Earnings summaries and quarterly performance for ICU MEDICAL INC/DE.
Executive leadership at ICU MEDICAL INC/DE.
Board of directors at ICU MEDICAL INC/DE.
Research analysts who have asked questions during ICU MEDICAL INC/DE earnings calls.
Brett Fishbin
KeyBanc Capital Markets
5 questions for ICUI
Also covers: ALC, COO, INSP +7 more
Jayson Bedford
Raymond James
5 questions for ICUI
Also covers: AXGN, BDX, DXCM +8 more
Michael Toomey
Jefferies
4 questions for ICUI
Also covers: ALUR
Mike Matson
Needham & Company, LLC
4 questions for ICUI
Also covers: AORT, ATRC, CNMD +19 more
Jason Bednar
Piper Sandler Companies
2 questions for ICUI
Also covers: ALGN, COO, EDAP +17 more
LS
Larry Solow
CJS Securities
2 questions for ICUI
Also covers: ARCB, BTSG, CDRE +16 more
LS
Lawrence Solow
CJS Securities, Inc.
2 questions for ICUI
Also covers: BTSG, CDRE, CLH +13 more
CS
Charles Strauzer
CJS Securities
1 question for ICUI
Also covers: CMCO, DFIN, DLX +2 more
CS
Charlie Strazza
CJS Securities
1 question for ICUI
EF
Eric Fleming
Raymond James
1 question for ICUI
KS
Kristen Stewart
CL King & Associates
1 question for ICUI
Also covers: AVNS, CNMD, HAE +3 more
Michael Matson
Needham & Company
1 question for ICUI
Also covers: AORT, ATRC, CNMD +22 more
WC
Will Corner
KeyBanc Capital Markets
1 question for ICUI
Recent press releases and 8-K filings for ICUI.
ICU Medical outlines strategic priorities and financial outlook at Raymond James conference
ICUI
Guidance Update
Product Launch
New Projects/Investments
- ICU Medical is a $2.1 billion medical device company focused on infusion therapy, with two-thirds of its revenue from North America. As of March 2, 2026, the company had an equity value of $3.8 billion, net debt just under $1 billion, and was approximately 2.4 times levered.
- The company's core consumables business grew 6% and systems business grew 5% for the year, driven by consistent core revenue growth and innovation.
- ICU Medical targets improving gross margins from a low of 34% to over 41% by the end of the current year and 43% by the end of next year, despite absorbing $40 million-$50 million in tariffs this year. Free cash flow and EPS are expected to improve as significant investments in pump integration conclude and quality remediation costs decrease.
- The company has invested over $100 million in integrating pump platforms, with new products pending FDA approval, and anticipates the LVP pump replacement cycle to accelerate in 2027.
- ICU Medical is at an inflection point with new product cycles and improving financials, aiming to reduce leverage to 2 times and return capital to shareholders.
1 day ago
ICU Medical Highlights Growth, Margin Improvement, and Product Innovation at Raymond James Conference
ICUI
Revenue Acceleration/Inflection
Guidance Update
New Projects/Investments
- ICU Medical is a $2.1 billion medical device company focused on infusion therapy, with core segments in Consumables and Systems (pumps), and two-thirds of its revenue generated in North America.
- Both the Consumables and Systems businesses grew 5% or better for the year, with Consumables growing 6% and Systems 5%.
- The company aims for consistent core revenue growth and improved gross margins, targeting an exit gross margin of north of 41% this year and 43% next year, while also working to reduce its approximately 2.4 times leverage ratio to 2 times.
- ICU Medical has invested over $100 million in pump innovation over the last four to five years, with new Medfusion and CADD devices pending FDA approval to standardize user interfaces and software, and the LVP pump replacement cycle is expected to accelerate in 2027.
- The company anticipates improving financials and new product cycles, with quality remediation and plant integration work largely concluding by the end of Q2 this year, which should reduce cash spending below the line.
