Core Viewpoint - Integer Holdings reported strong financial performance in the second quarter of 2024, with notable growth in its Medical Sales segment, although overall revenues slightly missed expectations [22][14]. Revenue Analysis - Revenues increased by 9% year over year, totaling $436.2 million, but fell short of the Zacks Consensus Estimate by 0.4% [14]. - Medical Sales generated revenues of $427.4 million, reflecting a 9.8% increase year over year and a 5.9% organic growth [3]. - The Cardio and Vascular (C&V) business reported revenues of $231.3 million, up 10.9% year over year [18]. - The Cardiac Rhythm Management & Neuromodulation (CRM&N) business achieved revenues of $167.6 million, up 9.3% year over year [5]. - Non-Medical segment revenues decreased by 19.3% year over year, totaling $8.8 million, attributed to a normalization of Electrochem sales [19]. Margin Analysis - Adjusted operating profit reached $56.2 million, a 30.3% increase from the prior year, with an adjusted operating margin of 12.9%, expanding by 211 basis points [7]. - Gross profit was $119.4 million, up 12.8% year over year, with a gross margin of 27.4%, an increase of 92 basis points [20]. Financial Position - Cash and cash equivalents at the end of Q2 2024 were $34.1 million, down from $42.2 million at the end of Q1 2024 [8]. - Total debt decreased slightly to $1.12 billion from $1.14 billion at the end of Q1 2024 [8]. - Cumulative net cash flow from operating activities was $70.5 million, compared to $62.3 million a year ago [21]. 2024 Guidance - The company revised its full-year adjusted EPS guidance to a range of $5.07-$5.49, indicating a rise of 9-18% from 2023 [10]. - Revenue expectations for 2024 are set between $1,735 million and $1,770 million, implying a 9-11% improvement from 2023 [23]. Strategic Developments - Integer Holdings continues to benefit from strong demand across all markets and the recent acquisitions of InNeuroCo and Pulse, which are expected to positively impact the stock [11].

Integer Holdings Corporation (NYSE:ITGR) Q2 2024 Earnings Conference Call July 25, 2024 9:00 AM ET Company Participants Andrew Senn - Senior Vice President, Strategy, Business Development and Investor Relations Joseph Dziedzic - President and Chief Executive Officer Diron Smith - Chief Financial Officer Conference Call Participants Brett Fishbin - KeyBanc Capital Markets Craig Bijou - BofA Securities Matthew O’Brien - Piper Sandler Companies Richard Newitter - Truist Securities Kristen Stewart - C.L. King & ...

The reported revenue represents a surprise of -0.44% over the Zacks Consensus Estimate of $438.15 million. With the consensus EPS estimate being $1.24, the EPS surprise was +4.84%. Here is how Integer performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Shares of Integer have returned +8.5% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could under ...

Core Insights - The article emphasizes the importance of earnings estimate revisions in predicting investor reactions and stock price performance [1] Sales Estimates - Analysts predict 'Sales- Medical Sales- Cardiac Rhythm Management & Neuromodulation' at $168.14 million, reflecting a +9.6% change from the previous year [2] - The consensus estimate for 'Sales- Total Medical Sales' is $429.74 million, indicating a +10.4% change year over year [6] - 'Sales- Medical Sales- Advanced Surgical, Orthopedics & Portable Medical' is estimated at $25.06 million, showing a -7.9% change from the prior year [5] - 'Sales- Non-Medical' is projected at $8.52 million, indicating a -22.1% change from the previous year [9] - 'Sales- Medical Sales- Cardio & Vascular' is expected to reach $236.43 million, reflecting a +13.4% change year over year [10] Earnings Estimates - The upcoming report from Integer (ITGR) is anticipated to show quarterly earnings of $1.24 per share, which is an increase of 8.8% compared to the same period last year [7] - Analysts forecast revenues of $438.15 million for Integer, representing a 9.5% increase year over year [7] Market Performance - Integer shares have experienced an +8.5% change over the past month, contrasting with a -0.3% move of the Zacks S&P 500 composite [7] - Integer holds a Zacks Rank 4 (Sell), suggesting it is expected to underperform the overall market in the near future [7] Analyst Consensus - There has been no revision in the consensus EPS estimate for the quarter over the last 30 days, indicating analysts' collective reassessment of their initial forecasts [3] - The article suggests that analyzing key metrics projected by analysts can provide a more comprehensive view of the company's performance [8]

Over the last four quarters, the company has surpassed consensus EPS estimates four times. Integer shares have added about 25.7% since the beginning of the year versus the S&P 500's gain of 13.8%. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Investors should be min ...

EXHIBIT 99.1 Integer Holdings Corporation Reports Second Quarter 2024 Results ~ Continued strong performance with 2Q24 financial results ~ ~ Raising full year 2024 profit outlook ~ PLANO, Texas, July 25, 2024 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE:ITGR) today announced results for the three months ended June 28, 2024. Second Quarter 2024 Highlights (compared to Second Quarter 2023, except as noted) "Integer delivered another strong quarter with 9% sales growth and a 20% increase in adjusted ...

Investor Relations: Media Relations: Andrew Senn Kelly Butler andrew.senn@integer.net kelly.butler@integer.net 763.951.8312 469.731.6617 The Notes are convertible at a conversion rate of 11.4681 shares of common stock per $1,000 principal amount of Notes, which is equivalent to a conversion price of approximately $87.20 per share of common stock. None of the Company, its Board of Directors or its employees has made or is making any representation or recommendation to any holder as to whether to exercise or ...

Group 1 - Integer Holdings Corporation has notified holders of its 2.125% Convertible Senior Notes due 2028 that the Notes are convertible from July 1, 2024, to September 30, 2024, at the option of the holders [1][3] - The conversion rate is set at 11.4681 shares of common stock per $1,000 principal amount of Notes, translating to a conversion price of approximately $87.20 per share [4] - The conversion became available as the last reported sale price of the Company's common stock exceeded 130% of the conversion price for at least 20 trading days within a 30-day period ending June 30, 2024 [3] Group 2 - The Company has amended its existing credit agreement to increase its maximum borrowing capacity under the revolving credit facility by $300 million, raising it from $500 million to $800 million [7] - The Chief Financial Officer stated that the Company aims to enhance its liquidity sources to support long-term strategic objectives while maintaining a debt leverage target of 2.5 to 3.5 [8] - Integer Holdings Corporation is a leading medical device contract development and manufacturing organization, serving various markets including cardiac rhythm management and neuromodulation [8]

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PLANO, Texas, June 27, 2024 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE:ITGR) announced today that it plans to release financial and operational results for second quarter 2024 at 7 a.m. Central Time (CT) / 8 a.m. Eastern Time (ET) on Thursday, July 25, 2024. Following the release, Integer management will host a webcast at 8 a.m. CT / 9 a.m. ET to discuss these results. Other forward-looking and material information may also be discussed during this call. Date: Thursday, July 25, 2024 Time: 8 a.m ...