Integer Holdings Corp (FRA:WGB)
€ 130 2 (1.56%) Market Cap: 4.36 Bil Enterprise Value: 5.46 Bil PE Ratio: 41.27 PB Ratio: 2.77 GF Score: 80/100
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Q2 2024 Integer Holdings Corp Earnings Call Transcript

Jul 25, 2024 / 01:00PM GMT
Release Date Price: €107 (-6.14%)

Key Points

Positve
  • Integer Holdings Corp (ITGR) reported a 9% year-over-year sales growth in Q2 2024.
  • Adjusted operating income grew by 20%, with operating margins expanding by 152 basis points.
  • Adjusted earnings per share increased by 14% year-over-year.
  • The company raised its full-year profit outlook, expecting 18% adjusted operating income growth on 10% sales growth.
  • Strong visibility to customer demand and ramping programs in high-growth markets provide confidence in future performance.
Negative
  • Higher interest expenses and a slightly higher adjusted effective tax rate impacted net income.
  • Cash flow from operations was $9 million lower year-over-year due to non-repeating accounts receivable factoring.
  • The CRM and Neuromodulation guidance was revised down to high single digits from low double digits.
  • The non-medical segment experienced a 36% decline in the first half of 2024.
  • Concerns about potential in-sourcing by customers, particularly in the PFA segment, could impact future growth.
Operator

Hello, and welcome to the Q2 2024 Integer Holdings Corporation earnings call. (Operator Instructions) I would now like to turn the conference over to Andrew Senn, Senior Vice President Strategy, Business Development and Investor Relations. You may begin.

Andrew Senn
Integer Holdings Corp - Senior Vice President, Strategy, Business Development & Investor Relations

Good morning, everyone. Thank you for joining us, and welcome to Integer's second quarter 2024 earnings conference call. With me today are Joe Dziedzic, President and Chief Executive Officer; and Diron Smith, Executive Vice President and Chief Financial Officer.

As a reminder, the results and the data we discuss today reflect the consolidated results of Integer for the periods indicated. During our call, we will discuss some non-GAAP financial measures. For reconciliation of these non-GAAP financial measures, please refer to the appendix of today's presentation, today's earnings press release, and the trending schedules, which are available on our website at integer.net.

Please

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