Second quarter GAAP earnings per diluted share of $(0.16), compared to $0.05 in the prior year; adjusted earnings per diluted share of $0.63, compared to $0.71 in the prior year. Second quarter revenues of $418.2 million increased 9.7% on a reported basis and 2.3% on an organic basis compared to the prior year. Revenue increased 0.3% on an organic basis excluding Boston. Received PMA approvable notification pending GMP certification for SurgiMend. Second Quarter 2024 Consolidated Performance Adjusted EBITDA ...

Financial Performance - The company reported a GAAP net loss of $(12.4) million, or $(0.16) per diluted share, in the second quarter of 2024, compared to a GAAP net income of $4.2 million, or $0.05 per diluted share, in the prior year [38] - Adjusted net income for the second quarter of 2024 was $49.0 million, or $0.63 per diluted share, compared to $57.4 million, or $0.71 per diluted share, in the prior year [16] - Total revenues for the second quarter were $418.2 million, representing a reported growth of 9.7% and an organic growth of 2.3% compared to the prior year [12][15] Segment Performance - Sales in Neurosurgery grew 1.2% on an organic basis, with key drivers including high-single-digit growth in Dural access and repair and low-single-digit growth in Advanced energy [6] - Sales in Instruments declined 3.1% on an organic basis, while ENT sales grew low-double digits [6] - Total revenues from Codman Specialty Surgical were $301.8 million, representing reported growth of 11.3% [26] Operational Updates - The company announced plans to relaunch SurgiMend® and PriMatrix® at a new manufacturing facility in Braintree, Massachusetts, with operational readiness expected in the first half of 2026 [2] - The company generated cash flow from operations of $40.4 million in the quarter, with total balance sheet debt at $1.83 billion and net debt at $1.54 billion [8] - The company is implementing a compliance master plan to address quality system and GMP compliance learnings, resulting in temporary shipping holds on certain products [14] Guidance and Outlook - The company updated its full-year 2024 revenue guidance to a range of $1.609 billion to $1.629 billion, reflecting reported growth of 4.4% to 5.7% and organic growth of -1.0% to 0.3% [3][74] - For the third quarter of 2024, the company expects reported revenues in the range of $372 million to $382 million, representing reported growth of -2.6% to 0.0% and organic growth of -9.4% to -6.7% [9] Cash Flow and Liquidity - The company had total liquidity of approximately $1.18 billion, including $297 million in cash and short-term investments [41] - Free cash flow for the quarter was $10.7 million, with an adjusted free cash flow conversion rate of 21.8% [56]

The earnings report, which is expected to be released on July 29, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. Zacks Consensus Estimate Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results ...

Since receiving the third-party audit findings for its Boston manufacturing facility in March, Integra has been thoroughly reevaluating its plans and timeline to resume the manufacture of PriMatrix and SurgiMend at this site. Simultaneously, the Integra team has been furthering its plans to complete the construction and operationalization of the new state-of-the-art tissue manufacturing facility in Braintree. Based on these assessments, IART no longer intends to commence the manufacture of these products at ...

PRINCETON, N.J., July 15, 2024 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq: IART), a leading global medical technology company, is announcing its plans to restart the manufacture of PriMatrix® and SurgiMend® at its new manufacturing facility in Braintree, Massachusetts. The Company expects to operationalize this new facility in the first half of 2026. "Given the advantages of the Braintree facility and the challenges of the Boston facility, the decision to consolidate our efforts a ...

Core Insights - Integra LifeSciences is focused on restoring patients' lives through innovative treatment pathways and high-quality medical technology [1] - The company plans to restart the manufacture of PriMatrix and SurgiMend at a new facility in Braintree, Massachusetts, instead of the Boston site [2][7] - The new Braintree facility is expected to be operational in the first half of 2026 and will enhance quality systems and process flows [4][7] Manufacturing Transition - Following a third-party audit of the Boston facility, the company reassessed its manufacturing plans and decided to consolidate efforts at the new Braintree site [2][3] - The Braintree facility, located 10 miles from Boston, will provide significant capacity for future growth and is designed to create an attractive workplace for employees [4][7] - Temporary use of the Boston site will support product and process development during the transition to the Braintree facility [8] Commitment to Products - The company remains committed to bringing PriMatrix and SurgiMend back to the market and achieving pre-market approval for SurgiMend PRS in implant-based breast reconstruction [4] - The decision to focus on the Braintree facility is seen as a way to limit execution risk while maintaining a minimal difference in timing compared to restarting in Boston [3]

A month has gone by since the last earnings report for Integra LifeSciences (IART) . Shares have added about 26% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Integra due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Integra's Q1 Earnings Match Estimates, Margins ...

Investors in Integra LifeScience Holdings Corporation (IART) need to pay close attention to the stock based on moves in the options market lately. That is because the Jun 21, 2024 $40.00 Call had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction o ...

Have you evaluated the performance of Integra LifeSciences' (IART) international operations during the quarter that concluded in March 2024? Considering the extensive worldwide presence of this medical device maker, analyzing the patterns in international revenues is crucial for understanding its financial resilience and potential for growth. The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and gro ...

Integra LifeSciences Holdings Corporation (IART) delivered adjusted earnings per share (EPS) of 55 cents in the first quarter of 2024, down 25.7% year over year. The metric was in line with the Zacks Consensus Estimate.The adjustment excludes the impact of certain non-recurring charges like structural optimization charges, the Boston recall and EU Medical Device Regulation charges.GAAP loss per share in the first quarter was 4 cents against GAAP EPS of 29 cents in the year-ago quarter.Revenue DiscussionTota ...