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.
Michael Toomey
Jefferies
4 questions for ICUI
Also covers: ALUR
Brett Fishbin
KeyBanc Capital Markets
3 questions for ICUI
Also covers: ALC, COO, INSP +6 more
Jayson Bedford
Raymond James
3 questions for ICUI
Also covers: AXGN, DXCM, IART +7 more
LS
Lawrence Solow
CJS Securities, Inc.
2 questions for ICUI
Also covers: BTSG, CDRE, CLH +13 more
Mike Matson
Needham & Company, LLC
2 questions for ICUI
Also covers: CNMD, ENOV, ESTA +16 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 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.
8 days ago
ICU Medical Presents Strategic Priorities and Financial Overview at J.P. Morgan Healthcare Conference
ICUI
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- ICU Medical, a global MedTech company focused on IV therapy and critical care products, reported a Diluted Equity Value of $3.82 Billion and Net Debt of $1.02 Billion as of January 9, 2026.
- The company's revenue is primarily derived from Consumables (53%) and Systems (33%), with 87% from single-use disposables & software and 64% of sales in US & Canada.
- Strategic priorities include achieving mid-single-digit core revenue growth, continued innovation in IV therapy platforms, and improving its financial profile with a target gross margin of 45% (before tariffs).
- ICU Medical is at an inflection point due to new product cycles, improving financials, and increasing optionality, with a goal to return cash to shareholders once 2.0x leverage is reached.
8 days ago
ICU Medical Discusses Strategic Direction and Financial Improvements at J.P. Morgan Healthcare Conference
ICUI
Revenue Acceleration/Inflection
New Projects/Investments
M&A
- ICU Medical reported an equity value of approximately $3.8 billion and net debt of $1 billion, with trailing leverage just over two and a half times. The company is nearing its target leverage, which is about half a turn away, after which it plans to return capital to shareholders.
- The company is focused on IV therapy, with Consumables and Systems as core businesses, generating two-thirds of revenues from North America and 87% from single-use disposables.
- ICU Medical is experiencing an inflection point with new product cycles, including the Plum Dual, Plum Solo, and Medfusion 5000 syringe pump launches, backed by an investment of over $100 million in pump business innovation.
- Gross margins reached 41% in the most recent quarter, with an adjusted target of 43%, indicating an expected 200 basis points of further improvement. Core revenue growth in Consumables and Systems has averaged 5% to 7% over the last six to seven quarters.
- The company is resolving challenges from past merger integrations, particularly the Smiths Medical acquisition, and addressing quality issues, though the lifting of warning letters and global IT integrations are still pending.
8 days ago
ICU Medical Highlights Strategic Progress and Financial Improvement at J.P. Morgan Healthcare Conference
ICUI
New Projects/Investments
M&A
Revenue Acceleration/Inflection
- ICU Medical has an equity value of approximately $3.8 billion and $1 billion in net debt, resulting in trailing just over two and a half times levered.
- The company is focused on IV therapy, with 87% of its revenue from single-use disposables, and has recently consummated a joint venture for its IV solutions business, which is no longer included in publicly reported results.
- Management is targeting a gross margin of 43% (adjusted for tariffs), up from 41% in the most recent quarter, with expectations of achieving this through decreasing restructuring costs, quality remediation, and improved free cash flow.
- ICU Medical is at an inflection point due to new product cycles, including the Plum Dual, Plum Solo, and Medfusion 5000 syringe pump launches, consistent consumables innovation, and improving financial metrics.
- The company aims to achieve its target leverage, currently about half a turn away, with the goal of returning capital to shareholders thereafter.
8 days ago
ICU Medical Provides Business Update and Financial Outlook
ICUI
Guidance Update
Revenue Acceleration/Inflection
Share Buyback
- ICU Medical's Chairman and CEO, Vivek Jain, noted a healthy market environment with strong hospital volumes and no significant capital constraints.
- The consumables business continues to show strong, durable growth, with legacy products compounding at 5-6% annually, driven by volumes, market share gains, and innovation.
- The company's pump replacement cycle for its existing 20% U.S. LVP install base is expected to commence in late 2026 or early 2027, presenting a multi-year opportunity.
- ICU Medical projects a $25 million tariff impact for 2025 and anticipates the 2026 impact to be between this amount and double it, considering operational adjustments and inflation.
- The company is confident in achieving 45% pre-tariff gross margins over the next two years, having already recovered approximately 300 basis points of a 500 basis point gap to reach 41% (43% pre-tariff) in the most recent quarter. Once debt is reduced, stock buybacks are the preferred capital return strategy.
