Integra LifeSciences Trims FY22 Adj. EPS, Revenue Outlook; Q2 Results Top Estimates

(RTTNews) - While reporting financial results for the second quarter on Wednesday, medical technology company Integra LifeSciences Holdings Corp. (IART) trimmed its adjusted earnings and revenue guidance for the full-year 2022. The company also issued outlook for the third quarter.

For fiscal 2022, the company continues to project adjusted earnings in a range of $3.21 to $3.29 per share on revenues between $1.557 billion and $1.575 billion, with organic revenue growth of 4.0 to 5.2 percent, based on better than expected first half performance.

Previously, the company expected adjusted earnings in a range of $3.27 to $3.35 per share on revenues between $1.58 billion and $1.60 billion, with organic revenue growth of 3.8 to 5.2 percent.

On average, 11 analysts polled by Thomson Reuters expect the company to report earnings of $3.31 per share on revenues of $1.59 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company expects adjusted earnings in a range of $0.78 to $0.82 per share on revenues between $383 million and $391 million, with organic revenue growth of 2.6 to 4.8 percent.

The Street is looking for earnings of $0.84 per share on revenues of $398.66 million for the quarter.

For the second quarter, the Company reported net income of $44.79 million or $0.54 per share, up from $35.07 million or $0.41 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter was $0.82 per share, compared to $0.79 per share in the year-ago quarter.

Total revenues for the quarter increased 2.0 percent to $397.82 million from $389.99 million in the same quarter last year. Organic revenue grew 4.8 percent.

Analysts expected the company to report earnings of $0.80 per share on revenues of $395.27 million for the quarter.

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