Integer Holdings Corporation Reports Results for Fourth Quarter and Full Year 2024

Core Insights - Integer Holdings Corporation reported strong financial results for Q4 and the full year 2024, with sales up 10% and adjusted operating income up 20% compared to the previous year [6][8] - The company expects sales growth of 8% to 10% in 2025, alongside expanding margins [8][10] Financial Results - Q4 2024 sales increased by 11% to $449 million, with GAAP income from continuing operations rising 23% to $33 million [7][12] - Full year 2024 sales reached $1.717 billion, a 10% increase year-over-year, with GAAP income from continuing operations up 36% to $121 million [7][20] - Adjusted net income for Q4 2024 was $51 million, a 6% increase, while full year adjusted net income was $184 million, an 18% increase [7][12] Acquisitions - Integer acquired Precision Coating for approximately $152 million, with expected sales of $52 million in 2025 [7][8] - The company signed a purchase agreement to acquire VSi Parylene for about $28 million, anticipating sales of $7 million in 2025 [7][8] 2025 Outlook - The company projects 2025 sales between $1.846 billion and $1.880 billion, with adjusted operating income expected to grow 11% to 16% [10][11] - Adjusted EBITDA is anticipated to be between $401 million and $422 million, reflecting an 11% to 17% increase [10][11] Product Line Performance - Cardio & Vascular sales increased by 15% in Q4 2024, driven by new product ramps and acquisitions [12][19] - Cardiac Rhythm Management & Neuromodulation sales rose by 11% in Q4 2024, supported by growth in emerging customers [12][19] - Other Markets sales decreased by 17% in Q4 2024 due to the planned exit from the Portable Medical market [12][19]