Overview

• U.S. medical device maker's Q1 revenue beat analyst expectations despite 12% yr/yr decline post-divestiture

• Adjusted EPS and adjusted EBITDA for Q1 beat analyst expectations

• Company's gross margin rose to 39% from 35% yr/yr, driven by product mix and divestiture

Outlook

• Company did not provide specific guidance or outlook for the current quarter or full year

Result Drivers

• DIVESTITURE IMPACT - Revenue decline primarily reflects the strategic divestiture of the IV Solutions business in May 2025

• PRODUCT LINE PERFORMANCE - Consumables and Infusion Systems posted year-over-year revenue growth, while Vital Care declined due to the IV Solutions divestiture

Company press release: ID:nGNX88Qsk7

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$530.23 mln	$520.48 mln (6 Analysts)
Q1 Adjusted EPS	Beat	$1.97	$1.75 (6 Analysts)
Q1 Adjusted EBITDA	Beat	$98.70 mln	$96.13 mln (6 Analysts)
Q1 Gross Margin		39.00%
Q1 Gross Profit		$206.23 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for ICU Medical Inc is $180.00, about 50.5% above its May 6 closing price of $119.59

• The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 19 three months ago

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