NASDAQ$ICUI

ICU Medical Inc. · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Announced fourth quarter 2022 results and provided fiscal year 2023 guidance.

ICU Medical's fourth quarter 2022 revenue was $578.0 million, compared to $340.5 million in the same period last year. The adjusted diluted earnings per share for the fourth quarter of 2022 was $1.60 as compared to $1.82 for the fourth quarter of 2021.

  • Fourth quarter 2022 revenue was $578.0 million, compared to $340.5 million in the same period last year.
  • GAAP gross profit for the fourth quarter of 2022 was $174.9 million, as compared to $127.5 million in the same period last year.
  • Adjusted diluted earnings per share for the fourth quarter of 2022 was $1.60 as compared to $1.82 for the fourth quarter of 2021.
  • Adjusted EBITDA was $96.4 million for the fourth quarter of 2022 as compared to $64.2 million for the fourth quarter of 2021.

Headline financials

Total Revenue

$578M

Previous: $341M+69.7%
EPS (adj)

$1.60

Previous: $1.82-12.1%
Adjusted EBITDA

$96.4M

Previous: $64.2M+50.2%
GAAP Gross Margin

30.0%

Previous: 37.0%-18.9%
Capital Expenditures

$21.6M

Previous: $22.1M-2.2%
Free Cash Flow

-$23.3M

Previous: $60.5M-138.5%
Net Income

-$15.5M

Previous: $19.9M-178.0%
Operating Income

-$222K

Previous: $23.8M-100.9%
Gross Profit

$175M

Previous: $127M+37.2%
Cash & Equivalents

$209M

Previous: $553M-62.2%
Total Assets

$4.52B

Previous: $1.88B+140.1%
Stock-Based Comp

$7.43M

Previous: $8.11M-8.4%

Revenue & EPS history

ICU Medical · Revenue · Quarterly

$578M

Q4 2022+69.7%vs Q4 2021
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

ICU Medical · $230M total across 2 segments · Q4 2022

  • Consumables
    $141M-4.9%
  • Infusion Systems
    $89M-3.9%

Forward guidance

For Fiscal Year 2023, the Company estimates GAAP net loss to be in the range of $(73) to $(37) and GAAP diluted loss per share estimated to be in the range of $(3.00) to $(1.50). For the Fiscal Year 2023, the Company expects adjusted EBITDA to be in the range of $375 million to $425 million, and adjusted diluted EPS to be in the range of $5.75 to $7.25.

Tailwinds

  • The Company expects adjusted EBITDA to be in the range of $375 million to $425 million for fiscal year 2023.
  • The Company expects adjusted diluted EPS to be in the range of $5.75 to $7.25 for fiscal year 2023.

Headwinds

  • The Company estimates GAAP net loss to be in the range of $(73) to $(37) for fiscal year 2023.
  • GAAP diluted loss per share estimated to be in the range of $(3.00) to $(1.50) for fiscal year 2023.

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 Q4 2022

Historical avgQ4 2022

+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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