Revenue and Earnings Growth
ICU Medical reported Q3 revenue of $533 million, a 5% organic growth year-over-year. Gross margins increased, operating expenses declined, leading to more EBITDA and EPS. Adjusted EBITDA was $106 million, and EPS was $2.03.
Consumables and IV Systems Performance
Consumables business grew 8% reported and 7% organic, reaching record sales levels. IV Systems business grew 9% reported and 8% organic, driven by new installations and strong demand.
Free Cash Flow and Debt Repayment
Free cash flow generation improved with $273 million in principal debt repaid year-to-date. The company also completed refinancing to save approximately $2 million annually in interest expense.
Increased Full Year Guidance
Full year EBITDA guidance increased to a range of $395 million to $405 million, and adjusted EPS guidance updated to $7.35 to $7.65 per share.
Product Innovation and FDA Interactions
The company is actively engaged with the FDA for new product approvals and has ongoing innovations in infusion systems and software solutions.