ICUI
ICU Medical, Inc.147.07
-0.96-0.65%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reaffirms demand, adds divestiture color
Q&A largely reaffirmed prepared remarks on mid-single-digit organic growth and 41% gross margins for 2026, but added color on stable capital environment with deals getting done despite industry challenges—'we all live in glass houses.' Management dismissed sales pauses from pending pump clearances, confirmed positive early-year consumables volumes absent utilization slowdowns, and noted tariff mitigations for later benefits. Vital Care lags corporate margins; post-warning letter, executives eye EPS-neutral divestiture. New Plum pumps' higher ASPs materially aid revenue and hardware economics. Ops steady. Watch FCF ramp and strategic moves.
Key Stats
Market Cap
3.63BP/E (TTM)
-Basic EPS (TTM)
-0.32Dividend Yield
0%Recent Filings
8-K
Extended exec severance plan
ICU Medical extended its Executive Severance Plan by three years to December 31, 2028, effective December 31, 2025, as approved by the Compensation Committee on February 20, 2026. The plan now terminates post-change in control only after all eligible severance benefits are paid. Plan extended. This bolsters executive retention amid uncertainty.
8-K
Q4 revenue drops on divestiture
ICU Medical reported Q4 2025 revenue of $540.7M, down 14% from $629.8M amid Vital Care's $110.3M plunge post-IV Solutions divestiture on May 1. Consumables rose $16.6M while infusion systems grew modestly; adjusted EBITDA hit $98.2M. FY2026 guidance projects adjusted EBITDA $400M-$430M, adjusted EPS $7.75-$8.45. Divestiture sharpened focus.
10-K
FY2025 results
ICU Medical posted FY2025 revenue of $2.2B, down from $2.4B in 2024 after divesting 60% of its lower-margin IV Solutions business in Q2 for $211M, which funded $200M debt paydown. Consumables grew 6.8% y/y to $1.1B and Infusion Systems 4.9% y/y to $684M on LVP hardware and sets, while Vital Care plunged 36.6% y/y sans IV Solutions. Gross margins expanded to 36.8% from 34.6% via synergies and FX tailwinds, yet Q4 tariff hits of $25.7M weighed. Debt fell to $1.3B post-$290M prepays; $308M cash funds $85M-$100M 2026 capex. FDA warning letters risk pump sales momentum.
8-K
Q3 revenue dips, guidance lifts
ICU Medical posted Q3 2025 revenue of $537M, down from $589M last year due to divesting its IV Solutions business on May 1, yet consumables and infusion systems grew $20M and $14M. Adjusted EBITDA climbed to $106M from $95M, with gross margin expanding to 37%. Raised FY2025 adjusted EBITDA guidance to $395M-$405M. Progress sharpens focus.
10-Q
Q3 FY2025 results
ICU Medical's Q3 revenues fell 8.9% y/y to $537M (derived), driven by a 52.6% drop in Vital Care from the May divestiture of 60% of its IV Solutions business to Otsuka for $211M cash, while Consumables rose 7.6% y/y and Infusion Systems 8.8% y/y. Gross margins expanded to 37.4% from 34.8% y/y, reflecting the exit of lower-margin IV Solutions, lower supply costs, and integration synergies, though offset by $9.3M in new tariffs. Operating income swung to $13.7M from $8.2M y/y, but net loss narrowed to $3.4M from $33.0M, with interest expense down 19.8% y/y to $19.8M on $273M debt paydown. Cash fell to $300M from $309M ytd amid $119M operating cash flow and $64M capex; free cash flow not disclosed in the 10-Q. Debt stands at $1.3B (Term A $560M due 2027, Term B $765M due 2029), with $500M revolver undrawn. FDA's 2025 Warning Letter on pump modifications poses regulatory risk.
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