1 day ago
ICU Medical Reports Business Growth and Future Financial Targets
ICUI
Revenue Acceleration/Inflection
Guidance Update
New Projects/Investments
- ICU Medical is a $2.1 billion medical device company focused on infusion therapy, with its core segments being consumables and systems (pumps).
- Both the Consumables and Systems businesses grew 5% or better for the year, with Consumables at 6% and Systems at 5%.
- The company is targeting significant gross margin improvement, aiming to exit the current year north of 41% and the next year at 43%, up from a low of 34%. This improvement is supported by the expected completion of quality remediation and plant integration by the end of Q2 this year.
- ICU Medical has invested over $100 million in its pump business to integrate platforms into a modernized device format. A replacement cycle for its Plum 360 LVP pumps, with devices now up to 10 years old, is anticipated to accelerate in 2027, with new devices expected to command higher subscription and upfront costs.
- The company is also targeting 200 basis points of operating margin expansion, with 60-75% of this being under its control through operational efficiencies.
1 day ago
ICU Medical Announces Q4 2025 Results and 2026 Guidance
ICUI
Earnings
Guidance Update
Revenue Acceleration/Inflection
- ICU Medical reported Q4 2025 total adjusted revenue of $536 million and full-year 2025 total adjusted revenue of $2,212 million.
- For the full year 2025, total ICU adjusted revenue experienced a year-over-year decline of 5%, while organic growth was 5%.
- The company provided 2026 guidance, projecting Adjusted EBITDA between $400 million and $430 million and Adjusted EPS between $7.75 and $8.45.
- Consolidated organic revenue growth for 2026 is anticipated to be in the low to mid-single digits, with a reported impact of -5.5 percentage points from the IV Solutions joint venture.
Feb 19, 2026, 9:30 PM
ICU Medical Inc/DE Reports Q4 2025 Results and Provides 2026 Guidance
ICUI
Earnings
Guidance Update
New Projects/Investments
- ICU Medical Inc/DE reported Q4 2025 revenue of $536 million, reflecting 2% organic growth and -14% reported growth due to the deconsolidation of IV solutions, with adjusted EPS of $1.91 and adjusted EBITDA of $98 million.
- For the full year 2025, the company achieved 5% organic growth and generated $100 million in free cash flow.
- The company issued 2026 guidance, projecting consolidated organic revenue growth in the low- to mid-single-digit range, adjusted EBITDA between $400 million and $430 million, and adjusted EPS in the range of $7.75 to $8.45 per share.
- Key operational updates include the official closure of the broad FDA warning letter received by Smiths Medical and the general completion of manufacturing integration of legacy Smiths Medical sites. The company also reduced debt by over $300 million in 2025, ending the year with $1 billion of net debt, and aims for a Net Leverage Ratio of 2 times by early 2027.
Feb 19, 2026, 9:30 PM
ICU Medical Reports Q4 and Full-Year 2025 Results, Provides 2026 Guidance
ICUI
Earnings
Guidance Update
New Projects/Investments
- ICU Medical reported Q4 2025 revenue of $536 million, reflecting 2% organic growth for the quarter and 5% organic growth for the full year 2025. Adjusted gross margin was 40.5% and adjusted diluted EPS was $1.91 for Q4 2025.
- Adjusted EBITDA for Q4 2025 was $98 million, a 7% decrease from the prior year, primarily impacted by the deconsolidation of the IV Solutions business and tariffs, which together had an approximate $25 million year-over-year impact.
- The company provided 2026 guidance, projecting consolidated organic revenue growth in the low- to mid-single-digit range, adjusted gross margin around 41%, adjusted EBITDA between $400 million and $430 million, and adjusted EPS in the range of $7.75 to $8.45 per share.
- Operationally, ICU Medical announced the official closure of the broad FDA warning letter received by Smiths Medical and has generally finished the manufacturing integration of two large legacy Smiths Medical sites. The company also ended 2025 with $1 billion of net debt, having paid down $303 million of principal during the year, and aims to reach a 2x net leverage target by early 2027.
