ICU Medical (ICUI) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Fri, May 8, 2026 astatine 9:17 AM CDT 33 min read

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Date

Thursday, May 7, 2026 astatine 4:30 p.m. ET

Call participants

• Chief Executive Officer and Chairman — Vivek Jain

• Chief Financial Officer — Brian Bonnell

Full Conference Call Transcript

Vivek Jain, Chief Executive Officer and Chairman; and Brian Bonnell, Chief Financial Officer. We wanted to fto everyone cognize that we person a presumption accompanying today's prepared remarks. To presumption the presentation, delight spell to our Investor leafage and click connected Events Calendar, and it volition beryllium nether the First Quarter 2026 Events. Before we commencement our prepared remarks, I privation to interaction upon immoderate forward-looking statements made during the call, including beliefs and expectations astir the company's aboriginal results. Please beryllium alert they are based connected the champion disposable accusation to absorption and assumptions that are reasonable. Such statements are not intended to beryllium a practice of aboriginal results and are taxable to risks and uncertainties.

Future results whitethorn disagree materially from management's existent expectations. We notation each of you to the company's SEC filings for much elaborate accusation connected the risks and uncertainties that person a nonstop bearing connected operating results and fiscal position. Please enactment that during today's call, we volition besides sermon non-GAAP fiscal measures, including results connected an adjusted basis. We judge these fiscal measures tin facilitate a much implicit investigation and greater transparency into ICU Medical's ongoing results of operations, peculiarly erstwhile comparing underlying results from play to period. We've besides included a reconciliation of these non-GAAP measures successful today's property merchandise and supply arsenic overmuch item arsenic imaginable connected immoderate addendums that are added back.

And with that, it's my pleasance to crook the telephone implicit to Vivek.

Vivek Jain: Thanks, Deirdre. Good afternoon, everyone, and we cognize it's a engaged net day, truthful we'll effort to beryllium arsenic little arsenic possible. I'll locomotion done our Q1 gross and net show and supply immoderate commentary connected the businesses and past crook it implicit to Brian, who volition recap the afloat Q1 results and explicate our existent presumption of however we tin negociate this year's caller macro events. After that, I'll travel backmost with a fewer comments connected wherever we are connected our near-term goals, our ngo of creating a broad infusion therapy institution and our superior allocation strategy. Revenue for Q1 was $526 cardinal for full institution maturation of 1% connected an integrated ground oregon minus 12% reported.

And arsenic a reminder, the reported results are impacted by the mid-2025 instauration of the Otsuka ICU Medical associated task and resulting deconsolidation of IV Solutions from our income statement. Gross margins accrued sequentially and were supra 41%, driven by wide premix successful our infusion businesses. Adjusted EBITDA was $99 cardinal and adjusted EPS was $1.97. Free currency travel was strong, and determination was nary existent alteration successful nett leverage. The broader request and utilization situation successful Q1 was previewed connected the past call. The crisp flu spike successful precocious 2025 did soften January, but volumes returned to expected levels from February onwards and feels good done today.