NASDAQ$ICUI

ICU Medical Inc. · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

ICU Medical's second quarter results were generally in line with expectations, with revenue increasing compared to the same period last year.

ICU Medical announced its second quarter 2021 results, with revenue reaching $321.7 million compared to $303.4 million in the same period last year. GAAP net income was $28.4 million, or $1.31 per diluted share, compared to $18.9 million, or $0.88 per diluted share, for the second quarter of 2020. The company updated its full year 2021 guidance for adjusted EBITDA and adjusted diluted earnings per share.

  • Second quarter revenue was $321.7 million, up from $303.4 million in the same period last year.
  • GAAP gross profit for the second quarter was $123.5 million, compared to $106.3 million in the same period last year.
  • GAAP net income for the second quarter was $28.4 million, or $1.31 per diluted share, compared to $18.9 million, or $0.88 per diluted share, for the second quarter of 2020.
  • Adjusted diluted earnings per share for the second quarter were $1.88, compared to $1.65 for the second quarter of 2020.

Headline financials

Total Revenue

$322M

Previous: $303M+6.0%
EPS (adj)

$1.88

Previous: $1.65+13.9%
Adjusted EBITDA

$66.9M

Previous: $58.1M+15.1%
GAAP Gross Margin

38.0%

Previous: 35.0%+8.6%
Capital Expenditures

$15.7M

Previous: -$38.5M+140.7%
Free Cash Flow

$39.1M

Previous: -$19.6M+299.4%
Net Income

$28.4M

Previous: $18.9M+50.2%
Operating Income

$34.5M

Previous: $19.6M+76.3%
Gross Profit

$124M

Previous: $106M+16.2%
Cash & Equivalents

$462M

Previous: $446M+3.6%
Total Assets

$1.8B

Previous: $1.86B-3.0%
Stock-Based Comp

$6.68M

Previous: $5.41M+23.5%

Revenue & EPS history

ICU Medical · Revenue · Quarterly

$322M

Q2 2021+6%vs Q2 2020
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

ICU Medical · $221M total across 2 segments · Q2 2021

  • Consumables
    $136M+22.7%
  • Infusion Systems
    $84.7M-7.0%

Forward guidance

The company is updating its full year 2021 guidance of adjusted EBITDA from a range of $245 million to $265 million to a range of $250 million to $260 million and adjusted diluted earnings per share from a range of $6.50 to $7.20 to a range of $6.80 to $7.20.

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 Q2 2021

Historical avgQ2 2021

+0.3%

Avg return

Earnings day

-1.1%

Avg return

5 days after

-0.3%

Avg return

30 days after

52%

38 / 73 earnings

Positive

+22.4%

Q2 2024

Best reaction

-33.3%

Q2 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.8%-0.8%+10.7%
Q4 2025+4.8%+3.6%-16.3%
Q3 2025+8.2%+7.3%+9.9%
Q1 2025-3.3%-4.9%-6.9%
Q4 2024-2.3%-4.1%-6.4%
Q3 2024-1.9%-5.8%-7.1%
Q2 2024+22.4%+19.7%+31.2%
Q1 2024-0.1%+6.3%+7.6%
Q4 2023+6.5%-0.2%+1.6%
Q3 2023-17.8%-20.2%-15.9%
Q2 2023-15.2%-15.6%-16.8%
Q1 2023+13.3%+8.7%+3.9%
Q4 2022-3.6%-4.2%-7.3%
Q3 2022+6.7%+21.4%+11.8%
Q2 2022-7.4%-4.7%-8.0%
Q1 2022-10.4%-15.0%-14.9%
Q4 2021+5.8%+9.0%+4.3%
Q3 2021+2.1%+2.7%-6.4%
Q2 2021+0.7%+1.2%+6.1%
Q1 2021-5.0%-6.5%-2.1%
Q4 2020-5.5%-6.8%-4.4%
Q3 2020+0.6%+4.8%+5.6%
Q2 2020+8.8%+5.0%+9.8%
Q1 2020-8.8%-13.7%-8.0%
Q4 2019-4.2%-4.8%-8.2%
Q3 2019+6.9%+4.3%+6.8%
Q2 2019-33.3%-31.2%-36.6%
Q1 2019-2.7%-3.3%-2.2%
Q4 2018+2.5%-4.9%-2.8%
Q3 2018-10.6%-14.8%-10.6%
Q2 2018+2.2%+2.4%+3.7%
Q1 2018+1.4%+4.3%+12.4%
Q4 2017+4.6%+7.5%+9.1%
Q3 2017+8.6%+10.1%+11.7%
Q2 2017-2.9%-2.4%+3.4%
Q1 2017-0.2%-0.1%+6.2%
Q4 2016+0.7%-1.0%+1.5%
Q3 2016-0.4%-0.9%+2.5%
Q2 2016+7.5%+6.1%+8.6%
Q1 2016-1.0%
Q4 2015-8.7%
Q3 2015+5.8%
Q2 2015+19.9%
Q1 2015+7.3%
Q4 2014+2.2%
Q3 2014+13.6%
Q2 2014+10.5%
Q1 2014+3.3%
Q4 2013+0.1%
Q3 2013+3.0%
Q2 2013-6.7%
Q1 2013+1.3%
Q4 2012+1.1%
Q3 2012+3.7%
Q2 2012-0.2%
Q1 2012+0.8%
Q4 2011+1.9%
Q3 2011+0.2%
Q2 2011-3.9%
Q1 2011+2.2%
Q4 2010+0.1%
Q3 2010-0.9%
Q2 2010+3.4%
Q1 2010-1.0%
Q4 2007-1.0%
Q4 2009-1.0%
Q3 2009-0.8%
Q3 2008-0.8%
Q2 2009-0.6%
Q2 2008-3.9%
Q1 2009-3.9%
Q4 2008-3.9%
Q1 2008-3.9%

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