NYSE$ITGR

Integer Holdings Corporation · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Integer Holdings Corporation reported first quarter 2022 results, with sales and profit consistent with expectations and 2022 outlook updated for Aran Biomedical acquisition.

Integer Holdings Corporation reported first quarter 2022 financial results consistent with expectations, with double-digit sales growth expected for the rest of the year, beginning in the second quarter, as well as gross margin improvement through the remainder of 2022. The 2022 outlook now includes the acquisitions of Oscor and Aran Biomedical, with projected sales growth of 11 to 13% and adjusted EBITDA growth of 12 to 17%, year-over-year.

  • Integer delivered first quarter 2022 financial results consistent with our expectations.
  • First quarter progress on direct labor staffing and supply chain position us well for growth.
  • Expect double-digit sales growth for the rest of the year, beginning in the second quarter, as well as gross margin improvement through the remainder of 2022.
  • Continue to execute our strategy to accelerate top-line growth by adding approximately $90 million of annualized sales at accretive growth rates from our two recent acquisitions.

Headline financials

Total Revenue

$311M

Previous: $290M+7.0%
EPS (adj)

$0.78

Previous: $0.97-19.6%
Capital Expenditures

-$10.9M

Previous: -$7.66M-41.8%
Free Cash Flow

$504K

Previous: $13.9M-96.4%
Net Income

$11.4M

Previous: $21.5M-47.2%
Operating Income

$22.5M

Previous: $34.6M-35.0%
Gross Profit

$81.5M

Previous: $84.5M-3.6%
Cash & Equivalents

$25.7M

Previous: $28.4M-9.6%
Total Assets

$2.61B

Previous: $2.34B+11.3%
Stock-Based Comp

$5M

Previous: $4.7M+6.2%

Revenue & EPS history

Integer · Revenue · Quarterly

$311M

Q1 2022+7%vs Q1 2021
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

Integer · $266M total across 2 segments · Q1 2023

  • Cardio & Vascular
    $149M
  • Cardiac Rhythm Management & Neuromodulation
    $117M

Forward guidance

2022 outlook updated for Aran Biomedical acquisition. Expected organic sales growth remains 5% to 7%.

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 Q1 2022

Historical avgQ1 2022

-0.5%

Avg return

Earnings day

+0.4%

Avg return

5 days after

+2.4%

Avg return

30 days after

41%

25 / 61 earnings

Positive

+16.4%

Q3 2016

Best reaction

-33.2%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.3%+2.6%+6.8%
Q4 2025-3.4%+0.7%-2.8%
Q3 2025-33.2%-37.7%-35.8%
Q1 2025+0.8%+5.3%-1.8%
Q4 2024-5.6%-10.8%-19.6%
Q3 2024-0.6%+2.8%+9.2%
Q2 2024-6.2%-2.5%+1.7%
Q1 2024-11.1%-9.4%-0.5%
Q4 2023-5.4%-4.5%+8.3%
Q3 2023+13.6%+16.9%+29.0%
Q2 2023+5.5%+6.5%-5.4%
Q1 2023+1.3%+0.3%-1.2%
Q4 2022+6.0%+2.4%+1.4%
Q3 2022+4.2%+6.4%+20.0%
Q2 2022-0.5%-0.3%-5.2%
Q1 2022-5.1%-1.6%+1.7%
Q4 2021-2.2%-5.5%-7.2%
Q3 2021-1.6%-2.1%-9.0%
Q2 2021-0.9%-3.2%-0.5%
Q1 2021-2.1%-2.6%-5.7%
Q4 2020+9.6%+9.3%+15.5%
Q3 2020-4.1%-4.6%+19.3%
Q2 2020-6.0%-9.3%-0.1%
Q1 2020+6.3%+2.3%+19.0%
Q4 2019+4.9%+1.0%-45.2%
Q3 2019-1.1%-1.1%-2.3%
Q2 2019-3.7%-7.8%-17.3%
Q1 2019+10.7%+11.7%+3.5%
Q4 2018+0.7%+3.0%-1.3%
Q3 2018+13.1%+18.0%+18.9%
Q2 2018-0.9%+0.5%+11.9%
Q1 2018+13.0%+16.8%+17.6%
Q4 2017+16.0%+13.9%+24.6%
Q3 2017-2.7%-4.1%-2.2%
Q2 2017+2.7%+2.0%+0.4%
Q1 2017+2.5%+12.3%+13.9%
Q4 2016-0.7%+2.9%+7.0%
Q3 2016+16.4%+15.8%+51.9%
Q2 2016-30.4%-29.7%-26.5%
Q1 2016-10.4%
Q4 2015-14.3%
Q3 2015+6.4%
Q2 2015+4.0%
Q1 2015-3.5%
Q4 2014+1.0%
Q1 2014-4.0%
Q3 2014+6.8%
Q2 2014+2.9%
Q1 2013-5.1%
Q4 2012+0.1%
Q3 2012-0.5%
Q2 2012+1.3%
Q1 2011-1.4%
Q1 2012+0.6%
Q4 2011-2.8%
Q1 2010-2.8%
Q3 2010-3.6%
Q3 2011-3.6%
Q2 2011-0.8%
Q2 2010-0.8%
Q4 2010-0.8%

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