides down

INTEGRA LIFESCIENCES HOLDINGS CORP

2023-Q2 EPS reported $0.35 revenue$762,113,000

Q2 GAAP diluted EPS $0.05 vs $0.54; adjusted EPS $0.71 vs $0.82; revenue $381.3M declined 4.2% reported, 2.7% organic.
Codman Specialty Surgical organic growth 6.3%; Tissue Technologies organic decline 19.7% due to Boston recall impact.
FDA warning letter (July 17, 2023) for Boston facility quality systems; does not restrict shipping but requires annual third-party audit for three years.
Planning $125M share repurchase in Q3 under new $225M board authorization; replaced prior program.
Updated FY2023 guidance: revenue $1.548-1.560B, adj EPS $3.10-3.18; Boston restart late Q4'23, commercial distribution mid-Q2'24.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INTEGRA LIFESCIENCES HOLDINGS CORP reported the quarter ended June 30, 2023 results: revenue $381.3 million, net income $4.2 million, EPS $0.05 per diluted share.

Period: the quarter ended June 30, 2023
Revenue: $381.3 million
Net income: $4.2 million
EPS: $0.05 per diluted share
Result: reported results

Exact text from the filing

Total reported revenues of $381.3 million declined 4.2% on a reported basis and declined 2.7% on an organic basis compared to the prior year. The Company reported GAAP gross margin of 54.3%, compared to 62.7% in the second quarter of 2022. Adjusted gross margin was 67.6%, compared to 68.0% in the prior year. Adjusted EBITDA for the second quarter of 2023 was $88.8 million, or 23.3% of revenue, compared to $102.8 million, or 25.8% of revenue, in the prior year. The Company reported GAAP net income of $4.2 million, or $0.05 per diluted share, in the second quarter of 2023, compared to a GAAP net income of $44.8 million, or $0.54 per diluted share, in the prior year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INTEGRA LIFESCIENCES HOLDINGS CORP reported full year 2023 results: revenue $1.548 billion to $1.560 billion, EPS $3.10 to $3.18.

Period: full year 2023
Revenue: $1.548 billion to $1.560 billion
EPS: $3.10 to $3.18
Result: guidance update

Exact text from the filing

Updating full-year 2023 revenue and adjusted earnings per share guidance with a range of $1.548 billion to $1.560 billion and $3.10 to $3.18 respectively

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INTEGRA LIFESCIENCES HOLDINGS CORP reported the third quarter 2023 results: revenue $386 million to $390 million, EPS $0.76 to $0.80.

Period: the third quarter 2023
Revenue: $386 million to $390 million
EPS: $0.76 to $0.80
Result: guidance update

Exact text from the filing

For the third quarter 2023, the Company expects reported revenues in the range of $386 million to $390 million, representing reported growth of 0.2% to 1.3 % and organic growth of 0.3% to 1.3 % . Adjusted earnings per diluted share are expected to be in the range of $0.76 to $0.80

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13 earnings releases filed in the last 30 days. Browse all earnings releases →

INTEGRA LIFESCIENCES HOLDINGS CORP filing history →

Source: SEC EDGAR

accession 0000917520-23-000060

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