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Investing.com -- Integer Holdings Corporation (NYSE:ITGR) shares fell 5% after the medical device manufacturer reported second quarter earnings that met expectations while revenue exceeded analyst estimates. The company delivered in-line adjusted earnings per share despite strong sales growth, suggesting margin pressure.
Integer reported second quarter adjusted earnings of $1.55 per share, matching analyst expectations, while revenue rose 11% YoY to $476 million, surpassing the consensus estimate of $464.37 million. The company’s organic growth also reached 11% compared to the same period last year. The stock’s decline indicates investors were expecting stronger profit performance given the revenue outperformance.
"Integer delivered another strong quarter of growth with sales up 11%, adjusted operating income up 15%, and adjusted EPS growth of 19% as we continue to execute our strategy," said Joseph Dziedzic, Integer’s president and CEO.
The company’s Cardio & Vascular segment led growth with a 24% sales increase, driven by new product launches in electrophysiology, acquisitions, and strong neurovascular demand. Meanwhile, Cardiac Rhythm Management & Neuromodulation sales grew modestly at 2%, while Other Markets sales declined 38% due to a planned exit from the portable medical business.
Integer raised its full-year 2025 profit outlook, now expecting adjusted operating income growth of 12% to 16% and adjusted EPS growth of 18% to 23%. The company forecasts full-year revenue between $1.85 billion and $1.876 billion, compared to the analyst consensus of $1.869 billion. The EPS guidance range of $6.25 to $6.51 brackets the consensus estimate of $6.31.
The company’s debt increased by $212 million from the end of 2024 to $1.202 billion, primarily to finance acquisitions and costs associated with a 2030 convertible note offering, resulting in a leverage ratio of 3.2 times adjusted EBITDA.
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