earnings
confidence high
sentiment negative
materiality 0.75
Integer cuts FY2022 guidance on supplier delivery issues; Q3 prelim sales $342-344M
Integer Holdings Corp
2022-Q3 EPS reported
$1.45
revenue$1,003,673,000
- Q3 preliminary sales $342-344M; GAAP operating income $25-30M; GAAP diluted EPS $0.38-0.51.
- Full-year sales guidance lowered to $1.35-1.38B (from $1.37-1.395B); GAAP operating income $111-127M (from $136-148M).
- Adjusted EPS guidance cut to $3.57-3.97 (from $4.20-4.50) due to $15M sales hit from three suppliers.
- Company reduced SG&A by ~$8M annualized; expects positive price in 2023; preliminary 2023 sales growth 7-9%.
- Supply chain challenges deteriorating; added 5% more direct labor in Q3 but three suppliers missed commitments.