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ICUI 8-K filings in 2024
Every material Form 8-K ICU Medical filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
ICU Medical reported third quarter 2024 revenue of $589.1 million, up from $553.3 million a year earlier, but swung to a GAAP net loss of $33.0 million from net income of $7.2 million. The company also widened its full-year 2024 GAAP net loss outlook, while narrowing its adjusted EBITDA range, so shareholders face a mixed picture on reported results and updated guidance.
Q3 2024 revenue was $589.1 million, up from $553.3 million in Q3 2023.
GAAP net loss was $33.0 million, or $1.35 per diluted share, versus net income of $7.2 million, or $0.30 per share, a year earlier.
Adjusted diluted EPS was $1.59 versus $1.57, and adjusted EBITDA was $94.8 million versus $89.8 million.
FY2024 GAAP net loss outlook moved to $122 million to $130 million from $108 million to $118 million; adjusted EBITDA outlook is now $355 million to $365 million.
ICU Medical's board appointed Daniel Woolson, 48, as President on September 30, 2024, effective immediately. Woolson has been Corporate Vice President and General Manager of Infusion Systems since 2017. The filing does not describe any financial impact or change to the company's outlook.
Board appointed Daniel Woolson, 48, as President on September 30, 2024, effective immediately
Woolson has served as Corporate Vice President, General Manager – Infusion Systems since 2017
Previously President, Respiratory Solutions at Becton Dickinson from March 2015 to November 2016
ICU Medical reported second quarter 2024 revenue of $596.5 million, up from $549.3 million a year earlier, but its GAAP net loss widened to $21.4 million, or $0.88 per share, from $9.9 million, or $0.41 per share. The company also narrowed its full-year 2024 guidance, raising the low end of its adjusted diluted EPS range to $4.95 from $4.40, which shareholders will weigh against lower second quarter adjusted EPS of $1.56 versus $1.88.
Second quarter revenue was $596.5 million versus $549.3 million; GAAP gross margin was 35% in both periods.
Adjusted diluted EPS was $1.56 versus $1.88, and adjusted EBITDA was $91.3 million versus $98.1 million.
FY2024 adjusted EBITDA guidance narrowed to $345 million to $365 million from $330 million to $370 million.
FY2024 adjusted diluted EPS guidance updated to $4.95 to $5.35 from $4.40 to $5.10; GAAP net loss guidance narrowed to $(118) million to $(108) million.
ICU Medical reported first quarter 2024 revenue of $566.7 million, down slightly from $568.6 million a year earlier, and a GAAP net loss of $39.5 million, or $1.63 per diluted share, versus a $9.8 million loss, or $0.41 per share, in the first quarter of 2023. Adjusted diluted earnings per share fell to $0.96 from $1.74, and adjusted EBITDA fell to $78.8 million from $102.0 million, so headline profit measures declined for shareholders.
Q1 2024 revenue was $566.7 million versus $568.6 million in Q1 2023.
GAAP net loss was $39.5 million, or $1.63 per diluted share, versus a $9.8 million loss, or $0.41 per share, a year earlier.
Adjusted diluted EPS was $0.96 versus $1.74; adjusted EBITDA was $78.8 million versus $102.0 million.
The filing includes a fiscal year 2024 outlook showing a GAAP net loss of $127 million to $110 million and adjusted diluted EPS of $4.40 to $5.10.
William Seeger, a director of ICU Medical, resigned from the company's board and its Audit and Compliance Committee effective immediately, as Smiths Group's nominated director, in anticipation of his retirement from the Smiths Group board on May 31, 2024. The filing states the resignation did not result from any disagreement with the company or any matter relating to its operations, policies or practices, and that Smiths Group keeps the right to designate a board member while it owns at least 5% of the company's common stock.
William Seeger resigned from the ICU Medical board and Audit and Compliance Committee, effective immediately
Seeger's resignation is tied to his planned retirement from the Smiths Group plc board on May 31, 2024
The filing states no disagreement with the company or matter relating to its operations, policies or practices
Smiths Group may keep designating a board member while it owns at least 5% of ICU Medical common stock, per the January 6, 2022 Shareholders Agreement
ICU Medical reported fourth quarter 2023 revenue of $587.9 million, up from $578.0 million a year earlier, but its GAAP net loss widened to $(17.1) million, or $(0.71) per diluted share, from $(15.5) million, or $(0.65), in the prior-year quarter. Adjusted diluted EPS was $1.57 versus $1.60, and adjusted EBITDA was $86.3 million versus $96.4 million, so higher sales did not translate into higher profit on either measure. The company also issued fiscal 2024 guidance calling for a GAAP net loss of $(88) million to $(71) million and adjusted EBITDA of $330 million to $370 million.
Q4 2023 revenue was $587.9 million versus $578.0 million; GAAP gross margin was 29% versus 30%.
GAAP net loss was $(17.1) million, or $(0.71) per diluted share, versus $(15.5) million, or $(0.65), a year earlier.
Adjusted diluted EPS was $1.57 versus $1.60; adjusted EBITDA was $86.3 million versus $96.4 million.
Fiscal 2024 guidance: GAAP net loss of $(88) million to $(71) million; adjusted diluted EPS of $4.40 to $5.10.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every ICU Medical filing is on SEC EDGAR ↗. 8-K briefs of other companies →