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PLANO, Texas - Integer Holdings Corporation (NYSE:ITGR) reported first-quarter results that surpassed analyst expectations, leading to a modest 1% increase in its stock price. The medical device outsource manufacturer posted strong revenue growth and raised its full-year adjusted earnings per share guidance.
Integer reported Q1 adjusted earnings per share of $1.31, exceeding the analyst estimate of $1.23. Revenue for the quarter came in at $437.39 million, beating the consensus estimate of $428.51 million and representing a 7% YoY increase. Organic growth contributed 6% to the revenue increase.
The company’s Cardio & Vascular segment was a key driver of growth, with sales increasing 17% YoY, fueled by new product launches in electrophysiology and recent acquisitions. Cardiac Rhythm Management & Neuromodulation sales grew 2%, while Other Markets sales declined 37% due to a planned exit from the Portable Medical (TASE:BLWV) business.
Joseph Dziedzic, Integer’s president and CEO, commented, "Integer started the year off strong with first quarter 2025 sales growing at 7% year-over-year as we continue to execute our strategy by launching new products and adding capabilities in targeted growth markets."
Integer reiterated its full-year 2025 sales outlook of $1.846 billion to $1.88 billion but raised its adjusted EPS guidance to a range of $6.15 to $6.51, up from the previous analyst consensus of $6.07.
The company’s adjusted operating income for Q1 increased 14% YoY to $71 million, while adjusted EBITDA rose 14% to $92 million. Integer’s leverage ratio stood at 3.3 times adjusted EBITDA as of March 28, 2025, following recent acquisitions and a convertible note offering.
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