Integra LifeSciences Q1 Adj. EPS Meets View, Revenues Beat; Sees Q2 Below Market; Backs FY23 View

(RTTNews) - Medical technology company Integra LifeSciences Holdings Corp. (IART) reported Wednesday that its first-quarter net income was $24.23 million or $0.29 per share, compared to last year's $32.90 million or $0.39 per share in the prior year.

Adjusted net income was $60.7 million, or $0.74 per share, compared to $62.0 million or $0.74 per share in the prior year.

On average, 11 analysts polled by Thomson Reuters expected earnings of $0.74 per share for the quarter. Analysts' estimates typically exclude special items.

Total reported revenues were $380.85 million, up 1.1 percent from $376.64 million last year. Revenues grew 4.6 percent on an organic basis compared to the prior year.

Analysts expected revenues of $373.21 million for the quarter.

Looking ahead for the second quarter, the company expects adjusted earnings per share in the range of $0.75 to $0.79.

Reported revenues are expected to be in the range of $396 million to $400 million, representing reported growth of -0.5 percent to 0.5 percent and organic growth of 1.5 percent to 2.5 percent.

For the second quarter, the analysts project earnings of $0.85 per share on revenues of $404.78 million.

Further, the company reaffirmed its full-year 2023 earnings per share guidance in a range of $3.43 to $3.51 , and revenues in a range of $1.60 billion to $1.62 billion.

The revenue range represents reported growth of 2.9 percent to 4.0 percent, with organic growth of 4.0 percent to 5.2 percent.

For fiscal 2023, the analysts project earnings of $3.48 per share on revenues of $1.61 billion.

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