Integra Lifesciences Slashes Annual Guidance Below Consensus - Update

(RTTNews) - (Adds Outlook)

Integra LifeSciences Holdings Corporation (IART) has initiated third-quarter outlook while also cutting its annual guidance, below the Street view.

For the quarter, the company expects adjusted earnings per share of $0.36 to $0.44, below analysts' forecast of $0.85 per share. Revenue is projected to be in the range of $372 million to $382 million, lesser than the Street view of $432.11 million.

For the full year, Integra now anticipates annual adjusted EPS of $2.41 to $2.57, lower than the earlier outlook of $3.01 to $3.11 per share. Revenue outlook for the year has also been cut to $1.609 billion to $1.629 billion from $1.672 billion to $1.687 billion guided earlier.

Analysts, on average, expect the firm to earn $3.04 per share on revenue of $1.68 billion, for the year.

The revised annual outlook reflects the temporary shipping holds and significant second half investments in quality system and GMP compliance improvements.

Q2 Results:

Below are the earnings highlights for Integra Lifesciences:

Earnings: -$12.402 million in Q2 vs. $4.184 million in the same period last year. EPS: -$0.16 in Q2 vs. $0.05 in the same period last year. Excluding items, Integra Lifesciences Holdings Corp reported adjusted earnings of $49.007 million or $0.63 per share for the period.

Analysts projected $0.62 per share Revenue: $418.175 million in Q2 vs. $381.267 million in the same period last year.