8-K
filed January 30, 2023, 6:59 PM ET
ticker ITGR
CIK 0001114483
earnings
confidence high
sentiment neutral
materiality 0.70
Integer Holdings Corp (ITGR): debt financing — Integer Q4 preliminary sales up 18-19%; launches $375M convertible notes offering
Integer Holdings Corp
2022-FY EPS reported
$1.99
revenue$1,376,096,000
- Preliminary Q4 sales $370-372M (+18-19% YoY); GAAP op income $36-37M (+25-29%).
- Full-year 2022 sales $1.374-1.376B (+13%); adjusted op income $191-192M (+2-3%).
- Launches $375M convertible notes due 2028 (+$56.25M option); proceeds to repay term B loan.
- Amends credit agreement to allow notes and capped calls; leverage ratio 3.5-3.6x.
- Exiting ~$40M Portable Medical sales over 4 years; retaining $30M in heart failure & cochlear.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Integer Holdings Corp amended credit facility of up to $600,000,000.
- Instrument
- credit facility
- Principal
- up to $600,000,000
- Event
- amendment
Exact text from the filing
On January 30, 2023, Integer Holdings Corporation (the “Company”) entered into a First Amendment (the “First Amendment”) to the Credit Agreement to, among other things: (i) permit the Company to issue the notes and incur indebtedness thereunder in an aggregate principal amount of up to $600,000,000 at any time outstanding;
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Integer Holdings Corp updated its year ending December 31, 2023 guidance (reaffirmed).
- Period
- year ending December 31, 2023
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
We confirm our 2023 revenue guidance previously communicated during our October 27, 2022 earnings call.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Integer Holdings Corp reported three months ended December 31, 2022 results: revenue $370 to $372 million, net income $16 to $17 million, EPS $0.49 to $0.51.
- Period
- three months ended December 31, 2022
- Revenue
- $370 to $372 million
- Net income
- $16 to $17 million
- EPS
- $0.49 to $0.51
- Result
- preliminary results
Exact text from the filing
Fourth quarter 2022 sales expected to be in the range of $370 to $372 million, an increase of 18% to 19%, with organic growth of 12% to 13%.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Integer Holdings Corp reported year ended December 31, 2022 results: revenue $1.374 to $1.376 billion, net income $64 to $65 million, EPS $1.93 to $1.96.
- Period
- year ended December 31, 2022
- Revenue
- $1.374 to $1.376 billion
- Net income
- $64 to $65 million
- EPS
- $1.93 to $1.96
- Result
- preliminary results
Exact text from the filing
Full year 2022 sales expected to be in the range of $1.374 to $1.376 billion, an increase of 13%, with organic growth of 6%.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Integer Holdings Corp amended First Amendment (effective 2023-01-30).
- Action
- amendment
- Agreement
- credit facility
- Effective
- 2023-01-30
Exact text from the filing
On January 30, 2023, Integer Holdings Corporation (the “Company”) entered into a First Amendment (the “First Amendment”) to the Credit Agreement to, among other things: (i) permit the Company to issue the notes and incur indebtedness thereunder in an aggregate principal amount of up to $600,000,000 at any time outstanding; (ii) permit the Company to enter into bond hedge and capped call transactions; (iii) permit the Company to issue call options, warrants or purchase rights relating to the Company’s common stock; provided, in each case, that the terms of any such transaction are customary for transactions of such type (subject to our good faith determination).
View on SEC.gov
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