Dec 4, 2025, 6:00 PM
ICU Medical Discusses Market, Growth, and Financial Targets
ICUI
Revenue Acceleration/Inflection
Guidance Update
Share Buyback
- ICU Medical (ICUI) observes a healthy market environment with increasing volumes and no decrease in hospital census. The consumables business continues to show strong growth, driven by volume and market share gains.
- The company anticipates a significant pump replacement cycle for its existing install base to begin in late 2026 or early 2027, with each point of market share in the LVP business valued at $8 million-$10 million annually in revenue for a decade.
- ICU Medical is targeting a 45% pre-tariff gross margin within the next two years, an increase from 41% (post-tariff) in the most recent quarter, partly achieved through the divestment of its low-margin IV Solutions business.
- The company expects a $25 million tariff burden this year, but advises against annualizing this for 2026 due to potential offsets and headwinds.
- ICU Medical's capital allocation strategy prioritizes reducing debt to two times leverage, after which share buybacks are the preferred approach.
Dec 4, 2025, 6:00 PM
ICU Medical Reports Q3 CY2025 Results and Raises Full-Year Guidance
ICUI
Earnings
Guidance Update
M&A
- ICU Medical reported Q3 CY2025 revenue of roughly $533–$537 million, which was down approximately 8.9% year-over-year but exceeded Street estimates, and delivered non-GAAP EPS of $2.03.
- The company raised its full-year profitability targets, with adjusted EPS guidance implying roughly $7.35–$7.65 (midpoint ≈ $7.50) and adjusted EBITDA guidance near $395–$405 million.
- ICU Medical is actively prioritizing deleveraging and interest-cost reduction, having made $273 million in year-to-date debt principal repayments and refinancing to lower annual interest expense by roughly $2 million.
- The company reshaped its portfolio via a May 2025 joint venture with Otsuka to focus on higher-margin consumables and infusion systems, with underlying segment performance showing Consumables revenue up ~8% and IV Systems revenue up ~9%.
Nov 7, 2025, 1:02 PM
ICU Medical announces Q3 2025 results and updates 2025 guidance
ICUI
Earnings
Guidance Update
M&A
- ICU Medical reported Q3 2025 Adjusted Revenue of $533 million, representing an 8% year-over-year decline but a 5% year-over-year organic growth.
- The company updated its 2025 full-year guidance for Adjusted EBITDA to a range of $395 million to $405 million and Adjusted EPS to $7.35 to $7.65.
- The Vital Care segment experienced a 52% year-over-year decline in Q3 2025 revenue, largely influenced by the joint venture transaction, with its 2025 full-year guidance projecting ~ (35%) FXN / Flat organic revenue.
Nov 6, 2025, 9:30 PM
ICU Medical Reports Q3 2025 Financial Results and Provides Q4 Outlook
ICUI
Earnings
Guidance Update
Revenue Acceleration/Inflection
- ICU Medical reported Q3 2025 revenue of $533 million, reflecting 5% organic growth but a -8% reported year-over-year decline due to the deconsolidation of the IV solutions business.
- For Q3 2025, the company achieved an adjusted EBITDA of $106 million and EPS of $2.03.
- The adjusted gross margin for Q3 2025 was 41%, positively impacted by the IV solutions deconsolidation and a $4 million benefit from settling an Italian payback liability, but reduced by $9 million in tariff expenses.
- The company has repaid $273 million in principal year to date.
- For Q4 2025, ICU Medical anticipates gross margin to be in the range of 40%-41%, with operating expenses projected at approximately 25.5% of revenue, and expects full-year tariff expense to be around $25 million.
Nov 6, 2025, 9:30 PM
ICU Medical Announces Third Quarter 2025 Results and Updates Fiscal Year 2025 Guidance
ICUI
Earnings
Guidance Update
- ICU Medical, Inc. reported Q3 2025 revenue of $537.0 million, a decrease from $589.1 million in the same period in the prior year.
- The company's GAAP net loss for Q3 2025 was $(3.4) million, or $(0.14) per diluted share, an improvement from a GAAP net loss of $(33.0) million, or $(1.35) per diluted share, in Q3 2024.
- Adjusted diluted earnings per share for Q3 2025 was $2.03, up from $1.59 in Q3 2024, and Adjusted EBITDA was $105.9 million compared to $94.8 million in Q3 2024.
- ICU Medical updated its Fiscal Year 2025 guidance, revising the GAAP net loss estimate to a range of $(8) million to $0 million and increasing the adjusted EBITDA estimate to a range of $395 million to $405 million.
Nov 6, 2025, 9:10 PM
Quarterly earnings call transcripts for ICU MEDICAL INC/DE.
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