In This Article:
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Q4 Revenue: $622 million, 9% growth on a constant currency basis, 8% reported.
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Adjusted EBITDA: $106 million, a 22% increase from the previous year.
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EPS: $2.11, compared to $1.57 last year.
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Gross Margin: 37% for Q4.
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Consumables Business Growth: 6% in Q4, both constant currency and reported.
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IV Systems Business Growth: 7% reported, 4% constant currency in Q4.
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Vital Care Segment Growth: 16% on a constant currency and reported basis in Q4.
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Full-Year 2024 Revenue Growth: 6% reported, 7% constant currency.
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Free Cash Flow: $16 million in Q4.
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Debt: $1.6 billion at the end of Q4.
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Cash Balance: $309 million at the end of Q4.
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2025 Revenue Guidance: Low-to-mid-single-digit growth on a constant currency basis.
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2025 Adjusted EBITDA Guidance: $395 million to $425 million.
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2025 Adjusted EPS Guidance: $6.55 to $7.25 per share.
Release Date: February 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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ICU Medical Inc (NASDAQ:ICUI) reported a 9% revenue growth on a constant currency basis for Q4 2024, driven by strong performance across all segments.
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The company's Consumables business grew 6% in Q4, with legacy ICU product families achieving record sales levels.
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ICU Medical Inc (NASDAQ:ICUI) successfully advanced its integration efforts, including the IT cutover of North American order to cash systems.
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The company is preparing for a joint venture with Otsuka Pharmaceutical Factory, which is expected to enhance long-term success in the IV Solutions market.
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ICU Medical Inc (NASDAQ:ICUI) achieved a 22% increase in adjusted EBITDA for Q4, reflecting strong operational performance.
Negative Points
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Gross margins were slightly down sequentially due to a higher mix of IV Solutions, which have a lower margin profile.
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Currency fluctuations posed a headwind in Q4, with the US dollar weakening in key selling geographies.
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The company faced challenges in Q4 due to the national shortage in IV Solutions, requiring significant operational adjustments.
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ICU Medical Inc (NASDAQ:ICUI) anticipates potential impacts from new tariffs, which could affect approximately a third of its global revenues.
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The company's guidance for 2025 includes uncertainties related to the deconsolidation of the IV Solutions business and potential tariff impacts.
Q & A Highlights
Q: What drove the re-acceleration in Consumables growth in Q4? Was price a major component? A: Vivek Jain, CEO, explained that the growth was a combination of factors including new installations, global growth, and price improvements. It was a collective effort across various segments, and operational performance was strong.