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Integra LifeSciences (IART - Free Report) recently announced the preliminary revenue results for first-quarter 2020. The company is scheduled to release detailed financial results for the period on May 7.
Integra projects first-quarter 2020 revenues in the band of $352-$354 million. This represents an organic revenue decline of 0.5% and 1.9% on a reported basis. The Zacks Consensus Estimate for the same is pinned at $369.4 million, above the projected band.
Management noted that the first two months of the quarter under discussion were in line with the expectations. However, in March, as the pandemic took a graver form, demand for the company’s surgical procedures declined significantly. This was because healthcare providers started to reallocate resources to address the surging demand caused by the COVID-19 outbreak.
2020 Guidance
Integra LifeSciences strongly expects the ongoing impact from restrictions on surgical procedures and the U.S. Government’s newly-implemented shelter-in-place policies to significantly dampen its second-quarter performance. Management is yet to measure the magnitude of total loss it has to bear due to the coronavirus-led economic damages. Hence, it withdrew its guidance for first-quarter and full-year 2020 issued on Feb 19, 2020.
The company will, however, provide an update on May 7.
As of now, the Zacks Consensus Estimate for 2020 adjusted EPS is pegged at $3.02, while the same for revenues is $1.56 billion.
Meanwhile, the company noted that Integra’s financial position and liquidity is strong.
Damage-Control Measures Taken
Integra LifeSciences noted that, in February, it implemented contingency plans to address the operational impact of COVID-19, in order to ensure execution of operations primarily in the Asia-Pacific region. In March, when the situation deteriorated worldwide, the company expanded the contingency plans to enable its global manufacturing and distribution sites to keep operating at levels required to meet demand and provide safety to employees. The company has rolled out significant cost-containment measures like freezing hiring, eliminating overtime, ending third-party services and temporary contractor relationships, slashing capital expenditures and discretionary spending, including travel, events and marketing programs. It will provide more details on these measures on May 7.
Share Price Movement
Integra has underperformed its industry over the past three months. The stock has lost 23.1% compared with the 14.2% decline registered by the industry.
Zacks Rank & Other Key Picks
Currently, Integra carries a Zacks Rank #2 (Buy). A few other top-ranked stocks from the broader medical space are ResMed Inc. (RMD - Free Report) , National Vision Holdings, Inc. (EYE - Free Report) and Phibro Animal Health Corporation (PAHC - Free Report) .
National Vision’s long-term earnings growth rate is estimated at 10.7%. The company presently holds a Zacks Rank of 2.
Phibro’s long-term earnings growth rate is projected at 2.1%. It currently carries a Zacks Rank #2.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
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Integra Releases Preliminary Q1 Results, Withdraws '20 View
Integra LifeSciences (IART - Free Report) recently announced the preliminary revenue results for first-quarter 2020. The company is scheduled to release detailed financial results for the period on May 7.
Integra projects first-quarter 2020 revenues in the band of $352-$354 million. This represents an organic revenue decline of 0.5% and 1.9% on a reported basis. The Zacks Consensus Estimate for the same is pinned at $369.4 million, above the projected band.
Management noted that the first two months of the quarter under discussion were in line with the expectations. However, in March, as the pandemic took a graver form, demand for the company’s surgical procedures declined significantly. This was because healthcare providers started to reallocate resources to address the surging demand caused by the COVID-19 outbreak.
2020 Guidance
Integra LifeSciences strongly expects the ongoing impact from restrictions on surgical procedures and the U.S. Government’s newly-implemented shelter-in-place policies to significantly dampen its second-quarter performance. Management is yet to measure the magnitude of total loss it has to bear due to the coronavirus-led economic damages. Hence, it withdrew its guidance for first-quarter and full-year 2020 issued on Feb 19, 2020.
The company will, however, provide an update on May 7.
As of now, the Zacks Consensus Estimate for 2020 adjusted EPS is pegged at $3.02, while the same for revenues is $1.56 billion.
Meanwhile, the company noted that Integra’s financial position and liquidity is strong.
Damage-Control Measures Taken
Integra LifeSciences noted that, in February, it implemented contingency plans to address the operational impact of COVID-19, in order to ensure execution of operations primarily in the Asia-Pacific region. In March, when the situation deteriorated worldwide, the company expanded the contingency plans to enable its global manufacturing and distribution sites to keep operating at levels required to meet demand and provide safety to employees. The company has rolled out significant cost-containment measures like freezing hiring, eliminating overtime, ending third-party services and temporary contractor relationships, slashing capital expenditures and discretionary spending, including travel, events and marketing programs. It will provide more details on these measures on May 7.
Share Price Movement
Integra has underperformed its industry over the past three months. The stock has lost 23.1% compared with the 14.2% decline registered by the industry.
Zacks Rank & Other Key Picks
Currently, Integra carries a Zacks Rank #2 (Buy). A few other top-ranked stocks from the broader medical space are ResMed Inc. (RMD - Free Report) , National Vision Holdings, Inc. (EYE - Free Report) and Phibro Animal Health Corporation (PAHC - Free Report) .
ResMed has a projected long-term earnings growth rate of 14.4%. It currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
National Vision’s long-term earnings growth rate is estimated at 10.7%. The company presently holds a Zacks Rank of 2.
Phibro’s long-term earnings growth rate is projected at 2.1%. It currently carries a Zacks Rank #2.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
See 5 Stocks Set to Double>>