Feb 19, 2026, 9:30 PM
ICU Medical Reports Q4 2025 Results and Provides 2026 Guidance
ICUI
Earnings
Guidance Update
M&A
- ICU Medical reported Q4 2025 revenue of $536 million, reflecting 2% organic growth and -14% reported growth, with full-year 2025 organic growth at 5%. Adjusted EBITDA for Q4 was $98 million and adjusted EPS was $1.91.
- The company's Q4 2025 financial performance was significantly affected by the mid-2025 deconsolidation of the Otsuka ICU Medical JV and tariffs, which together accounted for an approximately $25 million year-over-year decrease in adjusted EBITDA.
- For full-year 2026, ICU Medical projects consolidated organic revenue growth in the low- to mid-single-digit range, with adjusted EBITDA expected between $400 million and $430 million, and adjusted EPS in the range of $7.75 to $8.45 per share.
- ICU Medical concluded 2025 with $1 billion in net debt and a Net Leverage Ratio of just under 2.5 times, with a strategic focus on using free cash flow for debt reduction to achieve a target leverage of 2 times by early 2027.
Feb 19, 2026, 9:30 PM
ICU Medical Announces Fourth Quarter 2025 Results and Fiscal Year 2026 Guidance
ICUI
Earnings
Guidance Update
M&A
- ICU Medical reported fourth quarter 2025 revenue of $540.7 million, a decrease from $629.8 million in the same period last year, with a GAAP net loss of $(15.7) million (or $(0.64) per diluted share) and adjusted diluted earnings per share of $1.91.
- For fiscal year 2026, the company estimates GAAP net income to be in the range of $26 million to $44 million and GAAP net earnings per share between $1.03 and $1.74.
- ICU Medical also provided fiscal year 2026 guidance for adjusted EBITDA in the range of $400 million to $430 million and adjusted EPS between $7.75 and $8.45.
- The company disposed of its IV Solutions business, which was previously part of the Vital Care product line, on May 1, 2025.
Feb 19, 2026, 9:08 PM
ICU Medical Announces Fourth Quarter 2025 Results and Fiscal Year 2026 Guidance
ICUI
Earnings
Guidance Update
- ICU Medical reported fourth quarter 2025 revenue of $540.7 million, a decrease compared to $629.8 million in the same period of the prior year.
- For Q4 2025, the company posted a GAAP net loss of $(15.7) million, or $(0.64) per diluted share, and adjusted diluted earnings per share of $1.91.
- The Vital Care product line revenue decreased significantly in Q4 2025, partly due to the disposal of its IV Solutions business on May 1, 2025.
- For fiscal year 2026, ICU Medical estimates GAAP net income to be in the range of $26 million to $44 million and adjusted EBITDA to be between $400 million and $430 million.
Feb 19, 2026, 9:05 PM
ICU Medical CEO Highlights Inflection Point, Innovation, and Financial Targets at JPMorgan Healthcare Conference
ICUI
Product Launch
New Projects/Investments
Guidance Update
- ICU Medical's CEO, Vivek Jain, presented the company as primarily focused on IV therapy, with an equity value of approximately $3.8 billion and $1 billion in net debt, resulting in just over two and a half times trailing leverage as of a couple of days prior to the conference.
- The company is at an inflection point, having invested over $100 million in its pump business over the last couple of years, leading to the approval of new LVP systems (Plum Duo, Plum Solo) and software (LifeShield), with new syringe and ambulatory pumps currently seeking approval.
- ICU Medical aims to deliver consistent mid-single-digit core revenue growth through competitive share gains, expansion into faster-growing market niches, and pricing adjustments.
- Gross margins have improved to 41% in the most recent quarter from a low of 34-35%, with a target of 43% (adjusted for tariffs), indicating a remaining 200 basis points of potential improvement.
- The company is close to achieving its target leverage, approximately half a turn away, after which it plans to return capital to shareholders, while also resolving quality issues and realizing synergies from past acquisitions.
Jan 14, 2026, 9:30 PM
Quarterly earnings call transcripts for ICU MEDICAL INC/DE.
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