ICU Medical reports Q3 EPS $1.57, consensus $1.38

Reports Q3 revenue $553.3M, consensus $565.75M.Third quarter 2023 revenue was $553.3 M, compared to $597.9M in the same period last year. GAAP gross profit for the third quarter of 2023 was $183.9M, as compared to $186.4 M in the same period last year. GAAP gross margin for the third quarter of 2023 was 33%, as compared to 31% in the same period last year. GAAP net income for the third quarter of 2023 was $7.2 million, or $0.30 per diluted share, as compared to GAAP net loss of $(13.2)M or $(0.55) per diluted share, for the third quarter of 2022. Adjusted diluted earnings per share for the third quarter of 2023 was $1.57 as compared to $1.75 for the third quarter of 2022. Also, adjusted EBITDA was $89.8 M for the third quarter of 2023 as compared to $92.6M for the third quarter of 2022.