Integra LifeSciences Q3 Profit Beats Estimates

(RTTNews) - Integra LifeSciences Holdings Corp. (IART) reported third quarter adjusted earnings per share of $0.86, flat with prior year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.72, for the quarter. Analysts' estimates typically exclude special items.

Third quarter GAAP earnings per share was $0.60, compared to $0.51. GAAP net income was $49.9 million, compared to $43.2 million, last year.

Third quarter revenues were $385 million, decreased 0.4% on a reported basis and increased 3.5% on an organic basis compared to the prior year. Analysts on average had estimated $378.32 million in revenue.

For the full year 2022, the company said it is raising earnings per share outlook to a range of $3.29 to $3.33 and reaffirming revenue guidance at the midpoint of prior guidance with a tightened range of $1.55 billion to $1.56 billion.

For the fourth quarter, the company expects reported revenues in the range of $391 million to $403 million, representing organic growth of 1.3% to 4.3%. Adjusted earnings per share is expected to be in a range of $0.87 to $0.91.

Jan De Witte, Integra's CEO said: "We continue to see strong demand for our products globally and are focused on our execution in achieving our short- and long-term targets."

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