Integra LifeSciences Reports Third Quarter 2024 Financial Results

Integra LifeSciences reported financial results for the third quarter ending September 30, 2024. Third quarter 2024 highlights include:

• Third quarter revenues of $380.8 million decreased 0.4% on a reported basis and 8.6% on an organic basis compared to the prior year. Revenue decreased 10.3% on an organic basis excluding Boston.
• Third quarter GAAP earnings per diluted share of $(0.14), compared to $0.24 in the prior year; adjusted earnings per diluted share of $0.41, compared to $0.76 in the prior year.
• Shipping holds communicated during the second quarter earnings call are releasing in line with expectations.
• Integra Skin production is on pace to meet historical revenue run rates for the fourth quarter.
• Updating full-year 2024 revenue guidance to a range of $1.609 billion to $1.619 billion and adjusted EPS guidance to a range of $2.41 to $2.49 per share.
• The Company announced Mojdeh Poul as Integra’s next president and chief executive officer.

“Our third-quarter results highlight the early progress we are making to identify and remediate the gaps in our quality management system," said Jan De Witte, president and CEO of Integra LifeSciences. "We are progressing with the implementation of our compliance master plan across our manufacturing and supply chain operations, which will position us to meet robust market demand and more consistently and reliably deliver to customers, patients, and shareholders."

Click here for the full press release.