Merit Medical beats Q4, FY 2025 targets, holds 2026 guidance amid tariff and China headwinds
- Q4 revenue $393.9M, +11% YoY, exceeding estimates and prior constant currency growth guidance range.
- Q4 2025 non-GAAP EPS $1.04, +12% YoY, beat estimates; EPS and 21% operating margin both above guidance high-end.
- Full-year 2025 constant currency revenue +11% and free cash flow $216M beat original targets.
- 2026 guide: 5–7% constant currency growth, EPS up 5–8%, operating margin expanding modestly.
- Q1 2026 expected softer: 2–3% organic growth, margin down vs last year from tariffs.
- Growth led by Cardiac and Peripheral Intervention, especially EP/CRM, wires and SCOUT radar localization.
- OEM declined 15% in Q4 on China macro and U.S. destocking; remains structurally mid-high single-digit.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.