NASDAQ$IART

Integra LifeSciences Holdings Corporation · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

Integra LifeSciences' third quarter performance exceeded expectations due to recovery trends and solid execution.

Integra LifeSciences reported Q3 2020 revenues of $370.2 million, a decrease of 2.3% on a reported basis and 1.5% organically. GAAP EPS was $0.38, compared to a loss of ($0.32) in Q3 2019, while adjusted EPS was $0.80, up from $0.68. The company's full-year 2020 guidance remains withdrawn.

  • Reported revenues were $370.2 million, a decrease of 2.3% on a reported basis and a decrease of 1.5% on an organic basis compared to the prior year.
  • GAAP earnings per diluted share were $0.38, compared to a GAAP loss of ($0.32) in the third quarter of 2019.
  • Adjusted earnings per diluted share were $0.80, compared to $0.68 in the prior year.
  • The Company's full-year 2020 guidance remains withdrawn due to the uncertainty related to COVID-19 and ongoing variability in the recovery in surgical procedure volumes.

Headline financials

Total Revenue

$370M

Previous: $379M-2.3%
EPS (adj)

$0.80

Previous: $0.68+17.6%
Adjusted EBITDA

$103M

Previous: $91.6M+12.6%
Capital Expenditures

-$30.5M

Previous: -$47.3M+35.7%
Free Cash Flow

$1.87M

Previous: -$75M+102.5%
Net Income

$32.3M

Previous: -$27.6M+217.1%
Operating Income

$57.5M

Previous: -$20.6M+379.5%
Gross Profit

$235M

Previous: $236M-0.4%
Cash & Equivalents

$396M

Previous: $208M+90.5%
Total Assets

$3.45B

Previous: $3.35B+3.2%
Stock-Based Comp

$5.41M

Previous: $5.89M-8.1%

Revenue & EPS history

Integra LifeSciences · Revenue · Quarterly

$370M

Q3 2020-2.3%vs Q3 2019
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Integra LifeSciences · $348M total across 4 segments · Q3 2020

  • Neurosurgery
    $190M-2.9%
  • Wound Reconstruction and Care
    $82.1M-0.1%
  • Instruments
    $49.6M-13.9%
  • Private Label
    $26.9M+16.6%

Forward guidance

Due to the ongoing uncertainty around the scope and duration of the pandemic and the timing of recovery across the globe, the Company’s guidance for the full-year 2020 remains withdrawn. Barring significant worsening of the pandemic, the Company expects further sequential revenue improvement in the fourth quarter.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2020

Historical avgQ3 2020

-0.2%

Avg return

Earnings day

-1.4%

Avg return

5 days after

-1.8%

Avg return

30 days after

51%

35 / 68 earnings

Positive

+29.2%

Q3 2024

Best reaction

-23.5%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+24.4%+31.0%+65.1%
Q4 2025-2.1%-8.9%-20.6%
Q3 2025-23.5%-26.8%-15.0%
Q1 2025-20.9%-27.3%-22.3%
Q4 2024+12.1%+5.3%-0.2%
Q3 2024+29.2%+28.5%+25.1%
Q2 2024-20.4%-23.5%-35.3%
Q1 2024-13.2%-10.0%+9.9%
Q4 2023-16.6%-18.8%-19.9%
Q3 2023-4.5%-5.8%+6.3%
Q2 2023-3.1%-1.1%-9.5%
Q1 2023-6.2%-5.5%-34.7%
Q4 2022+0.2%+0.8%-3.1%
Q3 2022+11.1%+12.7%+21.1%
Q2 2022-1.5%-0.5%-14.8%
Q1 2022+2.9%-0.2%+2.5%
Q4 2021+0.9%+2.6%-2.8%
Q3 2021+7.1%+7.5%-5.3%
Q2 2021-0.2%-0.3%+2.6%
Q1 2021-2.0%-3.4%-9.9%
Q4 2020-4.1%-2.8%-6.2%
Q3 2020-7.0%-4.5%+19.5%
Q2 2020+6.4%+6.6%-5.6%
Q1 2020+1.5%-2.8%+7.9%
Q4 2019+2.9%-0.3%-35.7%
Q3 2019-7.7%-5.1%-2.0%
Q2 2019+12.0%+14.5%+8.0%
Q1 2019-3.1%-2.3%-7.7%
Q4 2018+5.7%+6.1%+6.5%
Q3 2018-12.6%-13.5%-13.9%
Q2 2018-2.3%-2.3%-5.5%
Q1 2018+9.8%+12.7%+16.7%
Q4 2017-4.1%-4.1%+0.7%
Q3 2017-9.1%-8.2%-4.9%
Q2 2017-9.9%-10.7%-10.9%
Q1 2017+4.6%+5.1%+12.1%
Q4 2016-2.1%-1.2%-1.2%
Q3 2016+1.6%-3.4%+3.8%
Q2 2016+6.8%+6.4%+9.0%
Q1 2016+6.7%
Q4 2015+3.8%
Q3 2015+2.8%
Q2 2015-0.1%
Q1 2015+7.5%
Q4 2014+2.3%
Q3 2014-7.5%
Q2 2014+1.0%
Q1 2014-1.6%
Q4 2013-3.9%
Q3 2013+4.4%
Q2 2013-2.2%
Q1 2013+0.2%
Q4 2012-4.8%
Q3 2012-0.3%
Q2 2012+4.1%
Q1 2012+9.4%
Q4 2011+1.2%
Q3 2011-21.8%
Q2 2011-5.3%
Q1 2010+2.1%
Q1 2011+0.8%
Q4 2008-0.7%
Q4 2010-0.7%
Q3 2010+2.2%
Q3 2009+2.2%
Q2 2009+6.2%
Q2 2010+6.2%
Q4 2009+6.2%

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