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Tuesday, November 2, 2021

Integra LifeSciences Report Upbeat Q3 Results; Raises Full-year Earnings Outlook

 Integra LifeSciences Holdings Corporation (IART) on Tuesday reported higher earnings in the third quarter driven by strength across most of its product portfolio. The company also raised its full-year adjusted earnings outlook, better than analysts' view.

Integra reported net income of $43.2 million, or $0.51 per share, in the third quarter, compared with $32.3 million, or $0.38 per share, in the prior year.

Excluding items, earnings of $73.1 million or $0.86 per share beat the average estimate of thirteen analysts polled by Thomson Reuter at $0.72 per hare.

Revenue for the quarter increased 4.5% year-over-year to $386.9 million. The consensus estimate was for $384.58 million.

Further, the company has raised its full-year adjusted earnings per share outlook to the range of $3.16 to $3.20 from $2.98 to $3.05. The consensus estimate stands at $3.02 per share.

Full-year revenue is expected in the range of $1.54 billion- $1.55 billion. Analysts see revenue of $1.54 billion for the period.

Looking forward to the the fourth quarter, Integra expects revenue of $403 million and adjusted earnings per share to be in a range of $0.82 to $0.86.

Analysts expect the company to report earnings of $0.81 per hare on revenue of $409.65 million in the fourth quarter.

https://www.nasdaq.com/articles/integra-lifesciences-report-upbeat-q3-results-raises-full-year-earnings-outlook-2021-11-02

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